Quick answer. NJHMFA's Down Payment Assistance Program gives first-time buyers up to $15,000 in 12 northern and central counties and $10,000 in 9 southern ones, as a five-year forgivable loan paired with an NJHMFA mortgage, and its First Generation program adds $7,000. A lender must give you a Loan Estimate within three business days of an application, which needs only six pieces of information, and you must receive the Closing Disclosure at least three business days before closing. In New Jersey the seller pays the realty transfer fee, and since July 10, 2025 the seller also pays the fee on sales over $1 million.
Two quick lookups
Pick a county and enter your contract dates.
The state programs, as NJHMFA describes them
The New Jersey Housing and Mortgage Finance Agency lists these homebuyer programs, all reached through a participating lender (NJHMFA):
- Down Payment Assistance Program: up to $15,000 depending on county, toward the down payment and closing costs, as an interest-free, five-year forgivable second loan with no monthly payment. It is for first-time homebuyers buying a primary residence and is paired with an NJHMFA first mortgage.
- First Generation Down Payment Assistance Program: $7,000 more on top of the DPA, bringing assistance to $17,000 to $22,000, for first-time buyers who are also first-generation buyers as the agency defines it.
- First-Time Homebuyer Mortgage Program: a 30-year fixed-rate government-insured loan (FHA, VA or USDA) that can be combined with the DPA.
- HFA Advantage Mortgage Program: a 30-year fixed-rate conventional loan; the fact sheet asks for a FICO score of 620 or more, and waives the first-time buyer requirement when you don't use the DPA (fact sheet).
- Homeward Bound Program: a 30-year fixed-rate government-insured loan that can be combined with the DPA.
The First-Time Homebuyer fact sheet defines a first-time buyer as someone who hasn't had an ownership interest in their primary residence in the previous three years. The DPA is $15,000 in Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset and Union counties and $10,000 in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Salem, Sussex and Warren. It is forgiven if you live in the home as your principal residence for five years from closing and don't refinance or otherwise convey the first mortgage, and it can be used only once. Income limits are set by county and household size as a percent of area median income, are higher in Urban Target Areas, and come with purchase price limits (fact sheet, June 17, 2026). When we checked in November 2026 the agency's page showed no closed, paused or out-of-funds notice for any of these programs; ask a participating lender on the day you apply, or call 1-800-NJ-HOUSE.
Getting a Loan Estimate: less paperwork than you'd think
The CFPB says six pieces of information make a mortgage application for Loan Estimate purposes: your name, your income, your Social Security number (so the lender can pull credit), the property address, an estimate of its value and the loan amount you want. A lender can't require more before giving you a Loan Estimate, such as a purchase agreement or income documents (CFPB). Once it has your application, the lender must provide the three-page Loan Estimate within three business days (CFPB). Getting estimates from two or three lenders, including a participating NJHMFA lender if you want a state program, is how you compare rates and fees on the same form.
The full document folder comes after you pick a lender: pay stubs, tax returns, bank statements, an explanation of any large deposit, and a gift letter if family is helping. Our notary guide on gift letters for a down payment covers that one.
From signed contract to closing
The contract sets the dates that matter: when the attorney review ends, when the inspection must be done and answered, when the mortgage commitment is due, and the closing date. Put each one on a calendar the day you sign; the lookup above adds the days for you. Your attorney confirms every deadline, including how attorney review is counted.
The Closing Disclosure and the costs on it
The Closing Disclosure is a five-page form with the final details of your loan, and the lender must give it to you at least three business days before you close (CFPB). Put it next to your Loan Estimate and check the loan amount, rate, monthly payment, closing costs and cash to close line by line. The CFPB lists the common closing charges as appraisal fees, tax service provider fees, title insurance, government taxes, and prepaid property taxes, homeowners insurance and interest until your first payment (CFPB). The closing costs guide and the free mortgage payment and down payment calculators help with the numbers.
Who pays New Jersey's transfer fees
The Division of Taxation states that the realty transfer fee is imposed on the seller, and that "the seller is statutorily responsible for the RTF and the Graduated Percent Fee," the fee on sales over $1 million often called the mansion tax (Division of Taxation). Under P.L. 2025, c. 69, that graduated fee moved from the buyer (grantee) to the seller (grantor) for deeds submitted for recording on or after July 10, 2025, at 1% above $1 million rising in steps to 3.5% above $3.5 million (notice). So a first-time buyer in New Jersey doesn't pay either fee; the buyer's own costs are the lender, title and prepaid items on the Closing Disclosure.
Closing day
Confirm wiring instructions by phone with a number you already have, bring photo ID, and read before you sign. The step-by-step is in our closing day checklist for home buyers.
Sources
- NJHMFA: homebuyer programs (revised Oct. 5, 2026)
- NJHMFA: First-Time Homebuyer Mortgage Program with Down Payment Assistance fact sheet (June 17, 2026)
- NJHMFA: HFA Advantage Mortgage Program fact sheet (June 17, 2026)
- CFPB: What is a Loan Estimate? (reviewed Aug. 9, 2024)
- CFPB: What information do I have to provide a lender to receive a Loan Estimate? (reviewed Apr. 3, 2024)
- CFPB: What is a Closing Disclosure? (reviewed May 2, 2023)
- CFPB: What fees or charges are paid when closing on a mortgage and who pays them? (reviewed Sept. 11, 2024)
- NJ Division of Taxation: Realty Transfer Fee (updated Sept. 28, 2026)
- NJ Division of Taxation: Graduated Percent Fee notice, P.L. 2025, c. 69 (July 2, 2025)
All sources opened and checked November 2026.
An organizer, not advice. General information checked November 2026 against the official sources listed. It is not tax, legal or financial advice and it does not decide what you qualify for; lenders, NJHMFA and your attorney decide. The tool runs in your browser and nothing you enter is sent or saved. MCC Solutions is not affiliated with any agency named here.
Common questions
How much down payment assistance does New Jersey offer first-time buyers?
NJHMFA's DPA is up to $15,000 in 12 counties and $10,000 in 9 others, as an interest-free loan forgiven after five years in the home. The First Generation program adds $7,000 for eligible buyers.
Is NJHMFA down payment assistance still available?
When we checked the agency's homebuyer page in November 2026 it showed no closed or out-of-funds notice. Ask a participating lender or call 1-800-NJ-HOUSE when you apply.
Does the buyer pay the mansion tax in New Jersey?
No, for deeds recorded on or after July 10, 2025. The Division of Taxation says the seller is responsible for both the realty transfer fee and the graduated percent fee on sales over $1 million.
What does a lender need to give me a Loan Estimate?
Six pieces of information: your name, income, Social Security number, the property address, its estimated value and the loan amount. The CFPB says a lender can't require more before giving you one.
When should I get my Closing Disclosure?
At least three business days before closing. Compare it with your Loan Estimate line by line.
Related free pages: First-time home buyer in New Jersey · Closing day checklist · Closing costs to plan for · Mortgage payment calculator · Home Buying Cost and Affordability Planner (the math: payment, closing costs, cash to close)