New Jersey S1446 modifies the down payment assistance program to benefit first-generation and first-time homebuyers.

New Jersey S1446 modifies the down payment assistance loan program, administered by the New Jersey Housing and Mortgage Finance Agency (HMFA), to benefit first-generation and first-time homebuyers. The bill expands the definition of "first-time homebuyer" to include those using HMFA mortgage products to purchase single-family housing, regardless of prior property ownership within the last three years.

New Jersey S1446 modifies the down payment assistance program to benefit first-generation and first-time homebuyers.

New Jersey S1446 modifies the down payment assistance loan program, administered by the New Jersey Housing and Mortgage Finance Agency (HMFA), to benefit first-generation and first-time homebuyers. The bill expands the definition of "first-time homebuyer" to include those using HMFA mortgage products to purchase single-family housing, regardless of prior property ownership within the last three years.