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NJHMFA Down Payment Assistance Program

Quick answer

NJHMFA Down Payment Assistance Program is a New Jersey down payment assistance program from New Jersey Housing and Mortgage Finance Agency. It provides Up to $15,000 based on the county of the property as a forgivable loan. It is aimed at first-time buyers. Eligibility, income limits and funding are set by the agency, so confirm current terms on its official page.

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Who qualifies for NJHMFA Down Payment Assistance Program?

Must be paired with an NJHMFA first mortgage loan; for qualified first-time homebuyers.

DetailProgram terms
AssistanceUp to $15,000 based on the county of the property
TypeForgivable loan
Minimum creditNot published on the program page
First-time buyerRequired
Income limitsMaximum household income and purchase price limits apply.

How does NJHMFA Down Payment Assistance Program work with an FHA loan?

New Jersey's 2026 FHA one-unit limits start at $541,287, which supports a price of about $560,000 with 3.5% down. On a $250,000 home, the minimum FHA down payment is $8,750 — assistance of up to $15,000 could cover it and part of closing costs, subject to program rules.

Where do I confirm current terms?

On the official page: https://www.nj.gov/dca/hmfa/homebuyers-and-renters/homebuyers/. Programs can pause when funds run out, so confirm availability with a participating lender.

“provides up to $15,000 based upon the county of the property being purchased.” — New Jersey Housing and Mortgage Finance Agency

← All New Jersey down payment assistance programs

Frequently asked questions

Up to $15,000 based on the county of the property, according to New Jersey Housing and Mortgage Finance Agency.

It's a forgivable loan: forgiven if you meet the occupancy period, otherwise repaid.

Maximum household income and purchase price limits apply.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.