You have little to no $$ for a down payment...

You want to buy a home, credit is good, you have little to no money for down payment. Can you still buy a home? The answer is YES!

There are still programs out there to help the first time home buyer with their down payment and even closing costs.

Courtesy of the wonderful Gina Peterson of Jersey Mortgage Company, she has provided us with the information and resources about the down payment assistance programs. She recently issued a newsletter (Volume 1, Issue 5) that went into discussed down payment assistance programs which triggered me to do my own research for my first-time home buyers. (Which consisted of asking Gina the same questions over and over).

If you would like to contact her or if you would like a copy of the newsletter she issued she can be reached at: gpeterson@jerseymortgage.com OR 732.259.1030
She will be more than happy to answer any questions and get you started on purchasing a home by pre-qualifying you over the phone.

• Live Where You Work: The New Jersey Housing Finance Agency (HMFA) has a program which offers home buyers who will live and work in a participating municipality a low interest 30 or 40-year, fixed-rate, first mortgage.
• Smart Start Program: The NJ HMFA has this other program that will make Smart Start down payment and/closing cost loans in the amount of 2%, 3% or 4% of the first mortgage to qualified Home Buyer Program borrowers purchasing in Smart Growth areas as determined by the Agency’s Smart Growth locator. To view if the home is located in a Smart Growth locator Click here.

We covered having credit issues and now down payment issues. Anything else that might be preventing you from making the next step and finally purchase a new home. NOW IS THE TIME TO BUY! Prices are at their all time lows, interest rates are great.