First-Time Homebuyer Program

Down Payment Assistance Program

Are you a first-time buyer and the first in your family to own a home? You may qualify for an incredible $22,000 in assistance through the First Generation Homebuyer Program.

First-Time Homebuyer Program Overview

Welcome to the First-Time Homebuyer Program, brought to you by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). Advisors Mortgage is proud to guide you through this program, designed to assist new buyers in achieving the milestone of homeownership. Whether you’re buying your first home or re-entering the housing market, this program offers the support you need to make informed and confident decisions.

What is the First-Time Homebuyer Program?

The NJHMFA First-Time Homebuyer Program is a pivotal initiative aimed at helping individuals and families purchase their first homes in New Jersey. This program recognizes the unique challenges first-time buyers face and offers tailored support to navigate the home buying process.

Key Features of the Program

  • Attractive Mortgage Options: Offers competitive 30-year, fixed-rate government-insured loans (FHA/VA/USDA).
  • Financial Accessibility: Designed to make homeownership more accessible for first-time buyers.
  • Down Payment Assistance Available: Eligible buyers can combine this program with NJHMFA’s Down Payment Assistance Program.

Eligibility Criteria

  • First-Time Buyer Status: You must not have owned a home within the past three years.
  • Income and Purchase Price Limits: Varies based on location and family size, with specific limits to ensure the program serves its intended audience.
  • Primary Residence Requirement: The purchased property must be used as your primary residence.
  • Credit and Financial Requirements: Applicants must meet certain credit score and debt-to-income ratio requirements.

Application Process

  1. Consultation with Advisors Mortgage: Start by discussing your goals and understanding the program details with our experts.
  2. Mortgage Pre-Approval: Obtain pre-approval for a mortgage through an NJHMFA participating lender.
  3. Program Application: Apply for the First-Time Homebuyer Program in conjunction with your mortgage application.
  4. Property Search: Begin searching for your dream home in New Jersey, knowing you have the support of a specialized program.

Why This Program?

  • Tailored to First-Time Buyers: Specifically designed to meet the needs of those new to the housing market.
  • Comprehensive Support: Advisors Mortgage provides end-to-end guidance, from understanding the program to closing on your home.
  • Financial Empowerment: Enables buyers to enter the housing market with a more manageable financial commitment.

Your Next Steps

Ready to take the leap into homeownership? Let Advisors Mortgage help you navigate the First-Time Homebuyer Program. Our team of experienced professionals is committed to providing the support and expertise you need to make your home buying experience seamless and rewarding.

Reach out to us today or call 866-761-7979 to learn more about how we can assist you in realizing your dream of homeownership in New Jersey.