New Jersey Housing and Mortgage Finance Agency
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New Jersey Housing and Mortgage Finance AgencyNJFirst-Time HomeownerStatewide New Jersey Housing and Mortgage Finance Agency (NJHMFA) program that pairs a 30-year fixed-rate first mortgage with an interest-free, five-year forgivable down payment assistance second loan and an optional First Generation assistance layer for eligible buyers.
Updated: Dec 6, 2025
The NJHMFA provides low-interest 30-year fixed mortgage loans paired with down payment or closing cost assistance for qualified first-time buyers across New Jersey.
Eligible for: First-time homebuyers (no ownership in past 3 years) in New Jersey, must use approved NJHMFA first mortgage and meet income & purchase-price…
Funding: Provides an interest-free, five-year forgivable down payment assistance loan of up to 15,000 dollars (amount varies by county) that can be used toward down payment or closing costs, with the potential to layer roughly 7,000 dollars in additional First Generation assistance for qualifying buyers whose parents or guardians never owned a home, bringing combined support to about 22,000 dollars.Deadline: Rolling / subject to funds and approved lender participation. RollingStatewide (New Jersey)homebuyerfirst-time homebuyerlow-income homebuyermoderate-income homebuyerNew Jersey homebuyerdown payment assistanceclosing cost assistanceforgivable loansecond mortgagestate programfirst generation bonuslow-interest mortgage