NJ Down Payment Assistance Programs 2025
Complete guide to every down payment assistance program in New Jersey. Get up to $22,000 in forgivable assistance, gift funds, and 0% down loan options.
NMLS 1577754 • Licensed in NJ, NY, PA, CT, MD, OH, GA
State & Federal Assistance Programs
NJHMFA Down Payment Assistance - $15,000
New Jersey Housing and Mortgage Finance Agency's flagship program provides up to $15,000 in forgivable assistance for down payment and/or closing costs.
Requirements:
- No home ownership past 3 years
- Primary residence in NJ
- Meet income limits (varies by county)
- Complete homebuyer education course
- Use NJHMFA first-time buyer mortgage
- Credit score 660+
First-Generation Down Payment Assistance - $7,000
Additional forgivable assistance for first-generation homebuyers whose parents/guardians don't own property, or who were in NJ foster care.
Qualifications:
- Your parents/legal guardians do not own residential real property OR
- You were in the NJ foster care system
- Can be combined with $15,000 NJHMFA assistance
FHA Loans - 3.5% Down + Gift Funds Allowed
Federal Housing Administration loans allow just 3.5% down and permit 100% gift funds from family members or employers.
VA Loans - 0% Down for Veterans
Veterans, active duty military, and eligible spouses can purchase with $0 down payment. No PMI required.
Conventional 97 Loans - 3% Down
Fannie Mae HomeReady and Freddie Mac Home Possible programs allow just 3% down for first-time buyers with good credit.
Ready to Access NJ Down Payment Assistance?
We're NJHMFA-approved lenders and help you access every dollar of assistance available. Get pre-approved in 24 hours and start your home search.
Jimmy Joseph MBA • NMLS 1577754 • jjoseph@cmghomeloans.com