NJHMFA Down Payment Assistance: 2026 New Jersey Homebuyer Guide
Up to $15,000 in Down Payment Assistance, Plus $7,000 More for First-Gen Buyers
Get your free mortgage consultation and explore your eligibility in minutes.
You Could Be Closer to Homeownership Than You Think
Saving a down payment in New Jersey is brutal. That's exactly why NJHMFA exists.
Qualifying first-time buyers can get up to $15,000 toward their down payment and closing costs. The exact amount depends on the county you buy in. If you're also a first-generation buyer, you may be eligible for another $7,000, for a total of $17,000–$22,000.
I'm Craig LaBruno, Senior Home Loan Advisor with The Impact Lending Team at Rate. I've spent 24 years helping New Jersey families use programs like this one. My job is to tell you straight whether it fits you, and if it does, get every dollar you're eligible for.
How the NJHMFA Program Works
What Is NJHMFA Down Payment Assistance?
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) created this program to help eligible buyers with upfront costs—the biggest hurdle for most first-time homebuyers.
How Much Assistance Is Available?
Up to $15,000 in NJHMFA Down Payment Assistance (amount depends on your county)
+$7,000 for eligible First-Generation Homebuyers
$17,000-$22,000 total for those who qualify for both
Do You Have to Repay the Assistance?
Here's the honest version: it's technically a second loan, but it's about the friendliest loan you'll ever see. 0% interest, no monthly payments, and fully forgiven after 5 years as long as the home stays your primary residence. Sell, refinance, or move out before then, and you may owe some of it back. We'll walk you through the details.
Who’s Eligible?
First-time homebuyer: You haven't owned a home in the past 3 years. (Yes, even if you owned one before that.)
First-generation homebuyer: You're a first-time buyer AND either:
Your parents or legal guardians don't currently own any residential property, and no one in your household has owned a primary residence in the past 3 years, or
You've been placed in foster care in New Jersey at any time.
Heads up: lots of people rule themselves out because their parents once owned a home. The rule is about whether they own one now.
No pressure. Just expert advice and clarity about your next step.
Program Highlights at a Glance
🏡 Up to $15,000 in down payment & closing cost assistance (by county), plus $7,000 for eligible first-gen buyers
💵 0% interest / no monthly payments
🛑 Forgiven after 5 years of living in the home
🧾 Requires pairing with a NJHMFA first mortgage loan
📆 Must be a first-time buyer (no homeownership in last 3 years)
📍 Available statewide in New Jersey
📊 Income and purchase price limits apply by county
NJHMFA Income and Purchase Price Limits by County
NJHMFA programs are available across all of New Jersey, but income and home purchase limits vary by county.
Use the official map below to check your location:
NJHMFA Mortgage Rates and Loan Options
To use NJHMFA down payment assistance, you'll pair it with an NJHMFA first mortgage: a competitive 30-year fixed-rate loan through a participating lender like us. Options include:
FHA, VA, or USDA government-insured loans
Conventional through NJHMFA's HFA Advantage program
A 30-year fixed means your principal and interest payment never changes. No surprises.
Who May Qualify for NJHMFA Assistance?
This program is ideal if:
You’re a first-time buyer (or haven’t owned a home in 3+ years)
You need help covering upfront homebuying costs
You’re buying a home in New Jersey
You meet NJHMFA’s income and purchase price guidelines
You want to work with a lender who understands how to secure this funding
Why Work With the Impact Lending Team?
We're an NJHMFA participating lender, and this program is a big part of what we do every week. We'll check your county limits, confirm what you're eligible for, and handle the paperwork so you're never guessing.
Not ready yet? Our Pivot 2 Purchase Program helps renters fix credit, build savings, and get mortgage-ready, so "not yet" doesn't turn into "never”.
Next Steps: Check Your NJHMFA Eligibility
You don’t need perfect credit, a huge savings account, or a miracle. Just a willingness to take the first step.
We’ll go over your eligibility and help you apply for the NJHMFA Program if you qualify.
Documents You May Need
3 Years of Tax Returns
Recent Pay Stubs
Bank Statements
Government-Issued Photo ID
Credit Report (we’ll help you pull it)
We'll walk you through each step—so you’re never guessing what comes next.
Stop Renting. Start Owning.
This program was built for hardworking New Jersey families. Find out in 60 seconds what you may qualify for, then we'll take it from there.
Take the first step toward owning your home with help from NJHMFA.
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Craig LaBruno NMLS: 242811
(201) 927-8486
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