NJHMFA Lender Bulletin
Important Program Updates for Participating Lenders
June 12, 2020
Lender Bulletin 2020-9:
Updated Income and Purchase Limits 
Effected Programs: FTHB and Homeward Bound
Effective Date: June 12, 2020
Due to the current health concerns related to COVID-19, the vast majority of NJHMFA staff will be working remotely until further notice. Please contact Agency staff via their work email address. NJHMFA encourages all of our business partners and constituents to submit any and all documentation in an electronic format whenever possible as staff will continue to check email and review information submitted electronically.  
Attention Lenders:

First Time Home Buyer (FTHB) Program maximum income and purchase price limits for Statewide and Urban Target Areas (UTAs) and Homeward Bound Program maximum income and purchase price limits have been updated in our system and can be accessed below or through the   Lender Resource page .

Federal Housing Administration (FHA) and Veteran Administration (VA) maximum mortgage amounts prevail if more restrictive.

Please refer to the new limits going forward for qualifying purposes. The updated limits apply for new reservations. Pipeline loans reserved prior to the system changes will be honored under the old limits.
Questions? Need Help? 

If you have questions about one of our loan products or need help with a loan in the ILRS system, please e-mail your requests to   SFLenders@njhmfa.gov

Access Forms, Checklists, Policies, Previous Lender Bulletins and More at the Lender Resources Page: www.njhousing.gov/lenders/
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New Jersey Housing and Mortgage Finance Agency | 609-278-7400 | NJHousing.gov