NJHMFA Police and Firemen's Retirement System (PFRS) Mortgage Program

NJHMFA Police and Firemen's Retirement System (PFRS) Mortgage Program es una primera hipoteca para compradores de vivienda en New Jersey, a cargo de New Jersey Housing and Mortgage Finance Agency (NJHMFA). A special first-mortgage program funded by the Police and Firemen's Retirement System of New Jersey (PFRSNJ) and administered by NJHMFA. It offers active, currently-employed police officers and firefighters who are PFRS members with at least one year of creditable service a below-market fixed-rate mortgage to purchase a one- or two-family residence or condominium in New Jersey. The interest rate is set twice a year (February and August) at the 10-year Treasury bill plus 1%. Loans are originated through NJHMFA-approved participating lenders, for purchase transactions only. Below-market fixed rate (10-year Treasury + 1%, reset Feb and Aug). Funded by the PFRS pension fund for NJ police and firefighters. Purchase of 1-2 family homes and condos in NJ. No first-time homebuyer requirement (25% of funds reserved for first-time buyers). Secondary financing permitted per Fannie Mae guidelines. Los fondos provienen de Police and Firemen's Retirement System of New Jersey (PFRSNJ) pension fund; administered by NJHMFA.

NJHMFA Police and Firemen's Retirement System (PFRS) Mortgage Program es una primera hipoteca y se reembolsa según los términos que fija New Jersey Housing and Mortgage Finance Agency (NJHMFA). El reembolso se activa por Entire loan plus accrued interest due on the 120th day after borrower sells or ceases to occupy as principal residence; mortgage not assumable. La ayuda se registra con un gravamen en posición First. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

NJHMFA Police and Firemen's Retirement System (PFRS) Mortgage Program está abierto a compradores de vivienda que vivirán en la vivienda como su residencia principal. Requisito de residencia: Property in NJ; occupy as principal residence within 120 days of closing. Borrower must be a currently employed police officer or firefighter who is a PFRS member with at least one year of creditable service (N.J.S.A. 43:16A-1 et seq.). Max LTV 85%; max mortgage = Fannie Mae conforming limit (landing page cites $766,550, a 2024 figure that may be stale). Mortgage is NOT assumable; entire balance plus accrued interest is due on the 120th day after the borrower sells or ceases to occupy as principal residence. NJHMFA standard DPA cannot be combined with PFRS. Tax risk: relies on a counsel opinion that loans are not taxable pension distributions. Loan term (30-year) appears on the landing page but not the fact sheet. MI required if down payment under 20%.

NJHMFA Police and Firemen's Retirement System (PFRS) Mortgage Program limita el precio de compra así: No stated max purchase price; max mortgage = Fannie Mae conforming limit (excluding high-balance/jumbo); landing page cites $766,550. Max LTV 85%. Los tipos de propiedad elegibles incluyen Single Family, 2-4 Unit, Condo y Vacant Land for Construction. La construcción nueva es elegible.

NJHMFA Police and Firemen's Retirement System (PFRS) Mortgage Program menciona a agentes del orden público y bomberos entre los grupos a los que atiende. El programa también está limitado a empleados de Currently employed police officer or firefighter who is an active PFRS member with at least one year of creditable service. Aparecer aquí significa que el programa menciona al grupo, no que pertenecer a él baste por sí solo para que un solicitante califique; las demás reglas de elegibilidad siguen aplicándose.

NJHMFA Police and Firemen's Retirement System (PFRS) Mortgage Program atiende a compradores de vivienda que compran en cualquier lugar de New Jersey.

Las solicitudes de NJHMFA Police and Firemen's Retirement System (PFRS) Mortgage Program se tramitan a través de New Jersey Housing and Mortgage Finance Agency (NJHMFA), que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Originated/reserved through NJHMFA-approved participating lenders. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.