NJ First-Time Home Buyers


NJ First Time Home Buyer Tax Credit Pre-Fund Program - One under the belt!

NJ First Time Home Buyer Tax Credit Pre-Fund Program -> One Under the Belt!

Want to use your first time home buyer tax credit NOW to purchase a home?

FlowersIt is possible!! Steve Kappre at Treasury Mortgage had the first "Tax Prefund Mortgage Program"settle last Monday. It was a seemless transaction where the buyers utilized $5,000 of the (up to) $8,000 tax credit the government is currently offered to first time home buyers who close before December 1st of 2009.

Here is how it works.

When you apply for your mortgage as a first time home buyer let your lender know that you would like to utilize a portion of the tax credit NOW to purchase your first home. If the lender says it isn't possible than RUN THE OTHER WAY!! What they may really be saying is either they don't offer the program, or there is a good chance they don't even know the option exists. Certainly not all mortgage lenders are made the same, nor have access to the same programs.

When your loan is approved it is approved with the designation of the"Prefund" program.  You can use this $5,000 towards either your down payment or your closing costs (or both). The first time home buyer prefund program can be used under the umbrella of Conventional, FHA, VA, or USDA (100%) guidelines.

This variety of options truly gives the first time home buyer a great wealth of options.

There are times when one option will allow an approval where another option will not. Your loan officer/mortgage lender should be able to advise you of what direction to take and why that direction is in your best interest. The interest rates for such programs are right in line with other conventional, FHA, VA, or USDA rates.

There really isn't a better time to consider buying a home.  Take the time to educate yourself and put all the cards on the table. Below is a few other articles that may help you better understand first time home buyer options.


  • Understanding and Using All of Your First Time Home Buyer Options
  • Understanding Seller Concessions | Seller Paid Closing Costs | Seller Contributions | Seller Assist
  • Tax Credit Loan Program: The "Prefund" Program
  • NJ First Time Home Buyer Grant Program
  • 100% Financing in Gloucester County, NJ


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    Steve Kappre is a Mortgage Planner with Treasury Mortgage. Steve specializes in;

    • All areas concerning First-Time Home Buyer Mortgages, grants, down payment assistance, police and fire loans, rehab loans, and more.

    Reverse Mortgages

    • Equity Management strategies for high-end homes and high net worth individuals.

    Contact Steve Kappre directly at 856-419-3561 or at www.stevekappre.com

    Comment balloon 4 commentsStephen Kappre • August 15 2009 08:55PM


    Steve -- this is happy news!  Congrats on your deal, and the proof.

    Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) over 10 years ago

    Hi Steve: Thanks for the education - I did not know Lenders where allowing this! It is great new for homebuyers.


    Posted by Matt Listro, Your Credit Repair Expert (National Credit Fixers - Matt Listro) over 10 years ago

    GREAT NEWS!  I didn't realize this is possible now so THANKS FOR SHARING!

    Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) over 10 years ago

    Carla - THanks

    Matt - This loan is a perfect fit for some people. I had a client approved on this loan but not a typical grant program, so this really has it's place.

    Renee - You are welcome! Check your state/local lender.

    Posted by Stephen Kappre, Helping You Home (KW Hometown) over 10 years ago

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