The Hudson County Economic Development Corporation, in a joint effort with a local non-profit and financial institution, is now offering a $15,000 grant for veterans seeking to purchase a home.
“Today is just one of many instances where this county has demonstrated its commitment to affordable housing and, specifically, to housing for our veterans,” HCEDC Executive Director Michelle Richardson said during a press conference yesterday.
“The veterans housing thing has been a component of trying to provide affordable housing, and at the same time, helping our veterans who we owe so much. This is the perfect mix for that, this is something we can be very proud of,” added County Executive Tom DeGise.
The program became possible after the HCEDC awarded a $200,000 grant to New Jersey Community Capital, a community development financial institution headquartered in New Brunswick.
Other participating lenders include the Affinity Federal Credit Union, the Greater Alliance Federal Credit Union, among others, while also partnering with the Garden State Episcopal Community Development Corporation.
NJCC President and CEO Wayne Meyer called down payment assistance of up to $15,000 “really substantial,” noting that veteran homeowners will be able to take out a less expensive mortgage.
Cheryl Turner, a veteran group representative, called the program “amazing.”
“We gave up a lot to come home and try to re-establish ourselves and everything else and the best thing about home means you have a place to stay: that we’ll be able to stay in now and forever and really, truly feel like we’re part of the community again.”