AtlantiCare Down Payment Assistance Program

What is AtlantiCare Down Payment Assistance Program?

AtlantiCare Down Payment Assistance Program is a forgivable loan for homebuyers in Atlantic City, New Jersey.

• The AtlantiCare Down Payment Assistance (DPA) Program is a partnership between AtlantiCare (a southern New Jersey healthcare system) and the Address Yourself(TM) homeownership program operated by New Jersey Community Capital. It provides grants up to $10,000 to AtlantiCare employees seeking to become first-time homeowners in Atlantic City. The standard grant is $5,000 anywhere in Atlantic City, with an enhanced $10,000 grant available in five place-based target neighborhoods (Chelsea, Ducktown, Bungalow Park, Venice Park, Midtown). The grant is structured as a 5-year forgivable second mortgage; the borrower must remain in the home for 5 years for full forgiveness. Funding is allocated annually and may pause when fully committed.
• Provides grants of $5,000 (for any home purchased in Atlantic City) or $10,000 (for homes purchased in select Atlantic City neighborhoods - Chelsea, Ducktown, Bungalow Park, Venice Park, and Midtown) to AtlantiCare healthcare-system employees who are first-time homebuyers. Grants have a 5-year forgivability term: 100% forgiven if the borrower remains in the home for 5 years.
• full balance repayable on sale or refinance of the first mortgage before the 5-year mark.
• Funding comes from Employer and Nonprofit.

Do you have to pay it back?

AtlantiCare Down Payment Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale of the property or refinance of the first mortgage prior to the 5-year forgiveness period and full unforgiven balance is due. Loan is fully forgiven on the 5th anniversary of closing.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

AtlantiCare Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

AtlantiCare Down Payment Assistance Program limits household income to 120% of the area median income, which varies by county and household size.

• Up to 120% of HUD Area Median Income for Atlantic County, adjusted for household size. 2025 Atlantic County 100% AMI 4-person ~ $98,100; 120% AMI ~ $117,700 (4-person). Range across household sizes 1-8 approximately $62,400 - $117,700 (for 4-person). See HUD AMI tables.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

AtlantiCare Down Payment Assistance Program caps the purchase price as follows: No published maximum purchase price; subject to first-mortgage product limits and the borrower's ability to repay.

• Eligible property types include 1-4 family residential property occupied as primary residence.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

AtlantiCare Down Payment Assistance Program names healthcare workers among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

AtlantiCare Down Payment Assistance Program serves buyers purchasing in Atlantic City, New Jersey.

• The program targets specific areas: Enhanced $10,000 grant available only for properties in Atlantic City's Chelsea, Ducktown, Bungalow Park, Venice Park, and Midtown neighborhoods (place-based targeting). AtlantiCare itself serves multiple southern NJ counties (Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, Salem) but the DPA assistance is restricted to home purchases located in Atlantic City.

How do you apply?

Applications for AtlantiCare Down Payment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through NJCC- and HUD-approved housing counseling agencies; pre-purchase counseling certificate (within 1 year) required.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Reserved through Address Yourself / NJCC application process once borrower is enrolled, preapproved, and under contract, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.