NJ Housing Mortgage Finance Agency Offers Cash Advance for 
First-time Buyer Costs
THIS IS GREAT NEWS
The NJ Housing Mortgage Finance Agency is offering a $5,000 cash advance to qualified first time home buyers. These payments are intended to defray closing costs or take care of a portion of the down payment requirements. The loan, offered as part of NJHMFA's "Prefund" program. The loan will act as a cash advance against the &8,000 tax credit being offered to first time home buyers who purchase between 8 April - 31 December 2009.
"This is a powerful incentive that will allow potential first time home buyers to actually enter the market because this cash advance will help them meet down payment requirements or pay for closing costs that might otherwise be an obstacle to a first-time buyer," said Jarrod C. Grasso, RCE, executive vice president of NJAR®.
- The cash advance is available to first-time home buyers who:
Arrange their financing through the NJHMFA. (Obtain a list of participating lenders by calling (800) NJ HOUSE) - Are qualified for the tax credit offered as a part of the federal stimulus program
- Pledge to apply the proceeds of their tax credit to repay the cash
Full details of the the progam are available HERE.
Once you apply for the program, I can work with you to help you find your dream NJ Home. If you have any questions, feel free to contact me.
Have A Great Day and
Make This YOUR Best Year Ever
Leander McClain, Burlington Township Realtor & Real Estate Consultant, Keller Williams Realty, 1814 Route 70 E, Suite 200, Cherry Hill, NJ 08003, 856-321-1212 Bus., 856-685-1677 Direct
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Hi Leander
New Jersey's first time home buyers program should really help sales. Now is the time to buy in New Jersey.
Good luck and success
Lou Ludwig
WOW that's a great plan. Georgia is waiting on the governor to sign a bill that would mean a tax credit for all home buyers but the amount is just $1800.