NJ First Time home buyers program may be good for some of you. – See more from Gary Simmens

Today’s rates are 6.625% with 0 points on NJ First time homebuyer with DPA

For Atlantic County it would be $10k plus $7000 for the 1st Generation DPA = $17000.00

First Generation Down Payment Assistance Program

The NJHMFA First Generation Down Payment Assistance Program provides $7,000 of down payment and closing cost assistance.

This is offered in addition to the NJHMFA DPA award for first-time buyers providing a total assistance of $17,000 to $22,000.

The NJHMFA First Generation Down Payment Assistance Program is for qualified first-time homebuyers who are also first-generation homebuyers.

The assistance is provided as an interest-free, five-year forgivable second loan with no monthly payment.

A first-generation homebuyer is defined as a first-time homebuyer who also is either:

a. an individual:

      1.  whose parents or legal guardians do not have any present ownership interest in any residential real property in any state or territory of the United States, or outside of the United States; and 
      2.  whose spouse, or domestic partner, and each member of whose household has not, during the 3-year period ending upon acquisition of the eligible home to be acquired using such assistance, had any present ownership interest in any residential real property used as their principal residence in any state or territory of the United States, or outside of the United States;

OR

b. an individual who has at any time been placed in foster care in the State of New Jersey.

Call REALTOR Gary Simmens for more details or current requirements at 6093381339 direct.