New Jersey First-Time Home Buyer Loans (NJHMFA)


Buying your first home or know someone who is in the market? PMA now offers first-time buyers in New Jersey special mortgage programs offered through the New Jersey Housing  and Mortgage Finance Agency (NJHMFA)!

NJHMFA loans can make it easier for you to qualify with NJHMFA’s statewide Down Payment Assistance Program that provides $10,000 for qualified first-time home buyers to use for down payment and closing costs in the form of an interest-free, five-year forgivable second loan with no monthly payment!


NJHMFA Program Features:

  • For first-time home buyers and repeat buyers in targeted urban areas.

  • $10,000 no interest/no payment forgivable 2nd mortgage available 

  • Fixed rate FHA, VA or USDA Rural Housing mortgages with 0 points.

  • Purchase price and income limits apply.


The interest rate on the NJHMFA DPA program second mortgage is 0%. If the Borrower continuously resides in the premises as his/her principal residence for five years from the loan closing date, the DPA second mortgage will have been deemed satisfied. Buyer must meet program guidelines. Income and purchase price limits apply. Contact for full program details.