NJCC Statewide Down Payment Assistance Program

What is NJCC Statewide Down Payment Assistance Program?

NJCC Statewide Down Payment Assistance Program is a forgivable loan for homebuyers in Statewide, New Jersey.

• The NJCC Statewide Down Payment Assistance Program is the flagship statewide DPA grant operated by NJCC's Address Yourself(TM) program. Available to income-eligible first-time buyers purchasing a 1-4 family primary residence anywhere in New Jersey, the program provides $5,000 - $30,000 in DPA depending on need. Buyers must earn less than 100% of the HUD area median income for their county and household size, and the maximum purchase price is $625,000. Funded in partnership with a variety of lenders and funders. Structured as a 5-year forgivable second mortgage at 0% interest.
• Provides $5,000 - $30,000 in down payment and closing cost assistance grants to income-eligible first-time buyers purchasing a primary residence anywhere in New Jersey, depending on need. Forgivable over 5 years (20% per year), 0% interest, no monthly payment.
• Funding comes from Nonprofit, CDFI, Bank, and Foundation.

Do you have to pay it back?

NJCC Statewide 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, refinance (without subordination), or property no longer used as primary residence prior to 5-year forgiveness and balance forgiven 20% per year.
• 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?

NJCC Statewide 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?

NJCC Statewide Down Payment Assistance Program limits household income to 100% of the area median income, which varies by county and household size.

• Up to 100% of HUD Area Median Income (AMI) by county and household size. Statewide range across all counties and household sizes (2025 HUD): low end ~ $59,500 (1-person, lowest county) up to ~ $188,700 (8-person, highest county). Income limits increase with household size; see the NJCC NJ 100% AMI table.
• 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?

NJCC Statewide Down Payment Assistance Program caps the purchase price at $625,000.

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

Where does it apply?

NJCC Statewide Down Payment Assistance Program serves buyers purchasing in Statewide, New Jersey.

How do you apply?

Applications for NJCC Statewide 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 online application process once borrower is enrolled, preapproved, and under contract; funds disbursed to settlement agent at closing, 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.