NJ Conventional DPA Program

NJ Conventional Down Payment Assistance Program

Affordable mortgages with $10,000 for down payment and closing costs.

The state of NJ is finally offering a conventional version of their down payment assistance program for first time buyers. Now, qualified clients can receive $10,000 to be used towards down payment and closing with affordable mortgage insurance premiums that follows conventional mortgage guidelines. 


  • 30-year, Fixed-Rate Conventional Loan 
  • Affordable Mortgage Insurance Premiums
  • $10,000 for Down Payment and Closing Costs



  • First-time buyers are borrowers that have not had an ownership interest in their primary residence during the previous three years
  • DPA is a $10,000 forgivable loan with no interest and no monthly payments. Forgiven after 5 years as primary residence (While grant funds are available)
  • Single-Family Properties and Condos, Owner Occupied, Primary Residence in NJ, Minimum FICO 620
  • Income limits are determined by the county of the purchase property, but must not exceed 80% of Area Median Income. Please reference the Freddie Mac HFA Income Limits for additional details

Eligibility requirements, exclusions and other terms and conditions apply.

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