I agree with Laura's answer below. You will want to contact a rep from NJHMFA.
But as a loan officer who has originated these loans since 1997, I know NJHMFA underwriters will look at your last 3 years of tax returns. If you have deducted mortgage interest or proprty taxes, you are not considered a first time homebuyer.
I would take it one step further though and discuss other financing options with you. Currently, NJHMFA rate is 4.25%. If you were to take the 4% of the loan amount smart start grant, your interest rate will be 5% for the life of the loan! Right now if you can come up with the 3.5% down payment from your retirement funds, gift from a family member, or gift from an employer, you could qualify for a market rate of approximately 3.75%! And the seller can pay up to 6% towards your closing costs. Not sure if you qualify for the LWYW program which keeps the 4.25% rate.
Joseph S. Cordova NMLS# 146855
Lincoln Mortgage Company
8003 Lincoln Drive West, Suite F
Marlton, NJ 08053
office: (856) 810-1200 ext. 242
direct fax: (206) 333-0946
cell: (856) 304-2381... more