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Participating Lenders: Bank of America Home Loans E. 65 Route 4 W. Ste 13 Paramus, NJ 07652 Henry Cruz 973-479-3469 Saldino Group 147 Prospect St. Passaic, NJ 07055 Oscar Marino - 973-767-2850 Eagle.

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First-Time Homebuyer Mortgage Program - NJ.gov
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How To Qualify For First-Time Home Buyer Grants In New Jersey You're a first-time home buyer or haven't owned a home in the past 3 years. Your primary residence is located in New Jersey. You meet all credit score and debt-to-income ratio (DTI) You can meet the income and home purchase price requirements.

Recommended Minimum Savings Minimum Down Payment$17,500Closing Costs$5,228Estimated Cash Needed to Close$22,728Recommended Cash Reserve$10,657Total Recommended Savings$33,385

New Jersey home buyer stats Average Home Sale Price1$500,000Minimum Down Payment in NJ (3%)$15,00020% Down Payment in NJ$100,000Average Credit Score in NJ2724Maximum NJ Home Buyer Grant3Up to $40,000 in Jersey City 07-Sept-2023

DOWN PAYMENT/CLOSING COSTS Borrower may fund down payment and closing costs through NJHMFA's Down Payment Assistance Program, which provides eligible homebuyers purchasing a home in New Jersey with up to $15,000. FHA requires 3.5% downpayment. VA, and USDA may allow for no downpayment.

The eligibility requirements include: The first mortgage must be an NJHMFA loan. You must be purchasing a primary residence in New Jersey. You must not have owned a home in the past three years.

Good credit can also help you qualify for a better interest rate on mortgages, car loans, etc. But for an FHA loan in New Jersey, you should have a score of at least 620.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232