Mayor Fulop announces open applications for Jersey City Homeownership Program to help low- and middle-income families

Mayor Fulop announces open applications for Jersey City Homeownership Program to help low- and middle-income families

Applications to be accepted from September 1 to November 1

JERSEY CITY – Mayor Steven M. Fulop joined the Community Development Division to announce the return of Home Ownership Program (Golden Quarter Home Ownership Program) with major impact. Beginning Thursday September 1, 2022, at 10 a.m., pre-applications for the homeownership program will be accepted online.

The program helps low-to-middle income residents looking to buy a home in Jersey City with down payment assistance and closing costs up to $150,000.

“This is a great opportunity to engage the community and educate them about homeownership in our city,” said Mayor Fulop. “Our goal is to create and preserve affordable housing while helping residents access homeownership where they otherwise could not afford their own family home. This program can help them achieve these goals.

The preliminary application period is open from September 1stst until November 1st. Jersey City residents who qualify after their preliminary selection will be entered into a lottery selection process. Applications will be online from September 1st.

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

For a list of qualifications and full details, please visit the Jersey City Community Development website.

The GNHP grant is considered a grant and not a loan. There are no interest charges or payments for the duration of the grant. It becomes a loan if the buyer moves out, sells the property before the end of the required affordability period, or defaults on the mortgage. The homebuyer is required to repay a portion of the grant based on a payback schedule

The Community Development Division is home to many resources. Families who are not eligible for this specific assistance program will be offered financial support.

Additionally, DCD will host a mortgage fair with local and national banks to provide additional support/information on their own internal homeownership programs, which can be used in combination with our grant. The event will take place on October 5, 2022, from 3 p.m. to 8 p.m., at 4 Jackson Square, inside the Holloway Board Room.

To ensure success and greater stability, qualified lottery winners will also be required to undergo pre- and post-mortgage counseling by a HUD-certified provider.

For more information on the application process, please contact the Community Development Division by phone at 201-547-6910 or [email protected]

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