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New Jersey 1st Time Buyer
Assistance Program
New Jersey is one of 9 states which now offer first-time home buyer tax credit loan programs to qualified buyers. These short-term second loans are available for little or no interest and may be repaid with the tax credit refund.
The American Recovery and Reinvestment Act of 2009 provided a federal income tax credit for first-time homebuyers of ten percent of the sales price, up to a maximum of $8,000, for the purchase of a new or existing home. The tax credit is available to qualified homebuyers who purchase a home before April 30, 2010, and close by July 31,2010.
To help buyers that need down payment and closing cost assistance when purchasing a home with the tax credit, a number of HFAs are offering special short-term second loans to qualified buyers. These loans are available for little or no interest and may be repaid with the homebuyer tax credit refund.
In New Jersey, the 1st-time home buyers loan program is administered by the New Jersey Housing and Mortgage Finance Agency (visit www.nj-hmfa.com).
I can help with the Buyer Assistance Program and real estate values and opportunities in Mercer and surrounding counties. Just call or email. Thanks for your interest,
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