August 26, 2021
Lender Bulletin 2021-7: First Time Homebuyer (FTHB) Qualification Update
Effected Programs: First Time Home Buyer
Effective Date: Immediately
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:

The Agency has made following changes to the First Time Home Buyer (FTHB) Program:
FTHB Qualification: Only the borrowers, co-borrowers and mortgagors will need to meet the FTHB definition.

Previously, the program required that no household member could have owned property within the past three (3) years. Moving forward, that requirement will only pertain to the borrowers, co-borrowers and mortgagors as opposed to all household members.

Annual Household Income: Only the income of borrowers, co-borrowers and mortgagors will be used to determine FTHB Program eligibility.

Previously, the Agency included the income of all adults in the household when determining FTHB Program eligibility. Beginning immediately, the Agency will only include the gross annual household income of borrowers, co-borrowers and co-mortgagors. The gross annual household income must not exceed the NJHMFA First-Time Homebuyer Program income limit applicable to the Property’s County 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

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New Jersey Housing and Mortgage Finance Agency | 609-278-7400 |