FHA Down Payment Assistance Program

 

FHA DOWN PAYMENT ASSISTANCE PROGRAM

Download printable flyer here

First time buyers get money for down payment and closing costs!

Through NJ’s Housing and Mortgage Finance Agency, Greenway is able to offer First Time homebuyers in NJ an FHA mortgage with a $10,000 grant for down payment and closing costs.*

Program Details:

  • $10,000 towards down payment and closing costs
  • All New Jersey properties eligible (no zone restrictions)
  • First-time buyer is anyone that has never owned a home or hasn’t owned in the last 3 years


The Fine Print

  • Approved counseling required
  • 3yrs tax returns, NJ and Fed
  • 3mo bank statements
  • Borrowers with funds to cover 20% down payment ineligible
  • Forgivable 2nd lien expires after 5 years as primary residence
  • First lien has 9 year recapture tax

*While grant funding is available. Eligibility requirements, exclusions and other terms and conditions apply.