Jersey City Announces Open Applications for First Time Homebuyer Program to Aid Low, Moderate-Income Families

The Division of Community Development has announced the return of the Jersey City First Time Homebuyer Program (Golden Neighborhood Homeownership Program) with a significant impact.

Jersey City First Time Homebuyer Program

Beginning Thursday, September 1, 2022, at 10 a.m., pre-applications for the first-time homeowner program will be accepted online.

The program assists low- to moderate-income residents looking to buy a home within Jersey City with down payment assistance and closing cost up to $150,000.

“This is a great opportunity to get the community engaged and educated about homeownership in our City,” said Mayor Fulop.

“Our goal is to create and preserve affordable housing while also helping residents achieve homeownership where they may not otherwise be able to afford their own family home. This program can help them achieve those goals.”

The preliminary application period is open from September 1 through November 1.

Qualifications

Jersey City residents who qualify after their preliminary screening will be entered into a lottery selection process.

For a list of qualifications and full details, please visit Jersey City’s Community Development website.

The GNHP subsidy is considered a grant, not a loan. There are no interest charges or payments for the life of the grant. It becomes a loan if the buyer moves, sells the property prior to the end of the required affordability period, or defaults on the mortgage.

To ensure success and further stability, qualified lottery winners will also need to complete pre-and post-mortgage counseling by a HUD-certified provider.

For more information about the application process, please contact the Division of Community Development by phone at 201-547-6910 or at GNHP@jcnj.org.