Jersey City announces new program for low- and moderate-income first time homebuyers


The City of Jersey City has announced a new program for low- and moderate-income first time homebuyers with down payment assistance and closing cost up to $150,000.

Photo via PinInterest.

By John Heinis/Hudson County View

“This is a great opportunity to get the community engaged and educated about homeownership in our City,” Mayor Steven Fulop said in a statement.

“Our goal is to create and preserve affordable housing while also helping residents achieve homeownership where they may not otherwise be able to afford their own family home.  This program can help them achieve those goals.”

The preliminary application period is open from September 1st through November 1st, meaning applications will go live tomorrow. Those Jersey City residents who qualify after their preliminary screening will be entered into a lottery selection process.

“We are excited to bring additional support to make homeownership a reality for Jersey City residents. We want to keep communities intact while creating opportunities for generational wealth building,” added Division of Community Development Director Deja Anderson.

A list of qualifications and other details can be found on Jersey City’s Community Development website.

The GNHP subsidy is considered a grant, not a loan.  There are no interest charges or payments for the life of the grant. It becomes a loan if the buyer moves, sells the property prior to the end of the required affordability period, or defaults on the mortgage.

Additionally, the homebuyer is required to repay a portion of the grant based upon a recapture schedule.

The Division of Community Development will also offer financial coaching to any families who may not qualify for this specific assistance program.

Furthermore, DCD will host a mortgage fair with local and national banks to provide additional support/information on their own in-house first-time homebuyer programs, which can be used in combination with our grant.

The event will be held on October 5th, from 3 p.m. until 8 p.m. at 4 Jackson Square, inside the Holloway Board Room.

To ensure success and further stability, qualified lottery winners will also need to complete pre-and post-mortgage counseling by a HUD-certified provider.

For more information about the application process, please contact the Division of Community Development by phone at 201-547-6910 or at

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