Do you need some help with the down payment?

Down Payment Help

Hey there, first time home buyers in New Jersey. Is it time for you to buy your own home? Like many, you’re probably having an issue with saving for the down payment. Do you need some help? Well, this may be the answer. Why? Because you may qualify for a $10,000 interest-free, five-year forgivable second loan.And the best part is that there are no monthly payments.  These funds can be used for down payment and/or closing costs.

This program is provided by the New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) First-Time Homebuyer Mortgage Program. It provides qualified New Jersey first-time home buyers with a market rate 30-year loan.

Can You Qualify

The basic qualifications are similar to the FHA loan standards. You’ll need a credit score of at least 620, in addition to the normal income qualifications. And, here’s the great part. You’re considered a first time home buyer if you haven’t owned a home in the past three years, .

This is just one of the programs that the NJHMFA offers to assist people purchase a home. Check out their web site for details.

When you’re ready to either buy or sell a home, please contact the Reimans. We can help.

Related Blog Posts:

Buy a Home with a Low Downpayment

Monmouth County has some great active adult communities. If you’re looking for an adult community home, you should check out Riviera at Freehold, Four Seasons Manalapan, Renaissance and Equestra.