The First Home Club
- Do You Have A Great Credit Score?
- Do You Want to Buy a House In The Next 24 months?
- Can You Afford to Put the Same Amount of Money Every Month into a Systematic Savings Account for 10-24 Months?
- Do You Want to Buy a Condo, Townhouse or Single Family Home in NJ?
- Are You A First Time Homebuyer?
If you answered, "Yes" to the above --- Read on!
Applicants must have good credit. Anyone not sure of their credit score can go to:www.creditkarma.com/
The First Home Club (FHC) is open to households with incomes below 80% of the area median income.
- 1-2 Person Households - $80,400
- 3+ Person Households - $92,460
For other counties please see First Home Club Income Limits.
Upon completion of all requirements the First Home Club provides a grant match of 4: 1 for each dollar saved. The maximum grant amount is $7,500.
In addition to making monthly deposits all participants must complete the required six hours of either face-to-face or online counseling.
First Home Club Program Guidelines
First Home Club participants agree at time of closing to sign a 5-year subordinate mortgage with the member bank for the amount of grant funds. If they live in their home for 5 years then they do not have to pay back the funds and the subordinate mortgage is cancelled.
To find out more information or to arrange an in-person meeting to fill out an application for the First Home Club Program, contact CJHRC at 908-704-9659, mailbox #7