Essex County Homebuyer Assistance Program (HAP)

What is Essex County Homebuyer Assistance Program (HAP)?

Essex County Homebuyer Assistance Program (HAP) is a deferred second loan for homebuyers in Essex County, New Jersey, administered by Essex County Division of Housing & Community Development.

• The Essex County Homebuyer Assistance Program (HAP) provides a no-interest deferred-payment loan of up to $50,000 to low-income households purchasing a home in one of the 19 municipalities of the Essex County HOME Consortium. Funds may be used for down payment, closing costs, or a mortgage write-down. The loan is secured by a 15-year lien released once program terms are fulfilled, and is funded through HUD's HOME Investment Partnerships Program.
• Up to $50,000 in assistance.
• No-interest deferred-payment loan.
• Usable for down payment, closing costs, or mortgage write-down.
• Lien released after 15-year affordability period.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD HOME Investment Partnerships Program.

How much assistance does it provide?

Essex County Homebuyer Assistance Program (HAP) offers up to $50,000 in assistance.

• Amounts are the program's published maximums, not an offer — Essex County Division of Housing & Community Development determines any individual award.

Do you have to pay it back?

Essex County Homebuyer Assistance Program (HAP) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Deferred-payment loan secured by a 15-year lien; balance due if program terms are violated during the affordability period.
• The assistance is recorded in Subordinate position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Essex County Homebuyer Assistance Program (HAP) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Essex County Homebuyer Assistance Program (HAP) sets its income limit as follows: Limited to low-income households; HUD income limits by household size determined by the Division of Housing & Community Development. Exact dollar limits not published in the brochure.

• 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?

Essex County Homebuyer Assistance Program (HAP) caps the purchase price at $479,000.

• Eligible property types include Single Family, 2-4 Unit, Condo, and Townhouse.
• New construction is not eligible.
• Manufactured homes are not eligible.

Where does it apply?

Essex County Homebuyer Assistance Program (HAP) is a federal program, so it is not limited to New Jersey.

How do you apply?

Applications for Essex County Homebuyer Assistance Program (HAP) go through Essex County Division of Housing & Community Development, which publishes the current terms and the application steps on its own site.

1. 1

   Contact Essex County Division of Housing & Community Development to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   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.