How NJHMFA helps you
up to $22,000 toward
Your Down Payment
and closing cost
Wishing you could buy your first home? Between interest rates, home prices, and down payments, it’s a costly venture that not everyone can afford. It can be especially hard for first-generation home buyers. But New Jersey Housing and Mortgage Finance (NJHMFA) have a program that can help.
CMG Home Loans is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal housing lender. Licensed by the Department of Financial Protection and Innovation (DFPI) under the California Residential Mortgage Lending Act No. 4150025.; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Hawaii Mortgage Loan Originator Company License No. HI-1820. Mortgage Servicer License No. MS068. Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; Registered Mortgage Banker with the Texas Department of Savings and Mortgage Lending, and Licensed by the Virginia State Corporation Commission #MC-5521. Licensed by the Washington Department of Financial Institutions under the Consumer Loan Act No. CL-1820. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. NMLS Consumer Access (www.nmlsconsumeraccess.org).
Anthony Barber
Branch Manager, NMLS ID# 210951
Contact Your
Local Lender For More Information!
What is a first-generation home buyer?
NJHMFA Down Payment Assistance
An individual:
Whose parents or legal guardians do not have any present ownership interest in any residential real property in any state or territory of the United States
Whose spouse, or domestic partner, and each member of whose household has not, during the 3-year period ending upon acquisition of the eligible home to be acquired using such assistance, had any present ownership interest in any residential real property used as their principal residence in any state or territory of the United States. or outside the United States
An individual who has at any time been placed in foster care in the State of New Jersey
AND
OR
$22,000
Wishing you could buy your first home? Between interest rates, home prices, and down payments, it’s a costly venture that not everyone can afford. It can be especially hard for first-generation home buyers. But New Jersey Housing and Mortgage Finance (NJHMFA) have a program that can help.
NJHMFA Down
Payment Assistance
What is a
first-generation home buyer?
An individual:
Whose parents or legal guardians do not have any present ownership interest in any residential real property in any state or territory of the United States
Whose spouse, or domestic partner, and each member of whose household has not, during the 3-year period ending upon acquisition of the eligible home to be acquired using such assistance, had any present ownership interest in any residential real property used as their principal residence in any state or territory of the United States. or outside the United States
An individual who has at any time been placed in foster care in the State of New Jersey
AND
OR
How NJHMFA helps you
30-year Fixed-Rate First Mortgage
Down Payment Assistance (DPA) Program
Smart Start Plus
First-Generation Home Buyer
Program
Up to $22,000 towards down payment & closing costs!
Toward Your Down Payment
The down payment assistance programs come as forgivable second loans*. Check out the county list to see how much you could get towards your down payment!
County List
Amount of Smart Start DPA
First-Generation Home Buyer
Total Amount
Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Salem, Sussex, Warren
$10,000
$7,000
$17,000
Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Union
$15,000
$7,000
$22,000
30-year Fixed-Rate First Mortgage
Down Payment Assistance (DPA) Program
Smart Start Plus
First-Generation Home Buyer
Program
Up to $22,000 towards down payment & closing costs!
*Loan is forgiven over a period of 5 years, as long as the borrower remains in property as their primary residence. If home is sold, transferred, or no longer is borrower’s primary residence, the unforgiven funds will become due and payable.
If the NJHMFA isn’t for you, consider the FHA Buyer’s Choice Program ALSO Available outside of NJ
Does not require
First-time buyer
Home buyer education
Special home location
Military experience
Certain income limit
5-yr forgivable down payment grant
OR
10-yr repayable second mortgage for your down payment AND a lower mortgage rate on your primary loan
The Choice
Plus, it allows for lower credit scores than some other down payment assistance programs and has a higher loan-to-value (LTV)
If you choose the 10-year option, you can also get a LOWER INTEREST RATE on your main loan
What does this mean?
It can cover a buyer's entire down payment AND some closing costs
101.5% LTV
If the NJHMFA
isn’t for you,
consider the FHA Buyer’s Choice Program ALSO Available outside
of NJ
Special home location
Military experience
Certain income limit
First-time buyer
Home buyer education
Does not require
Plus, it allows for lower credit scores than some other down payment assistance programs and has a higher loan-to-value (LTV)
What does this mean?
It can cover a buyer's entire down payment AND some closing costs
101.5% LTV
If you choose the 10-year option, you can also get a LOWER INTEREST RATE on your main loan
10-yr repayable second mortgage for your down payment AND a lower mortgage rate on your primary loan
5-yr forgivable down payment grant
OR
The Choice
Everyone was absolutely over the top. Helped me get through every turn. Josh was unbelievable from our first talk and his office was outstanding. Highly recommended them. Thanks again.
HIGHLY RECOMMENDED
Dorothy W.
Google Review (April. 2025)
What a amazing team All professional team
AMAZING TEAM
Shahen G.
Testimonial Tree Review (May. 2025)
It was great working with Josh and team. They went above and beyond for me to close early.
ABOVE AND BEYOND
Cynthia T.
Testimonial Tree Review (May. 2025)
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Testimonials
CMG Mortgage, Inc. dba CMG Home Loans, NMLS ID# 1820 (www.nmlsconsumeraccess.org, www.cmghomeloans.com.), Equal Housing Opportunity. Licensed by the NJ Department of Banking and Insurance. AZ license #0903132. To verify our complete list of state licenses, please visit http://www.cmgfi.com/corporate/licensing.
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