Does anyone know where I go to apply for first time home buyer programs for the state of NJ?

Asked by Lani Solano, Hillside, NJ Sat Feb 27, 2010

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12
Anony, , Union, NJ
Sun Jul 8, 2012
do not invest any money with any business claiming they can help you get a low interest mortgage. use the state of nj links.
0 votes
Anony, , Union, NJ
Sun Jul 8, 2012
go online to state of nj. NACA and Tri Cities have programs. Tri Cities office is in East Orange and they are well organized. NACA has workshops and a program, but their communications are poor in terms of asking questions and getting an answer within a reasonable period of time.
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Sat Feb 27, 2010
Lani Hi
If you're interested to learn more about buying your first home, my company is having a first time home buyer's seminar this Wed (March 3) evening in our Livingston office. You are welcome to attend - and it's free!

Our in-house mortgage rep wil be there , and, following the seminar, he can answer any specific questions you have in regard to special programs.

Please reach out to me so I can reserve your place.

Location Prudential NJ Properties - Livingston Office
Time: 7:30PM
When: Wed., March 3

Hope to see you there!

Debbie Rose
email: Debbie.Rose@PridentialNewJersey.com
0 votes
Tim Robbins, Agent, Northfield, NJ
Sat Feb 27, 2010
Here is a link that tell you all about the New Jersey smart Start Program for First Time Home Buyers and also how you can use your tax credit for Downpayment http://www.state.nj.us/dca/hmfa/consu/buyers/ownprg/firsttime.html

Tim Robbins, Sr
Exclusive Buyers Broker

Better Homes Realty
800-610-3599
Web Reference:  http://buyersonestop.com
0 votes
Mary Petti, Agent, Edison, NJ
Sat Feb 27, 2010
Thanks Steve,

I was going to re-revise (is that a word) my previous post to tell Lani if she wants to apply and get approved for these programs AND also take advantage fo the tax credit she needs to do it yesterday since it's taking that long for approvals, and she must have a signed contract by April 30th for the tax credit (only a little over 2 months time)
You also mentioned county grants, which I forgot...that's what a head cold does to you...clouds the brain.
Thanks for the good information !!

Again, Lani, speak to a mortgage person ASAP, and go to this website to read about the Smart Start program:
http://www.state.nj.us/dca/hmfa/consu/buyers/ownprg/smart.html
0 votes
Steve Kappre, , Gloucester County, NJ
Sat Feb 27, 2010
Let me revise a little ...

I am a mortgage banker who writes these types of first time buyer programs ... Smart Start, Tax Prefund, plus county grants I have knowledge of where applicable. You will want to get pre-approved for one of these loans ASAP since they take about 45 days once you are under contract on a home, which leaves you little time to do anything else !!
Web Reference:  http://njmortgageblog.com
0 votes
Steve Kappre, , Gloucester County, NJ
Sat Feb 27, 2010
Lani -

I lend on these programs every week. In fact it is my main focus for my business. You can call me today and I will discuss everything with you. If you want to find out more about me, check out my link below. Also, I have this website just for NJ first time home buyers.

>> http://nj-first-time-home-buyers.activerain.com/

Best wishes
Web Reference:  http://njmortgageblog.com
0 votes
Barbara Smith, Agent, Marlton, NJ
Sat Feb 27, 2010
Lani,

This could mean 2 things. If you have not yet purchased a home, you still have time to qualify for the tax credit if you are under contract by April 30th, and closed by June 30th. There are also mortgage programs that may "lend" you up to $5,000 of the tax credit at closing to help you cover closing costs. You should ask your mortgage professional for the details of that program. There are also Good Neighbor mortgage programs for people in certain professions such as teachers, firefighters, etc.

If you have already purchased, and have not filed your taxes yet, you will need to fill out IRS form 5405. I belive that even if you purchase your home during this calendar year, you can attach the form to your 2009 tax return and receive the credit instead of waiting to file your 2010 return, but again ask you tax professional or go to IRS.gov to find the answers.

Hopefully this answered your question!
Barbara L Smith
Weichert Realtors
cell/text: 609-980-7593
email: BarbSmith321@comcast.net
Web Reference:  http://BarbSellsSJ.com
0 votes
Dorothy Hanna, , Union County, NJ
Sat Feb 27, 2010
The website below will give you information about the different programs..

http://www.state.nj.us/dca/hmfa/consu/buyers/ownprg/smart.html

When you apply for a mortgage, ask which programs you may qualify for.
0 votes
Mary Petti, Agent, Edison, NJ
Sat Feb 27, 2010
Lani,

Sorry,

I just re-read what I typed and I mis-typed the time frame. If you stay under 2 years (not 1) you have to pay back the entire amount.
0 votes
Mary Petti, Agent, Edison, NJ
Sat Feb 27, 2010
Lani,

Go to the following website for information on the NJ State Program called SMart Start. All the paperwork is done by your mortgage lender, but it gives you a good idea if you qualify for the program.

In short, it's a loan to be used towards closing costs, help with down payment or a combination of both. If you stay in the house for 5 years, it's considered paid back. Any length of time between 1 and 5 years, you have to pay back a prorated portion of the money.

http://www.state.nj.us/dca/hmfa/consu/buyers/ownprg/smart.html Click on the "fact sheet" link to see what it's all about.

You can also ask your mortgage broker about it. He/she should have more information for you as well.
0 votes
Tim Robbins, Agent, Northfield, NJ
Sat Feb 27, 2010
Yes there is one place that can help you with any first time buyer programs in New Jersey go to http://bestmortgageplans.com Acre Mortgage can provide you with outstanding service 856-628-2312 ask for Jeff Depalma Tell Him Tim Robbins told you to call
Web Reference:  http://bestmortgageplans.com
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