Smart Start New Jersey DPA Program

Tap Into Down Payment Assistance Programs Available To You

First time home buyers in New Jersey have many options available to them for help in purchasing their first residence. If you feel that saving enough for a down payment will forever prevent you from buying your first residence, here’s some great news. The New Jersey Housing and Mortgage Finance Agency (NJHMFA), offers down payment assistance for New Jersey residents.




New Jersey Down Payment Assistance
New Jersey Down Payment Assistance

New Jersey DPA Details

Help coming up with the needed down payment is perhaps the greatest resource that you can tap into as a first time home buyer. Here are some details from the NJHMFA website:

Accumulating the funds for downpayment and closing costs is a common barrier to potential homeowners.

The Smart Start Program is available to participants in NJHMFA’s Homeward Bound Program who are purchasing homes in Smart Growth Areas.

The program offers zero-interest downpayment and/or closing cost assistance for up to 4% of the first mortgage amount, with loan forgiveness for buyers who remain in their home for five years.

Want to get your homeownership journey off to a Smart Start? Contact one of NJHMFA’s Participating Lenders and ask about how you can take advantage of this great program.

Get more information on our Smart Start Fact Sheet (351k PDF) or call 1-800-NJ-HOUSE.

To get complete program details, including income limits as well as how to get the application process started, please visit the NJHMFA website.