Statewide First-Time Homebuyer Programs
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is the primary source for statewide homebuyer assistance programs. These programs are designed to make homeownership more affordable for New Jersey residents.
NJHMFA Down Payment Assistance Program (DPA)
The flagship program for most first-time buyers in NJ.
Assistance Amount
Up to $15,000
Interest-free, 5-year forgivable second loan.
Key Requirement
Must be a first-time homebuyer, paired with an NJHMFA first mortgage, and meet income/purchase price limits.
First Generation Down Payment Assistance
Additional help for those whose parents do not own a home.
Assistance Amount
$7,000 Additional
Can be combined with DPA for up to $22,000 total.
Key Requirement
Must be a first-generation homebuyer (parents don't own a home) or have been in foster care.
Police and Firemen's Retirement System Mortgage
A special mortgage program specifically for active members of the Police and Firemen's Retirement System (PFRS).
Must be an active member of the PFRS to qualify.
Comparison Table
| Program Name | Assistance | Who is it for? |
|---|---|---|
| NJHMFA DPA | $15,000 forgivable loan | First-time buyers meeting income limits |
| First Generation DPA | $7,000 additional grant | First-gen buyers (parents don't own) |
| PFRS Mortgage | Special mortgage rates | Police & Firefighters (PFRS members) |