Buying a home in New Jersey can feel overwhelming, but there are powerful programs and grants available right now that can make the process more affordable. Whether you’re purchasing in Atlantic County, Cape May County, or Ventnor, here’s a breakdown of the most impactful opportunities.

🏡 Statewide Programs

NJHMFA Down Payment Assistance Program (DPA)

• Provides $15,000 in forgivable, interest-free assistance.
• First-generation buyers can qualify for an extra $7,000, totaling $22,000.
• Funds can be used for down payment and closing costs.

NJHMFA First-Time Homebuyer Mortgage Programs

• Offers competitive interest rates and guidance.
• Can be paired with the DPA for maximum benefit.

💰 Federal & Regional Programs

Homebuyer Dream Program® (HDP®)

• Grants of up to $30,000 available through participating lenders (e.g., Franklin Bank, Northfield Bank).
• Covers Cape May, Atlantic, Gloucester, Salem, Burlington, Camden, and Cumberland counties.
• Income limits apply (households at or below 80% of Area Median Income).

FHA, VA, and USDA Loans

• Federal mortgage options with low or zero down payment requirements.
• FHA loans are popular for buyers with lower credit scores.
• VA loans benefit veterans.
• USDA loans target rural areas.

📍 Local & County Programs

Atlantic County HUD HOME Down Payment Assistance Program

• Up to $30,000 in down payment and closing cost assistance.
• Eligibility: Must have lived or worked in Atlantic County for at least 1 year, be a first-time buyer (no homeownership in past 3 years), and purchase a home in Atlantic County (excluding Atlantic City).
• Assistance is provided as a deferred forgivable loan with no monthly payments.

Cape May County Programs

• Eligible buyers can access the Homebuyer Dream Program® and NJHMFA DPA.
• Combining these programs can yield over $50,000 in assistance.

Ventnor (Atlantic County)

• Buyers in Ventnor can access:
  • Atlantic County HUD HOME Program (up to $30,000).
  • NJHMFA DPA (up to $22,000).
  • HDP® grants (up to $30,000).
• Together, this means a Ventnor buyer could potentially stack $52,000+ in assistance if eligible.

🔑 Key Takeaways

• Stacking programs is possible: NJHMFA ($22k) + HDP ($30k) + Atlantic County HUD HOME ($30k) = over $50k in assistance.
• Residency/employment rules matter: Atlantic County requires at least 1 year of residency or employment.
• Timing is critical: HDP® funding rounds open annually and close quickly once funds are reserved.
• Education courses: Most programs require completion of a HUD-approved homebuyer education class.

🚀 Next Steps for Buyers

1. Check eligibility with NJHMFA and confirm income limits for Cape May/Atlantic counties.
2. Contact local lenders (Franklin Bank, Northfield Bank) for HDP® reservations.
3. Reach out to Atlantic County Improvement Authority (ACIA) for HUD HOME program applications.
4. Complete a HUD-approved homebuyer education course to qualify for most grants.

Final Word

For buyers in Atlantic City, Ventnor, and Cape May, these programs can dramatically reduce upfront costs and make homeownership more accessible. By layering county, state, and federal assistance, buyers can unlock tens of thousands of dollars in support—turning the dream of owning a home into reality.