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Burlington County First Time Homebuyer Program

Burlington County, New Jersey

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Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 10 years

What is Burlington County First Time Homebuyer Program?

Burlington County First Time Homebuyer Program is a forgivable loan for homebuyers in Burlington County, New Jersey.

  • HOME-funded forgivable second mortgage of up to $20,000 for first-time homebuyers in Burlington County, NJ. 80% AMI cap. 10-year forgiveness when amount exceeds $15,000. Pairs with any FHA/VA/USDA/conventional first mortgage.
  • Up to $20,000 (sometimes $25,000 in special targeting cycles) in down payment and closing cost assistance for first-time homebuyers purchasing in Burlington County, NJ. Funded through HUD HOME Investment Partnerships Program. Structured as a 0% interest, deferred-payment, forgivable second mortgage. Forgiveness term tied to HOME affordability period: 5 years for amounts under $15,000.
  • 10 years for amounts $15,000-$40,000. After the affordability period, the lien is fully forgiven. 80% AMI household income limit per HUD Camden HMFA. Pairs with FHA, VA, USDA, and conventional first mortgages. HUD-certified homebuyer education required.
  • Funding comes from Federal HOME.

Do you have to pay it back?

Burlington County First Time Homebuyer Program is forgiven after 10 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Deferred forgivable. Forgiven at end of HOME affordability period (5-yr if under $15K, 10-yr if $15-40K). If property sold, transferred, refinanced (cash-out), or no longer owner-occupied during the affordability period, prorated balance becomes due.
  • The assistance is recorded in 2 position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Burlington County First Time Homebuyer Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: HUD displaced-homemaker / single-parent / 3-year-rule exceptions per 24 CFR 92.2.
  • The home is occupied as a primary residence
  • On credit: No published Burlington County minimum; first-mortgage lender overlays apply (typically 620+).
  • A completed homebuyer education course, through HUD-approved housing counseling agencies (e.g., Tri-County Community Action Partnership, NeighborWorks affiliates serving South Jersey).
  • Residency: Property must be located in Burlington County, NJ and serve as primary residence.
  • Citizenship or immigration status: U.S. citizen or eligible non-citizen per HOME rules.
  • First-time homebuyer (no primary residence ownership in past 3 years; HUD displaced-homemaker / single-parent exceptions). 80% AMI household income cap (Camden HMFA). Property must be in Burlington County. Owner-occupied primary residence. Buyer must contribute at least $1,000 of own funds. Pre-purchase HUD-approved homebuyer counseling certificate required. HUD Housing Quality Standards (HQS) inspection required. Lead-based paint clearance for pre-1978 properties.

The program excludes

  • Manufactured homes
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Burlington County First Time Homebuyer Program limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% Area Median Income (AMI) for Camden-Cherry Hill HMFA per HUD. Approximate 2025 80% AMI: $52,950 (1-person) to $99,800 (8-person).
  • 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?

Burlington County First Time Homebuyer Program caps the purchase price as follows: Property purchase price may not exceed 95% of area median purchase price per HOME program (24 CFR 92.254). Verify current limit with Burlington County CD.

  • Eligible property types include Single-family detached, Townhome, Condominium, and 2-4 unit owner-occupied.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Burlington County First Time Homebuyer Program serves buyers purchasing in Burlington County, New Jersey.

How do you apply?

Applications for Burlington County First Time Homebuyer Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved housing counseling agencies (e.g., Tri-County Community Action Partnership, NeighborWorks affiliates serving South Jersey)..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Application directly to Burlington County Office of Community Development. First-come, first-served subject to HOME funding cycle availability., and are subject to availability.

  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.

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