First-Time Homebuyer Programs in New Jersey

Start Smart. Own with Confidence.

Buying your first home is a big deal-but it doesn't have to be overwhelming. At Elias Mortgage, we help first-time buyers across New Jersey feel confident and in control, no matter their budget, credit score, or questions. We walk you through your loan options, explain how down payment assistance works, and help you line up financing that fits your real life.



Whether you're shopping for a condo in East Brunswick, a starter home in Old Bridge, or planning a move to Monroe Township, we'll guide you from pre-approval to closing-with the kind of honest advice and patient support first-timers deserve.

Mortgages That Make First Homes Possible

 Let's break down the most popular mortgage programs available for first-time buyers in New Jersey:

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FHA Loans (3.5% Down)

Backed by the federal government, these loans offer low down payment requirements and flexible credit guidelines. Great for buyers with limited savings or credit challenges.

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Conventional 97 (3% Down)

A great option if you have strong credit but limited funds. These loans require only 3% down and may include reduced mortgage insurance.

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VA Loans (0% Down)

For eligible veterans and active-duty military, VA loans offer no down payment and no PMI. 

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USDA Loans (0% Down)

If you're buying in a qualified rural area, USDA loans offer 100% financing with low mortgage insurance. Ask us if your location qualifies.

Each of these options has pros, cons, and eligibility details-but we'll walk you through them all and recommend what fits your situation best.

You May Qualify for NJ Down Payment Assistance

Don't let a down payment keep you from buying your first home. New Jersey offers several programs to help cover upfront costs:

  • NJHMFA Down Payment Assistance

    Offers up to $15,000 toward down payment and closing costs when paired with a state-backed mortgage.

  • Middlesex County American Dream Program

    Provides up to $5,000 in forgivable funds for qualifying local buyers.

Many buyers don't realize these programs exist-or how to combine them with the right loan. We'll help you navigate the rules, apply correctly, and stack the benefits to reduce your out-of-pocket expenses.

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3 Steps to Homeownership with Elias Mortgage

Step 1: Get Pre-Approved

We'll review your income, credit, and budget-then give you a pre-approval letter so you can shop with confidence.

Step 2: Choose the Right Program

FHA, conventional, VA, USDA-we'll explain the pros and cons and recommend the best fit for your financial goals.

Step 3: Close with Support

We coordinate with your agent, attorney, and lender to make sure nothing falls through the cracks. Questions? We're always here.

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First-Time Buyer Questions, Answered

  • How much do I need for a down payment?

    With an FHA loan, you could buy with as little as 3.5% down. Some buyers may qualify for 0% down with VA or USDA loans. Combine that with NJ assistance programs, and you might need far less than you think.

  • What credit score do I need to qualify?

    FHA loans accept scores as low as 580 in many cases. Higher credit can open up conventional options. Either way, we'll review your credit, explain your options, and help you improve if needed.

  • What are closing costs, and can they be reduced?

    Closing costs usually total 2-5% of the purchase price. Some may be covered by assistance, seller credits, or lender programs. We'll break it all down before you commit to anything.

  • Do I need a lawyer to buy a house in NJ?

    In New Jersey, real estate contracts are attorney-reviewed. As a licensed attorney and broker, Adam Elias can help you handle both the mortgage and the legal side-saving time and giving you peace of mind. 

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You Don't Need to Know It All-That's Our Job

There's a lot to consider with your first home loan, but you don't have to figure it out alone. We've helped first-time buyers across Central Jersey take the leap into homeownership-and we're ready to help you too.