June 16, 2026

Lender Bulletin 2026-9

Seller Guide Update Notice

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Effected Programs: First Time Homebuyer, Homeward Bound, and HFA Advantage

Attention Lenders: 

NJHMFA Updated Income and Purchase Price Limits

This bulletin is to notify lenders that on June 17, 2026, NJHMFA will be adjusting our income limits for the First Time Home Buyer Program, the Homeward Bound Program, and the HFA Advantage Program, and purchase price limits will be adjusted for the First Time Home Buyer Program. The income limits and maximum purchase price limits have been updated in the links below. They can also be viewed on the Lender Portal Page.

Key changes to the program income limits:

First-Time Home Buyer program: Statewide income limits have increased for all counties. The increases range from $900 to $11,340, depending on county, family size, and targeted area location.

Homeward Bound and HFA Advantage Program income limits have also increased for all counties. The increases range from $1,080 to $9,720 depending on the county. 

For the HFA Advantage Program, the incomes used to calculate eligibility for the lower PMI costs afforded to some HFA Advantage borrowers have been adjusted by Freddie Mac on June 13, 2026.

As a reminder, these levels are applicable only for those loans with LPA findings indicating eligibility for charter-level mortgage insurance due to the income on the loan being at or below 80% of Freddie Mac’s AMI, which may be different from the NJHMFA AMI used for overall loan eligibility.

Key changes to the program purchase price limits:

• First Time Home Buyer Program purchase price limits have increased between 4% & 10% for all counties except Atlantic County, which increased 40%.

• For Federal Housing Administration (FHA) and Veteran Administration (VA) maximum mortgage amounts prevail if more restrictive than NJHMFA limits.

• For the HFA Advantage Program, Freddie Mac maximum mortgage amounts apply, and super-conforming mortgage loan amounts are not eligible.

Please refer to the new limits going forward for eligibility purposes.

The new limits will be applied to all new reservations as of June 17, 2026. Pipeline loans will continue to use the prior limits in our systems.

If a pipeline loan that has not been through NJMHFA

underwriting review would benefit from the expanded limits, please

submit an underwriting escalation request via the underwriting queue in the Loan Portal.

Click Below for Updated Income and Purchase Price Limits:

·       HFA Advantage Consumer Fact Sheet and Income Limits

·       Homeward Bound Fact Sheet and Income Limits

·       First Time Homebuyer Fact Sheet and Income Limits

Lenders may view the updated Seller Guide by accessing the NJHMFA website. Under Lender Resource Site and Lender Policy and Procedures (Seller’s Guide).