HFA Advantage Mortgage Program

Advisors Mortgage

HFA Advantage Mortgage Program Overview

Welcome to the HFA Advantage Mortgage Program, a cornerstone initiative of the New Jersey Housing and Mortgage Finance Agency (NJHMFA). At Advisors Mortgage, we are dedicated to guiding you through this advantageous program, designed to make homeownership more accessible and affordable, especially for those who are stepping into the housing market for the first time.

About the HFA Advantage Mortgage Program

The HFA Advantage Mortgage Program is tailored to provide eligible homebuyers in New Jersey with a competitive edge in the housing market. This program offers a 30-year fixed-rate conventional loan, making it an excellent choice for those seeking stability and predictability in their mortgage payments.

Program Highlights

  • Fixed-Rate Conventional Loan: Offers the security of a 30-year fixed-rate mortgage.
  • Affordable Mortgage Insurance: Lower mortgage insurance costs compared to standard rates.
  • Low Down Payment Options: Makes it easier to purchase a home with more manageable upfront costs.
  • Compatibility with Down Payment Assistance: Can be coupled with NJHMFA’s Down Payment Assistance Program for additional financial support.

Eligibility Requirements

  • First-Time and Repeat Buyers: Open to both first-time homebuyers and those who have previously owned homes.
  • Income Limits: There are specific income limits based on the county of the purchase property. Please call 866-761-7979 for a NJHMFA specialist.
  • Credit Score Criteria: Applicants must meet a minimum credit score requirement to qualify.
  • Primary Residence: The property purchased must be occupied as the borrower’s primary residence.

Applying for the Program

  1. Meet with an Advisors Mortgage mortgage professional: Start by discussing your eligibility and the details of the HFA Advantage Mortgage Program with our experts.
  2. Mortgage Pre-Approval: Obtain pre-approval for the HFA Advantage Mortgage through an NJHMFA participating lender.
  3. Combine with Down Payment Assistance: Explore the option of pairing this mortgage with NJHMFA’s Down Payment Assistance for added benefits.
  4. Begin Your Home Search: With financing in place, you can confidently start looking for your new home.

Why Choose the HFA Advantage Mortgage Program?

  • Financial Stability: Long-term fixed-rate mortgages provide peace of mind and stable monthly payments.
  • Reduced Initial Costs: Lower down payment and mortgage insurance requirements ease the financial burden of purchasing a home.
  • Expert Support: Advisors Mortgage offers personalized guidance, ensuring you understand all aspects of the mortgage process.

Get Started with Advisors Mortgage

Embarking on your home buying journey with the HFA Advantage Mortgage Program begins here. Reach out to a Advisors Mortgage loan officer for comprehensive support and expert advice tailored to your homeownership goals.

Contact us today or call 866-761-7979 to learn more and start your journey to a new home in New Jersey.