Featured Mortgage Product of the Week- NJHMFA HFA Advantage 3% Down Conventional Mortgage Loan

It was a super busy day, so I’m a little late with my Featured Mortgage Product of the Week, but let’s get into it.

NJHMFA announced last week that as of February 1st, 2023, the income limits for the HFA Advantage program will be increasing in each county, to help more borrowers qualify!!!

Now, that’s great news!!! As I mentioned in my video, borrowers in Camden, Gloucester, and Burlington counties will have a maximum income limit of $148,400. That’s a huge increase from the original 80% of the area median income.

Here are some of the key details of the program.

🗝️ Low down payment of 3%
🗝️ $10,000 towards down payment and closing costs for southern counties of the state
🗝️ $15,000 towards down payment and closing costs for the northern counties of the state, except Sussex and Warren counties.
🗝️ Interest free forgivable loan after borrower occupies the property for 5 years.

For more details on the program and other NJHMFA programs, joint us at the “Skin in the Game” Homebuyer and Seller Workshop on February 11th, 2023 at HomeSmart Realty in Cherry Hill! The event is from 11-1, and you can register for free by clicking the link🔗in my bio.

Need to schedule a consultation with me?

Nikkie Haley- NMLS #1733105
Mortgage Loan Originator for LoanDepot

Call me now!

📲 856-677-6695
☎️ 215-444-7862
📧 [email protected]

IG: @madamemortgage
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