First-Time Home Buyer Grants & Programs in New Jersey: How the Shaina McAndrews Team Can Help You Get the Keys to Your Dream Home

First-Time Home Buyer Grants & Programs in New Jersey: How the Shaina McAndrews Team Can Help You Get the Keys to Your Dream Home

Buying your first home in New Jersey is an exciting milestone, but let’s be real—it can also feel overwhelming when it comes to saving for a down payment, covering closing costs, and navigating loan programs.

The good news? New Jersey offers several grants and assistance programs to help first-time buyers afford homeownership. Even better? You don’t have to navigate this process alone!

At The Shaina McAndrews Team at eXp Realty, we specialize in helping first-time buyers find and secure financial assistance—ensuring you maximize the programs available to you. Whether you’re buying in Camden County, Burlington County, Gloucester County, or anywhere in the Garden State, we’re here to help make homeownership a reality!

Here’s what you need to know about New Jersey’s first-time homebuyer grants and programs—and how we can help you take advantage of them.

1. The NJHMFA First-Time Homebuyer Mortgage Program

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers a special mortgage program to help first-time homebuyers secure competitive rates and financial assistance.

• What You Get:
  A 30-year, fixed-rate mortgage at a competitive interest rate
  Can be combined with down payment assistance programs
  Available for FHA, VA, USDA, and conventional loans

• Eligibility Requirements:
  Must be a first-time homebuyer (or haven’t owned a home in the past 3 years)
  Must purchase a home in New Jersey as your primary residence
  Household income must meet program limits

  This program is the foundation for many of NJ’s first-time buyer assistance grants!

2. NJHMFA Down Payment Assistance Program – Get Up to $10,000!

One of the best grants available in New Jersey is the NJHMFA Down Payment Assistance Program, which provides up to $10,000 to help first-time buyers with down payment and closing costs.

• What You Get:
  $10,000 in down payment and closing cost assistance
  0% interest loan with no monthly payments
  The loan is forgiven after 5 years if you stay in the home

• Eligibility Requirements:
  Must be a first-time homebuyer
  Must qualify for the NJHMFA First-Time Homebuyer Mortgage Program
  The home must be your primary residence

  This is a HUGE help in making homeownership affordable. Many buyers stack this grant with other programs to reduce their out-of-pocket costs even further!

3. First-Generation Down Payment Assistance Program – Extra $7,000 for Eligible Buyers!

If you’re a first-generation homebuyer, you may qualify for an additional $7,000 in down payment assistance—on top of the NJHMFA $10,000 grant!

• What You Get:
  $17,000 total assistance for down payment & closing costs
  Forgiven after 5 years if you stay in the home
  Available statewide for first-generation homebuyers

• Eligibility Requirements:
  Must meet income guidelines
  Must be a first-generation buyer (parents or guardians do not own a home)
  Must purchase a primary residence in New Jersey

  If you qualify for this and the NJHMFA grant, you could get up to $17,000 in assistance!

5. Homeward Bound Mortgage Program

The Homeward Bound Mortgage Program is another NJHMFA initiative offering a 30-year, fixed-rate government-backed mortgage for first-time buyers.

• What You Get:
  Affordable mortgage rates
  Can be combined with NJHMFA’s $10,000 down payment grant
  Works with FHA, VA, and USDA loans

• Eligibility Requirements:
  Must be a first-time homebuyer
  Must meet income limits and purchase price limits

This program is ideal for buyers who need affordability and stability in their loan terms!

How The Shaina McAndrews Team Helps You Get Approved & Into Your First Home

Navigating these programs can be confusing, but that’s where we come in! Here’s how our team makes buying your first home in New Jersey easy:

• We connect you with the RIGHT lenders who specialize in first-time buyer programs
  We guide you through the application process for grants and assistance programs
  We help you find the perfect home that fits your budget & program eligibility
  We negotiate the best possible deal—saving you even more money!

• Don’t let the fear of down payments or closing costs keep you from homeownership. With the right guidance and grants, your dream home is closer than you think!

Schedule a Free Home Buying Consultation
Email us at: Shaina@MontCoLiving.com

Let’s make 2025 the year you become a homeowner in New Jersey!