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New Jersey Real Estate

Blog by Karl von Loewe
Hillsborough, New Jersey
Real estate market information and occasionally spirited opinions about residential real estate in Somerset, Hunterdon, Mercer and Middlesex Counties by a REALTOR® with over a quarter century of experience. COMMENTS ARE WELCOME. Please use the Add Comment link at the bottom of the posting.

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New Jersey Helps the First-Time Home Buyer
Posted at New Jersey Real Estate by Karl von Loewe
Dec. 14, 2007
Categorized in: First-Time Homebuyers
Tagged with: firsttime, home buyers, mortgages, real estate

Scraping together the necessary money for down payment and closing costs is often an insurmountable hurdle for the first-time home buyer in New Jersey.  The New Jersey Housing Mortgage Finance Agency has a program to help them. It's called "Smart Start", and it is.

For buyers who meet the income guidelines, and properties in "smart growth" areas, a second mortgage of up to 4% of the first mortgage amount is offered.  If the buyers keep the home as their primary residence for seven years, the whole second mortgage is forgiven.  Check it out at: http://snipurl.com/1v8kt.

This is a great time of year to find great value in real estate.  For the first-time home buyers, this is a great value in mortgage financing.

 

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