NJ First-Time Home Buyers


NJ First Time Home Buyers: NOW May Be the Best Time to Move

NJ First Time Home Buyers: NOW May Be the Best Time to Move (Series)

NJ First Time Home Buyer Loan OfficerIn case you missed some of my other articles, you may want to know that ...

  • The first time home buyer tax credit has been extended. You can still qualify for a tax credit of (up to) $8,000 if you are a first time home buyer in New Jersey. First time home buyers are considered those who have not owned real estate within the last three years. The current guidelines require a home buyer to be under contract by April 30th and to close by June 30th.
  • As a first time home buyer in NJ, you can STILL finance a home with credit scores below 620. You read it right: No 620, 640, 700+ FICO score requirements. More recently we have closed purchases for qualifying borrowers with 593, 589, and 597 (middle) FICO scores. If you have been turned down by other lenders, give me a call. I'll let you know if buying is at all possible, and if not, give you great credit advice on how to effectively raise your credit scores.
  • Down payment assistance programs, home buying grants, and other options are STILL available. These are available for the majority of New Jersey homes and locations. Here is more information for understanding all of your first time home buyer mortgage options.
  • Zero down loans are also available for homes in most New Jersey areas. Some programs require the home to be in a specific geographic location, so check with your preferred NJ Mortgage Lender to see if you may qualify.
  • Mortgage interest rates are still low. No matter what program you ultimately select, chances are the rates right now are going to be better then the rates available in the near future.


BE CERTAIN to use a local New Jersey Mortgage lender that specializes in working with New Jersey first time home buyers, or you can be almost certain that you will not be introduced to all of the programs available to you.

Not all lenders have access to all programs, especially first time home buyer programs and options.

Stay posted for the continuing articles in this NJ First Time Home Buyer Series.

Comment balloon 7 commentsStephen Kappre • December 29 2009 01:08PM


Steve..Fantastic reminder..Timing is everything...Great info


Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) about 10 years ago

Hey Steve-

What a great post for home-buyers!  If I were in New Jersey looking for a loan, I wold be sending you my business. I love your emphasis on keeping it local. 

Wishing you tremendous success in 2010!

--Sara in San Antonio

Posted by Sara Woolford & Steve Golson, ALHS (iTexas Realty Co.) about 10 years ago

Hannah - I think many people will miss out waiting for ""greener" timing.

Sara - Thanks for the kind words. The same to you on your success.

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

Great information.  Some people are waiting for the "perfect time" and during the wait they miss out on some great opportunities like those mentioned here.

Posted by Andrea Kappre, New Jersey Realtor, New Jersey MLS, Homes for Sale (Keller Williams Hometown) about 10 years ago

Good post and I like the links - lots of great information. Thanks.

Posted by Peggy Chirico, REALTORĀ® 860-748-8900, Hartford & Tolland County Real Estate (Prudential CT Realty) about 10 years ago

Looks like the best time every to buy a piece of New Jersey real estate! A great time to buy!

Posted by Tiffany Torgan, Featured on HGTV's New Show! How Close Can I Beach (Harcourts Prestige Properties of La Jolla) about 10 years ago

I think rates are poised to increase, so yup I agree, now is a great opportunity to buy !


Posted by Sheldon Neal, That British Agent Bergen County NJ (Bergen County, NJ - RE/MAX Real Estate Limited) about 10 years ago

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