NJ First-Time Home Buyers


New Jersey First Time Home Buyer Programs and Options

Gloucester County FlowersNew Jersey Housing and Mortgage Finance Agency (NJHMFA) mortgage interest rates as of May 10, 2010. This includes the Smart Start NJ First Time Home Buyer Program.

Smart Start allows a home buyer to obtain the required downpayment for an FHA loan. As an example, a home buyer purchase a home for $100,000.  Their required down payment would be 3.5% (or $3,500). In this situation their loan amount would be $96,500. The Smart Start program offers the buyer 4% of the loan amount or in this case $3,860. ($96,500 x 4%). This covers all of the required down payment for an FHA loan and even puts some money towards the closing costs (which the seller can pay the rest if negotiated correctly).

First Time Home Buyer 30 Year Term

5.250% - First Mortgage with no Smart Start assistance

5.625% - First Mortgage with 2% Smart Start assistance

5.750% - First Mortgage with 3% Smart Start assistance

6.000% - First Mortgage with 4% Smart Start assistance

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

Home Plus

5.625 with 3 points

Purchase/Rehabilitation Mortgage Program

5.625 with 3 points


Other NJHMFA options include Police and Fire Loans and Live Where You Work. Steve Kappre and Treasury Mortgage are an approved and servicer of NJHMFA Smart Start loans.



Steve Kappre is a mortgage loan officer in New Jersey. For more info or questions feel free to contact Steve.

  • NJ First Time Home Buyer
  • Purchase, refinance, rehab loans
  • Conventional, FHA, USDA, VA, HMFA, First Time Home Buyer, Police and Fire, Live Where You Work, and more

Call direct @ 856-419-3561 | Subscribe to Steve's blog via e-mail | NJ Loan Officer .com | NMLS ID: 218007

Comment balloon 2 commentsStephen Kappre • May 29 2010 11:23AM


Valuable info for buyers that are looking for downpayment help.

Posted by Lyn Sims, Schaumburg Real Estate (RE/MAX Suburban) over 10 years ago

This is a great program for first time home buyers in NJ.  Couple this with seller's concessions and these first time buyers are in a great position going into their first home.

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

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