What is the Live Where You Work Program?
Live Where You Work (LWYW) is a special homebuyer incentive program for people who want to buy a home in the (New Jersey) town where they work. It is a fair, reliable, fixed rate mortgage loan for first-time and urban homebuyers.
The goal of LWYW is to build stronger communities by promoting homeownership and encouraging people to live closer to their jobs. This, in turn, will reduce the need for cars and increase the use of alternative transportation such as walking, biking and public transit.
If you would like to buy a house in the town where you currently work, then LWYW might be right for you. Employees benefit from attractive mortgage rates, more flexible loan application review and underwriting criteria, and reduced commuting times to work. Municipalities benefit from having a committed workforce living nearby, and the activity and economic vibrancy that comes with people living near where they work.