The Smart Start Plus First-Generation Program: Maximize Your Buying Power

In a massive step toward expanding affordable homeownership, New Jersey has launched the Smart Start Plus First-Generation Homebuyer Program. This initiative provides an incredible financial boost to families looking to build generational wealth through real estate.

How Smart Start Plus Works

The Smart Start Plus program provides a generous $7,000 toward your down payment and closing costs. The true power of this program is that it is designed to be paired with an NJHMFA first mortgage and the standard NJHMFA DPA. Depending on the county where you purchase, first-generation buyers could receive up to an impressive $22,000 in total assistance.

Like the standard DPA, this assistance is a zero-interest, no-monthly-payment loan that is fully forgiven after five years of living in the home as your primary residence.

Are You a First-Generation Homebuyer?

You qualify as a first-generation homebuyer if you are a first-time buyer and:

• Your parents or legal guardians do not own residential property anywhere, and your spouse and household members have not owned a principal residence in the past 3 years.
• OR you are an individual who has been in the New Jersey foster care system at any point.

Borrowers must have a minimum credit score of 620 to be eligible. Visit our First-Time Home Buyer Hub today to see if you qualify!