New Jersey is still offering first time home buyers help through the Smart Start program. The program offers a grant for 4% of the sale price which can be used towards down-payment or closing costs. The grant is not repaid until the buyer sells the property. If the buyer stays in the home for seven years, the grant is forgiven. The progarm is restricted in that you must buy in a Smart Growth area.
There is also a program to help people buy a home where they work. The buyer can get a grant for 5% of the mortgage amount. There are many municipalities which participate in this program including Morristown, Trenton and Woodbridge. Again, the grant is forgiven if the buyer stays in the home for seven years.
Please contact me for mor information on these programs. I can help you find a home in New Jersey, especially in Hunterdon, Warren, Morris and Somerset counties.
Have a great day.
Bonnie DeCarolis
908-313-5052
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