NJ First-Time Home Buyers


NJ Mortgage Finance Agency Rate Update - Smart Start for First Time Home Buyers

NJ Mortgage Finance Agency Rate Update - Smart Start Options for First Time Home Buyers


First Time Home Buyer 30 Year Term

5.750% - First Mortgage with no Smart Start assistance

6.125% - First Mortgage with 2% Smart Start assistance

6.250% - First Mortgage with 3% Smart Start assistance

6.500% - First Mortgage with 4% Smart Start assistance

The 40 year team requires an additional add-on of .125%


Tax Credit Loan Program - The "Prefund" Program

This program allows up to $5,000 of the first time home buying tax credit (up to $8,000) to be used for the purchase of a home. This money can be used for the downpayment and/or closing costs. This program follows the first time buyer rate option with zero (0) assistance (5.750% currently). For more info check out Tax Credit Loan Program: The "Prefund" Program.


Other Helpful First Time Buyer Links

Understanding and Using All of Your First Time Home Buyer Options

Understanding Seller Concessions | Seller Paid Closing Costs | Seller Contributions | Seller Assist

Financing and Mortgages with a Credit Score Below 620

Why I'm Stressing Over Someone Else's Credit

First Time Buyer Options in South Jersey


Comment balloon 0 commentsStephen Kappre • August 04 2009 08:40PM


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