Home Buying Programs In Nj Apr 2026

"We have the savings," Elias said, staring at a spreadsheet, "but not for a 20% down payment and closing costs on a place that isn't falling apart."

They also looked into local perks. In Newark, they found the Live Newark program , which offered additional forgivable loans for closing costs. If they had looked further south, the Camden County First Time Homebuyer Program could have provided up to $25,000. First Time Home Buyers | Camden County, NJ

That question opened even more doors. Because Elias’s parents had never owned a home, he qualified as a "first-generation" buyer. By stacking the First-Generation Down Payment Assistance with the statewide program, they were eligible for up to $22,000 in total support.

Their lender explained that the money wasn't just a loan; it was a forgivable one. If they lived in the house as their primary residence for five years without refinancing, the debt would vanish.