Applications open for Jersey City’s first time homebuyers for low- and moderate-income families


| Photo via Jersey City Division of Community Development

JERSEY CITY, NJ – First-time homebuyers in Jersey City may have the opportunity to own their home under a program offered by the Fulop administration. The Golden Neighborhood Homeownership Program (GHHP) assists low- to moderate-income residents looking to buy a home within Jersey City with down payment assistance and a closing cost of up to $150,000.

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

According to the Division of Community Development (DCD), the preliminary application period is open from September 1 through November 1. Jersey City residents who qualify after their preliminary screening will be entered into a lottery selection process. Qualified lottery winners must also complete pre-and post-mortgage counseling by a HUD-certified provider.
The DHD said that families who may not qualify for this program would be offered financial coaching.

Pre-application for the first-time homeowner’s program will be accepted online.

“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,” said Deja Anderson, Director of the Division of Community Development.

DCD said this subsidy is considered a grant, not a loan. It becomes a loan if the buyer moves, sells the property before the end of the required affordability period, or defaults on the mortgage. There are no interest charges or payments for the life of the grant. The homebuyer must repay a portion of the grant based on a recapture schedule.

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 they can use with DCD’s grant. The event will be held on October 5, 2022, from 3 p.m. to 8 p.m. at 4 Jackson Square, inside the Holloway Board Room.

Interested residents may visit Jersey City’s Community Development website for a list of qualifications and complete details.

-With Jay Domingo/PDM

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