Through NJ’s Housing and Mortgage Finance Agency, Greenway is able to offer First-time homebuyers in New Jersey an FHA Mortgage with a $10,000 grant for down payment AND closing costs.
Program Details
- $10,000 towards down payment and closing costs
- All New Jersey properties eligible (no zone restrictions)
- First-time buyer is anyone that has never owned a home or hasn't owned in the last 3 years
The Fine Print
- Approved counseling required
- 3yrs tax returns, NJ and Fed
- 3mo bank statements
- Borrowers with funds to cover 20% down payment ineligible
- Forgivable 2nd lien expires after 5 years as primary residence
- First lien has 9 year recapture tax
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