NJHMFA is pleased to announce that funding has been allocated to continue the Down Payment Assistance program through the fourth quarter of 2020, with no seasonal interruptions.
On June 5, 2018, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) announced the NJHMFA Down Payment Assistance (DPA) program.
At that time:
- The NJHMFA combined our “HomeSeeker” and “Smart Start” programs into one statewide DPA program, no longer limiting the Program to select counties and “Smart Growth” areas.
- The DPA amount was standardized to provide a flat $10,000 toward down payment and closing cost assistance.
- Funding was allocated for 1,000 DPA units.
Should the NJHMFA need to limit allocation in the future, we anticipate that we will be able to provide a minimum of 30-45 days of notice, and that all active reservations will be honored.
We are excited to share this success with you, our lending partners, and anticipate helping many more New Jersey citizens realize their dream of homeownership in the coming years.