First-Time Home Buyer in ParamusYour Path to Homeownership Starts Here
Breaking into Bergen County real estate is challenging, but not impossible. We help first-time buyers navigate Paramus's market with special programs and expert guidance.
First-Time Buyer Programs for Paramus
FHA Loans - 3.5% Down
The most popular first-time buyer program. With just 3.5% down, you can purchase homes up to $828,000 in Bergen County. Gift funds allowed for down payment.
Example:
$500K condo = $17,500 down
Conventional 3% Down
HomeReady and Home Possible programs offer 3% down for qualified buyers. Income limits apply but are generous for Bergen County. PMI can be removed.
Income Limit:
$109,200 for Paramus area
NJ Housing Programs
NJHMFA First-Time Buyer program offers down payment assistance up to $15,000. Below-market interest rates available for qualified Bergen County buyers.
Assistance:
Up to 4% of loan amount
HomeFundIt Crowdfunding
CMG's exclusive program lets family and friends contribute to your down payment through a crowdfunding platform. Perfect for Paramus millennials.
Average Raised:
$8,000-12,000
Overcoming Paramus Market Challenges
Paramus's competitive market presents unique challenges for first-time buyers. Here's how we help you compete successfully against cash offers and multiple bids.
Market Realities
- • Median home price: $625,000
- • Average days on market: 35
- • Multiple offers common
- • 20% of sales above asking
- • Inventory shortage ongoing
Our Solutions
- Fast 21-day closings
- Fully underwritten pre-approvals
- Appraisal gap coverage options
- Escalation clause guidance
- Local agent partnerships
Starter Home Strategy:
Consider condos and townhomes as your entry into Paramus real estate. Many complexes near Garden State Plaza offer units under $500K—perfect for building equity before moving to a single-family home.
First-Time Buyer Education & Resources
Free Homebuyer Classes
Attend our monthly first-time buyer seminars in Paramus. Learn about the process, financing options, and Bergen County market trends. Certificate provided for down payment assistance programs.
Register for Next Class →Budget Planning Tools
Use our calculators to determine affordability, estimate monthly payments, and understand closing costs. Get a realistic picture of homeownership costs in Bergen County.
Access Calculators →First-Time Buyer Tips for Paramus:
- • Get pre-approved before viewing homes—sellers prioritize ready buyers
- • Consider all seasons—spring is busiest, winter may offer less competition
- • Factor in property taxes—Paramus averages $12,000-15,000 annually
- • Explore nearby towns—Fair Lawn and River Edge offer more affordable options
- • Work with a local agent who knows Bergen County inventory
Your First Home Timeline
Month 1: Preparation
Check credit, save for down payment, attend homebuyer education. Get pre-approved to understand your budget for Paramus homes.
Month 2-3: House Hunting
View properties, make offers, negotiate. In Paramus's fast market, be ready to act quickly when you find the right home.
Month 3-4: Under Contract
Inspection, appraisal, final loan approval. Work through any conditions with your lender. Prepare for closing costs and moving.
Month 4: Closing
Final walkthrough, sign documents, receive keys. Welcome to homeownership in Paramus! Start building equity in Bergen County real estate.
Ready to Buy Your First Home in Paramus?
Join hundreds of first-time buyers we've helped achieve homeownership
NMLS #1577754 | First-Time Buyer Specialist | Equal Housing Opportunity