Need Help as a First Time Home Buyer in NJ? Here It Is!

(Last Updated On: November 19, 2018)

Buying a home doesn’t have to be hard even if you’re low-income! You could get help with a down payment, closing costs and interest rates. We found programs to help you if you’re a first time home buyer in NJ.

first time home buyer in NJ

Get more help buying a house with low income here!

Down payment assistance programs are available!

The USDA 100% loan doesn’t work for everyone, but it might work if you’re a first time home buyer in NJ! The USDA requires you to be in a rural area according to their map and also meet other requirements. This loan comes with lower credit requirements than traditional loans but also requires you to meet income requirements. There are large parts of New Jersey that don’t qualify for this program, but if you’re thinking of living outside one of the cities, it might work for you!

The Department of Community Affairs Grants and Resources division in New Jersey might be able to help you with financing. They offer a variety of grants you can use to help pay for both the down payment and the closing costs on your new home!

We found programs for if you’re a first time home buyer in NJ.

The New Jersey Housing and Mortgage Finance Agency might be able to help people purchasing a home in New Jersey. If you meet all their requirements and can sign up for help from the agency, you might be able to get financing directly from lenders. The homeownership program works specifically with people who are low income to help make them a first time home buyer in NJ!

You might be able to get help through the division of housing and community resources. The programs available from this division may vary, but they can generally help you find resources to make purchasing your home easier.

Not to be confused with the previous agency, the New Jersey Housing Resource Center could help you save money when you’re purchasing a home. The center could help you learn how to find the best rates, come up with a bigger down payment and get assistance to make buying a home a possibility. They offer free classes and courses to NJ residents regardless of income.

first time home buyer in NJ

Here are more resources to help you purchase a home in NJ!

Are you struggling with safe and affordable housing? Habitat for Humanity might be able to help you fix that! They offer a program that includes “sweat equity.” You work to help build your brand new home and they’ll use that toward your financing costs. You must meet certain requirements and most areas of New Jersey have a waitlist for Habitat potentials.

In addition to their wildly popular 100% financing, the USDA offers a different type of loan. You might not be able to get your house financed 100%, but you could get access to even lower interest rates and credit requirements that are easier to satisfy than with other companies.

If you’re a first time home buyer, you could get a loan that’s intended for you! The FHA loan helps first time home buyers get into a home with a lower down payment than traditional financing. You might also be able to get into the home with lower credit requirements and a much better interest rate. You can get this loan through traditional lenders, but it’s backed by HUD.

We found programs for veterans & military.

Being a veteran comes with some benefits and the VA-backed loan is one of the best ones to take advantage of! This loan comes with some of the best interest rates on the market. You can also qualify with a lower credit rating. Low-income veterans and military members can learn more about the VA-backed loan from their bank or lending institution!

Counties could help if you’re a first time home buyer in NJ?

If you’re a first time home buyer in NJ, you might be able to get help from your county! There are a variety of programs available in different counties throughout the state.

Atlantic County

The Atlantic County Improvement Authority might be able to help you bridge the gap between your down payment and your closing costs. You could get up to an additional $10,000 toward what you’ve already saved up so you can get help with starting your mortgage!

Bergen County

The American Dream program could help you with up to $40,000 of HOME program funds. These funds can be used to get your mortgage started. It functions as a second mortgage and you won’t be required to pay it back until you sell your home! There are program requirements you’ll need to meet if you want to get in on the program.

Burlington County

The first time home buyers program in Burlington County help with a HOME benefit toward your home ownership investment. They may also offer other assistance that could make purchasing a home a reality for you! If you’re in Burlington and want to be a first time home buyer in NJ, the first time home buyers program might work excellently for you!

Camden County

The Bureau of Grants Management might help you with a grant toward your down payment or closing costs. As a first time home buyer in NJ in Camden, you could get help with your homeownership costs. The organization might also be able to provide you with resources to help you better manage your finances throughout homeownership.

The department of community development works with HOME funds to help you make purchasing a home a reality. You’ll need to apply for the program to get help through the department of community development.

Housing and Economic Opportunities of South Jersey might be able to help you get the home you’re looking for. You could be a first time home buyer in NJ! There are resources available for families who have low income and want to purchase a home in Camden County.

Cumberland County

The Gateway Community Action Partnership might be able to help you if you’re a first time home buyer in NJ. When you’re looking for a home in Cumberland County, you might want to check this resource first. Not only can they help you with housing and credit counseling but they can also help you purchase a home. They offer resources to provide assistance with down payments, closing costs and interest rates for those who qualify!

Essex County

Are you a first time home buyer in NJ looking for a house in East Orange? You could get help through the Department of Neighborhood Housing and Revitalization. There are programs available that might make it easier for you to purchase a home.

The Community Urban Renewal Enterprises might make it easier if you’re a first time home buyer in NJ. You could get help with a home purchase through their down payment assistance program and a variety of other programs.

Gloucester

The Department of Economic Development in Gloucester works with first time home buyers to provide them with HOME funds they might be able to use to purchase their first home. These funds can be used for a variety of expenses when you’re buying a home. You might also be able to find help through the program for lower down payment requirements.

The Gateway Community Action Partnership works with residents of Gloucester to provide them with help toward their home purchase. You could get assistance with your purchase to make buying a home easier and to make your living expenses less of a burden.

Hudson County

The Hudson County Housing Resource Center might be able to help if you’re a first time home buyer in NJ. You could get assistance through their first time home buyer program. They might be able to help with closing costs, a down payment or even an amount you can apply directly to your mortgage. The center also provides information for homeowners who want to learn more about the details of homeownership.

The Jersey City Division of Community Development might be able to help you own a home! They provide information on housing and might be able to provide you with access to different housing options you wouldn’t traditionally be able to find. There are a variety of programs available that could make it easier for you to purchase a home.

Mercer County

If you’re on a journey to become a first time home buyer in NJ, you might be able to get the help you need in Mercer County from the Housing and Community Development! There are a variety of programs that might make it easier for you to purchase a home and continue getting the options you need. You could even get assistance toward your down payment!

Trenton City Home Corporation, Inc. might be able to help you with your home purchase! You could get assistance with information for buying your first house, in addition, to help with down payments and even closing costs. The program might be able to help you learn more about home buying before you even purchase!

Middlesex County

If you’re a first time home buyer in NJ looking for a home in Middlesex County, you could get help through the American Dream program! The organization provides a lot of help to first time home buyers that might make owning a home so much easier. You could get assistance toward your down payment and closing costs!

The New Brunswick Office of Planning and Community development might be able to provide assistance for new construction or affordable housing. Since the city is seeing it’s first influx of new residents in a very long time, they might be able to provide more help to support this influx.

Monmouth County

If you’re in Asbury Park, you could get help through the Community Development program. The program might be able to help with down payments and closing costs if you’re a first time home buyer in NJ. You could also get assistance toward purchasing a home when you’re trying to find a new one or when you’re trying to get help finding the right home.

The Long Branch Community Assistance program provides help for New Jersey first time home buyers. You might need to meet requirements to get help through this program.

The Monmouth County Community Development division could help you find a home that works for your family. They might also be able to help you figure out where you need to get in your financial journey to purchase a home. There are a variety of resources they provide that could all make buying a home easier.

Morris County

Morris County resident? We found help through the Housing Partnership for Morris County! You might be able to get assistance with purchasing your home. You might also be able to find programs that could help you save money and could help make buying a home so much easier.

Ocean County

OCEAN could help you purchase a home. They provide economic planning and development for all of Ocean County. They work with people who have low income, people with less than perfect credit and people who thought they would never be able to purchase a home. You might be able to get help through OCEAN if you meet their requirements and are a first time home buyer in NJ.

Passaic County

Are you in Passaic? You might be able to get help through the Affordable Housing Corporation. This corporation not only provides help for people looking for their first home but they might also be able to provide help when it comes to a down payment or financing for that home!

Salem County

Residents of Salem might be able to get help through the Gateway Community Action Partnership. This program works with people who are in different areas of New Jersey. They could help you if you’re a first time home buyer in NJ. They might also be able to help you save money on the amount you pay for a down payment or even on closing costs!

Somerset County

The Central Jersey Housing Resource Center might be able to help you make your first home purchase in Somerset! You could get help with housing resources like down payment assistance and so much more!

Union County

If you’re in Union County and are considering becoming a first time home buyer in NJ, you might be able to get help through the Department of Economic Development. There are resources available for first time home buyers and so much more.

Serious about buying a house? Don’t miss these other resources!

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