Effective today, June 5, NJHMFA has relaunched 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.
- First-Time Homebuyer Program loans are subject to a pre-closing review and approval by NJHMFA.
- The NJHMFA Down Payment Assistance Program (“DPA”) can be used in conjunction with the first mortgage loan with no increase in interest rate.
- Canceling an existing reservation and creating a new reservation for the same borrower/property for the purpose of obtaining a reduced interest rate will not be acceptable.
The NJHMFA Participating Lenders Guide (“Seller’s Guide”) will be updated shortly with full detail.