Bernards Township Down Payment and Closing Cost Assistance Grant

Bernards Township Down Payment and Closing Cost Assistance Grant is a grant for homebuyers in Bernards Township, New Jersey, administered by Central Jersey Housing Resource Center (CJHRC) on behalf of Bernards Township. Municipal down payment and/or closing cost assistance grant for buyers purchasing a deed-restricted affordable housing unit in Bernards Township, Somerset County. Administered by CJHRC, a HUD-approved 501(c)(3) housing counseling agency. Down payment and/or closing cost grant for an affordable unit in Bernards Township. Funding comes from Bernards Township (municipal affordable housing funds).

Bernards Township Down Payment and Closing Cost Assistance Grant is structured as a grant, so it is not repaid. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Bernards Township Down Payment and Closing Cost Assistance Grant is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through CJHRC homebuyer education certificate required before/within 14 business days of signing a Contract of Sale. Residency requirement: Affordable unit in Bernards Township; must be applicant's primary residence.

Bernards Township Down Payment and Closing Cost Assistance Grant limits household income to 80% of the area median income, which varies by county and household size. Tied to the deed-restricted affordable housing program (households <80% AMI); confirm exact income limits for the specific unit with CJHRC. The limit applies to total household income, not only the borrower&rsquo;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.

Bernards Township Down Payment and Closing Cost Assistance Grant caps the purchase price as follows: Home must be a deed-restricted affordable unit in Bernards Township. Eligible property types include Single Family and Condo. New construction is eligible.

Bernards Township Down Payment and Closing Cost Assistance Grant serves homebuyers purchasing in Bernards Township, New Jersey. The program targets specific areas: Limited to deed-restricted affordable housing units within Bernards Township.

Applications for Bernards Township Down Payment and Closing Cost Assistance Grant go through Central Jersey Housing Resource Center (CJHRC) on behalf of Bernards Township, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.