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City of Newark American Dream Downpayment Initiative Program
This program dollars will fund upfron costs of a participant acquiring a principal residence, but not the entire cost of acquisition. ADDI dollars can also fund the reasonable and necessary costs incurred by the homebuyer, locality or lender associated with the purchase. The amount of the ADDI assistance will not exceed $10,000 or six percent of the purchase price of the home, whihcever is greater.
Families with income below 80% of the median income for Essex County
Must be a First Time Homebuyer
Home must be located in th City of Newark
NO CASH BACK IS ALLOWED INCLUDING EARNEST MONEY!