Home buying
Buying your first home in New Jersey
State help with the down payment, a three-day attorney review, and two federal deadlines that protect you. Here's how a New Jersey purchase actually runs, with the current numbers.
State help with the down payment
New Jersey's housing finance agency (NJHMFA) offers first-time buyer mortgages and down payment assistance through participating lenders. (NJHMFA)
| Program | What it gives |
|---|---|
| Down Payment Assistance | Up to $15,000 in Union, Essex, Middlesex, Bergen, Hudson and other northern and central counties; up to $10,000 in southern counties. A 0% second loan, forgiven after 5 years if you keep living there. (fact sheet) |
| First Generation Homebuyer | $7,000 more on top, for buyers whose parents don't own a home. Needs a notarized First-Generation Borrower's Affidavit. (fact sheet) |
Generally for buyers who haven't owned a primary home in the past 3 years, with income and price limits by county, a 620 credit score minimum and homebuyer education. Apply through a participating lender, or call 1-800-NJ-HOUSE.
How the purchase runs
Apply for the loan
The lender must give you a Loan Estimate within 3 business days of your application. Compare estimates from more than one lender. (CFPB)
Sign the contract, then attorney review
When an agent prepares the contract, either side's attorney has 3 business days to review it and cancel or propose changes. (N.J.A.C. 11:5-6.2)
Inspection, appraisal, title
Your lender orders the appraisal; you choose the inspector. A title company or attorney checks the title.
The Closing Disclosure
You must receive it at least 3 business days before closing. Compare it line by line with your Loan Estimate. (CFPB)
Closing day
Attorneys or title companies run closings in New Jersey. Bring photo ID and the exact funds by wire or certified check, and confirm wiring instructions by phone with a number you already know: wire fraud targets closings. Closing day checklist
Who pays the transfer fees
The seller pays New Jersey's realty transfer fee. Since July 10, 2025, the seller also pays the graduated fee on homes over $1 million, which used to be the buyer's. (NJ Treasury) Buyers still pay their own closing costs: appraisal, title insurance, recording, and prepaid taxes, insurance and interest. (CFPB)
Can't make the closing in person?
If you're out of town, your lender or title company may allow a mail-away signing with a notary near you, or a remote online closing. Mail-away signings · Loan signing agent · Book a notary
Printable kit
Home Buying Cost and Affordability Planner
An Excel planner for the full cost of buying: down payment, closing costs, monthly payment, taxes and the cash you need at closing.
General information, checked November 2026. Not legal advice. MCC Solutions is not a law firm.
Questions
How much down payment help can I get in New Jersey?
NJHMFA's program gives up to $15,000 in northern and central counties and $10,000 in southern ones, plus $7,000 more for first-generation buyers. It's forgiven after 5 years if you keep the home as your residence.
Who counts as a first-time buyer?
For NJHMFA, someone who hasn't owned a primary residence in the past 3 years, with exceptions for some urban areas and veterans.
Does the buyer pay the mansion tax in New Jersey?
Not anymore. Since July 10, 2025, the seller pays the graduated fee on homes over $1 million.
What is attorney review?
When a real estate agent prepares the contract, each side's attorney has 3 business days to review it. Either can cancel or propose changes in that time.