New Jersey homebuyers can access up to $15,000 in down payment assistance through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). On the state's $569,314 median home price, that covers roughly 13% of a standard 20% down payment. New Jersey has 2 state DPA programs total.
Primary Program: NJHMFA Down Payment Assistance Program
maximum assistance
Forgiven after 5 years if you remain in the home as your primary residence.
- Administering Agency
- New Jersey Housing and Mortgage Finance Agency (NJHMFA)
- Purchase Price Cap
- $726,200
- Forgiveness Term
- 5 years
Additional New Jersey DPA Programs
Police and Firemen's Retirement System (PFRS) DPA
Forgivable Loan$15,000
Forgiven over time if you remain in the home as your primary residence.
Apply / Learn MoreHow Down Payment Assistance Works
Most state DPA programs are layered on top of a first mortgage — you apply through an approved lender who originates both the primary loan and the DPA second lien at the same closing. The DPA funds reduce the cash you need upfront.
Grants
Free money — no repayment ever. Typically the smallest amounts but highest value.
Forgivable Loans
Balance forgiven after a set period (usually 3–15 years) if you stay in the home. Selling early triggers repayment.
Deferred Loans
No monthly payments. Balance due when you sell, refinance, or pay off your mortgage.
Down Payment Calculator
Down Payment Planner
New Jersey median pre-loaded
Your Savings Plan
Timeline
19.0 yrs
saving $500/mo
No PMI at 20% down
20% or more avoids private mortgage insurance entirely.
Estimate only — does not include investment returns on savings.
Full Calculator →Frequently Asked Questions
What down payment assistance is available in New Jersey?
New Jersey's primary DPA program is the NJHMFA Down Payment Assistance Program, administered by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). It provides up to $15,000 as a forgivable loan. Forgiven after 5 years if you remain in the home as your primary residence. Additional programs include Police and Firemen's Retirement System (PFRS) DPA.
How much down payment do I need in New Jersey after using DPA?
On a $569,314 home (New Jersey median), a 20% down payment is $113,863. With the NJHMFA Down Payment Assistance Program covering $15,000, your remaining gap would be $98,863. Many buyers combine DPA with a 3–5% conventional or FHA loan to reduce their cash needed further.
Do I have to repay New Jersey down payment assistance?
Forgiven after 5 years if you remain in the home as your primary residence.
Can I combine New Jersey DPA with other assistance programs?
Yes — New Jersey's DPA programs can generally be combined ("stacked") with local city and county assistance programs, employer homebuyer benefits, and federal programs. Check with an approved lender or HUD-approved counselor to identify all programs you qualify for.
What are the income limits for New Jersey down payment assistance?
The NJHMFA Down Payment Assistance Program uses a dollar-based income limit rather than a percentage of AMI. Check the New Jersey Housing and Mortgage Finance Agency (NJHMFA) website for current limits in your area.
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