New Jersey Down Payment Assistance: What Every Buyer Should Know
- Grants and Forgivable Funds: New Jersey offers down payment assistance programs that provide grants or forgivable loans, meaning qualified buyers may not have to repay the funds if program guidelines are met. This can significantly reduce the amount of cash needed to buy a home.
- Affordable Second Loans: Some programs offer low-interest or deferred-payment second mortgages that help cover your down payment and closing costs. These options allow buyers to preserve savings while still becoming homeowners.
- HOPER Program: If you are applying for an FHA 203(b) loan, you can get 3.5% of your homes value up to $13,000 to help cover closing costs, downpayment and/or pay off debts.
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**The information, views and opinions expressed in this blog are those of the author, and do not necessarily reflect the views or positions of CrossCountry Mortgage, LLC.**
This is not a commitment to lend. All loans subject to underwriting approval. Certain restrictions apply. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program.
CrossCountry Mortgage , LLC | NMLS 3029 | Equal Housing Opportunity All loans subject to underwriting approval. Not all applicants will qualify. This is not a commitment to lend. Example scenario is for illustrative purposes only and not a guarantee of future results. Information is for educational purposes only and not financial or investment advice.