Effective June 5, 2018, NJHMFA will relaunch our First-Time Homebuyer Program! Please note the following:
- The First-Time Homebuyer Program will be available for use with Ginnie Mae loan products only. Conventional loan products will not be permitted.
- The First-Time Homebuyer Program loans will be underwritten prior to closing by NJHMFA.
- The NJHMFA Down Payment Assistance Program (DPA) can be used in conjunction with the first mortgage loan.
- There will be no increase to the interest rate of the associated first mortgage when utilizing DPA.
The NJHMFA is in the process of updating the Participating Lenders Guide. We will advise you when the updates are completed.