First-time Home Buyers Assistance Program

The Monmouth County, New Jersey First-Time Homebuyers Assistance Program

The Monmouth County, NJ First Time Homebuyer Assistance Program is designed to provide financial assistance to low income families to purchase an affordable home in the form of a deferred payment second mortgage loan in an amount not to exceed $10,000 for down payment and closing costs (only).


  • MUST BE a resident of Monmouth County for 1 YEAR before applying for a grant.

  • ALL applicants must complete a pre-purchase housing counseling course and provide a certificate of completion with the First-Time Homebuyer application.

  • MUST BE an individual(s) that never owned a home (except if an applicant has previously owned a home he/she still may qualify if they meet 1 or more of the following criteria:

    • An individual that has not owned a home in 3 years prior to receiving home assistance. 

    • An individual who is a single parent even if the individual owned a home with his or her spouse or resided in a home owned by the spouse

    • An individual who is a displaced homemaker even if as a homemaker the individual owned a home with his or her spouse or resided in a home owned by the spouse. 

FTHB Monmouth County NJ - Loan Limits 2023


  • Property MUST be the principal residence

  • Applicant must purchase a house located in the participating municipalities ONLY.

  • First-time homebuyer can only purchase a 1-4 family property or condominium unit.

  • Housing unit cannot exceed the max purchase price of $461,000 for 1-family & condominium, $590,000 for 2-family unit, $714,000 for a 3-family unit and $885,000 for a 4-family unit.
  • Mobile homes are not eligible for purchase using First-time Homebuyer program funds

  • Co-signor not allowed

  • Eligibility requirements, exclusions and other terms and conditions apply.


Have Questions? Speak with one of our loan officers directly at (908) 489-4658
We are here to answer any of your questions.


*Participating Municipalities: Aberdeen, Fair Haven, Marlboro, Shrewsbury Borough, Allenhurst, Farmingdale, Matawan, Shrewsbury Twp, Allentown, Freehold Borough, Middletown, South Belmar, Atlantic Highlands, Freehold Twp, Millstone, Spring Lake, Asbury Park, Hazlet, Monmouth Beach, Spring Lake Heights, Avon, Highlands, Neptune Twp, Tinton Falls, Belmar, Holmdel, Neptune City, Union Beach, Bradley Beach, Howell, Ocean, Upper Freehold, Brielle, Keansburg, Oceanport, Wall, Colts Neck, Keyport, Red Bank, West Long Branch, Deal, Loch Arbour, Roosevelt, Eatontown, Long Branch, Rumson, Englishtown, Manalapan, Sea Bright.