Let's Determine Your Eligibility
Stop renting and start owning. Discover how Down Payment Assistance programs in New Jersey can help cover your upfront costs with Rich Bolt.
How much down payment assistance can I get in New Jersey? Eligible NJ first-time and first-generation buyers can receive up to $15,000 through the NJHMFA Down Payment Assistance program — a 0% interest, 5-year forgivable second mortgage — plus up to an additional $7,000 First-Generation grant, for a total of up to $22,000 toward down payment and closing costs.
New Jersey Down Payment & Loan Programs
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers several state-backed options to make homeownership accessible. Review the programs below, then use the quiz to see which ones fit you best — or reach out and Rich will match you personally.
NJHMFA Down Payment Assistance (DPA)
Provides up to $15,000 (varies by county) as a 0% interest, 5-year forgivable second mortgage with no monthly payments. Must be paired with an NJHMFA first mortgage loan.
- 5-year 100% forgivable (20%/yr)
- Covers down payment & closing costs
- Min 640 credit score & income limits
First-Generation Homebuyer DPA
Adds an additional $7,000 grant on top of the standard $15,000 NJHMFA DPA (totaling $17,000 to $22,000) for eligible first-generation homebuyers or former foster youth.
- Extra $7k forgivable grant
- Parents do not own residential property
- Includes former NJ foster youth
HFA Advantage Mortgage Program
A 30-year fixed conventional loan designed specifically for state DPA buyers, offering discounted private mortgage insurance (PMI) and low down payment terms.
- Conventional loan with low down payment
- Reduced mortgage insurance costs
- Pairs seamlessly with NJHMFA DPA
NJ First-Time Homebuyer Program
Competitive 30-year fixed government-backed loan (FHA/VA/USDA) tailored for NJ buyers. Offers higher income limits in Urban Target Areas (UTAs).
- Flexible credit & DTI guidelines
- Urban Target Area (UTA) limit boosts
- Foundational program for $15k DPA
Homeward Bound Program
Specialized 30-year fixed government-insured loan providing predictable long-term stability and flexible pairing with NJ state secondary financing.
- Competitive 30-year fixed rate
- Combines with $15,000 DPA
- Primary residence in any NJ county
Police & Firemen's (PFRS) Program
For active members of the NJ Police and Firemen's Retirement System with 1+ year of creditable service. Offers semi-annual state-set interest rates up to $766,550 loan limit.
- Dedicated rate fixed semi-annually
- Loan limits up to $766,550
- Exclusive to active NJ PFRS members
Not Sure Which Program Fits You?
Answer a few quick questions and Rich Bolt will show you the New Jersey DPA programs that make the most sense for your situation.
Will this be your first home purchase?
Multi-State Assistance & Cornerstone Specialty Options
Licensed across NJ, FL, GA, PA & VA — Rich Bolt matches you with state-level down payment assistance programs, plus innovative no-contingency and Non-QM solutions from Cornerstone First Mortgage.
Florida Hometown Heroes
Offers frontline and community workers in Florida up to 5% of the first mortgage loan amount (max $35,000) in 0% interest, deferred second mortgage down payment assistance.
Buy Before You Sell Program
Need the equity from your current house for the down payment? Unlock up to 75%-80% of your current equity upfront, write contingency-free offers, and move once.
Non-QM & 1st Mortgage HELOC
Self-employed or need revolving liquidity? Explore Bank Statement loans, CPA Profit & Loss qualification, or a First-Lien HELOC for maximum financial agility.
NJHMFA Down Payment Assistance Estimator
See how much New Jersey DPA you may qualify for. Adjust the sliders below to estimate your eligibility for up to $15,000 in forgivable assistance.
NJHMFA DPA Estimator
Adjust the sliders to estimate your New Jersey assistance
Likely Eligible!
Estimated DPA Assistance
$15,000
Up to $15,000 as a 5-year forgivable, 0% interest second mortgage (forgiven 20% per year).
Based on your inputs, you appear to meet the core NJHMFA Down Payment Assistance requirements. Rich Bolt can confirm your full eligibility and lock in your assistance amount.
Income within NJHMFA limit
Your income $95,000 vs limit $169,620
Purchase price within county limit
Home price $400,000 vs Morris limit $576,000
Credit score meets 640 minimum
Your score 700 (strong)
First-time buyer status
First-time buyer (no ownership in last 3 years)
Morris County Limits
This estimator provides a general guideline based on publicly available NJHMFA program parameters and is for informational purposes only. It is not a commitment to lend or a guarantee of assistance. Actual eligibility, income limits, and purchase-price limits are set by NJHMFA and subject to change. Contact Rich Bolt (NMLS #222703) for a personalized qualification review.
Daily Mortgage Interest Rates
Disclaimer: Mortgage interest rates shown are for informational purposes only and subject to change without notice. Actual rates and terms vary based on credit profile, loan amount, property location (NJ, FL, GA, PA, VA), occupancy, and LTV. Please contact Rich Bolt directly for a personalized rate quote.
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