NJ Conventional DPA Program

 

Home Affordable Refinance Program (HARP)
Download in printable format here

Greenway's NJ Conventional Down Payment Assistance Program

Affordable Mortgages with $10,000 for down payment and closing costs.

The state of NJ is finally offering a conventional version of their down payment assistance program for first time buyers. Now, qualified clients can receive $10,000 to be used towards down payment and closing with affordable mortgage insurance premiums that follows conventional mortgage guidelines. 

Program Details

  • 30-year, Fixed-Rate Conventional Loan 
  • Affordable Mortgage Insurance Premiums
  • $10,000 for Down Payment and Closing Costs

Fine Print

  • First-time buyers are borrowers that have not had an ownership interest in their primary residence during the previous three years
  • DPA is a $10,000 forgivable loan with no interest and no monthly payments. Forgiven after 5 years as primary residence (While grant funds are available)
  • Single-Family Properties and Condos, Owner Occupied, Primary Residence in NJ, Minimum FICO 620
  • Income limits are determined by the county of the purchase property, but must not exceed 80% of Area Median Income. Please reference the Freddie Mac HFA Income Limits for additional details

Eligibility requirements, exclusions and other terms and conditions apply. 

Have Questions about our NJ Conventional DPA Program? Fill out the form below.