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Down payment Assistance for NJ Homebuyers

Sick of renting year after year? There’s good news for first-time homebuyers in New Jersey!


The state provides the NJHMFA Down Payment Assistance Program (DPA) which offers up to $15,000 towards your first home purchase as a forgivable loan. This loan has no interest and no monthly payments. Here are the qualifications:


  • Must be a first-time homebuyer (have not owned a home in the previous three years)

  • Planning to purchase a home as primary residence in the state of NJ

  • DPA must be paired with an NJHMFA first mortgage loan

  • Borrowers must meet credit score and debt-to-income requirements

  • Purchase price and income restrictions do apply and are set by county. (Bergen & Passaic County income limits are currently $138,500 for 1-2 family households)


For more information on how to apply and FAQs, click here to visit the New Jersey Housing and Mortgage Finance Agency (NJHMFA) website. Program fact sheet available here.


Note: Information provided is subject to change. Check with NJHMFA for most current information.

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