Jersey City opens applications for home ownership program

The city’s Golden Quarter Homeownership Program will provide financial assistance for down payments and closing costs to eligible first-time home buyers. (Photo Shutterstock)

Jersey City announced that the city is opening applications for its homeownership program, which will provide grants to help low-to-moderate income residents looking to buy a home in the city.

Titled Golden Neighborhood Homeownership Program, the program offers financial assistance with down payments for a home of up to 10% of the purchase price, as well as up to $10,000 in closing costs for eligible homebuyers.

“This is a great opportunity to engage and educate the community about homeownership in our city,” Mayor Steven Fulop said in a statement. “Our goal is to create and preserve affordable housing while helping residents become homeowners where they otherwise could not afford their own family home.”

Those who may qualify for the program must have a family income between 60 and 80 percent of the area median income (AMI), with the maximum grant for qualified applicants being $150,000. Receiving the maximum allowable amount will depend on family size, household income and AMI percentage.

Grants are awarded to the homeowner once they have found a home in the city and entered into a contract, the property meets mandatory housing standards and lead paint inspections, and the buyer receives an appraisal from the property and obtains a commitment from the mortgage lender.

“We are excited to provide additional support to make home ownership a reality for Jersey City residents,” said Deja Anderson, Director of the Community Development Division. “We want to keep communities intact while creating opportunities for generational wealth creation.”

Applications can be submitted online at until November 1. Those who qualify after a preliminary selection will be entered into a lottery selection process.

The city said the grants are considered a grant and will become a loan if the buyer moves out, sells the property before the end of the required affordability period, or defaults on the mortgage. The home buyer will be required to repay a portion of the grant based on a payback schedule.

The Community Development Division will also host a Mortgage Fair with local and national banks to provide additional support/information on their own internal first home buyer programs, which can be used in combination with GNHP grants. The fair will be held at 4 Jackson Square inside the Holloway Board Room on October 5 from 3-8 p.m.

For a list of qualifications and program details, visit For more information on the application process, contact the Community Development Division by phone at 201-547-6910 or [email protected]

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