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. Funding comes from HUD HOME Investment Partnerships Program.

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.

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.

Essex County Homebuyer Assistance Program (HAP) is open to homebuyers who will live in the home as their primary residence. Residency requirement: Property in one of 19 Essex County HOME Consortium municipalities: Belleville, Bloomfield, Caldwell, Cedar Grove, Essex Fells, Fairfield, Glen Ridge, Livingston, Maplewood, Millburn, Montclair, North Caldwell, Nutley, Orange, Roseland, South Orange, Verona, West Caldwell, West Orange.

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.

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.

Essex County Homebuyer Assistance Program (HAP) serves homebuyers purchasing in Essex County, New Jersey.

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. 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.