Direct: 856-419-3561 Office: 856-415-7720 eFax: 856-355-4760 Email Steve
NJ Mortgage Loan Officer Steve Kappre
There are many first time home buyer options for those looking to buy a home in New Jersey. There are specific mortgage loans, as well as down payment assistance and grant options to help a buyer obtain funds to by a home.
There are various first time home buyer programs available.
These programs may offer assistance in the form of percentages, such as 2 - 4% of the loan amount, or they may be flat dollar amounts, such as $3,000, $5,000, or even $10,000. These options can be used for the down payment requirements such as the 3.5% needed for an FHA loan, or for closing costs that need to be paid at settlement. Or they may be used for both.
New Jersey's SMART START program is one of the more popular first time home buyer options. This program is limited to certain lenders, and even at that, it is important that the specific loan officer you work with is experienced with writing these type of loans.