First-time Home Buyers Assistance Program

The Monmouth County, New Jersey First-Time Homebuyers Assistance Program

The Monmouth County, NJ First-Time Homebuyer Assistance Program is designed to provide financial assistance to eligible low- and moderate-income county residents purchasing a home in Monmouth County. Assistance is provided in the form of a deferred-payment second mortgage loan of up to $10,000, which may be used toward down payment and/or closing costs.

PROGRAM DETAILS & ELIGIBILITY

  • MUST BE a resident of Monmouth County for 1 YEAR at the time of qualification and purchase

  • ALL applicants must complete both HUD-approved Homebuyer Education AND Homebuying Counseling and provide a certificate of completion with the First-Time Homebuyer application.

  • MUST BE an individual(s) that never owned a home (except if an applicant has previously owned a home he/she still may qualify if they meet 1 or more of the following criteria:

    • An individual that has not owned a home in 3 years prior to receiving home assistance. 

    • An individual who is a single parent even if the individual owned a home with his or her spouse or resided in a home owned by the spouse

    • An individual who is a displaced homemaker even if as a homemaker the individual owned a home with his or her spouse or resided in a home owned by the spouse.

Income is less than the following maximum income limits in Figure 1:

FTHB Monmouth County NJ Income Limits 2026

FINE PRINT:

  • Must occupy the property as a principal, year-round residence.

  • Applicant must purchase a house located in the participating municipalities ONLY.

  • First-time homebuyer may purchase any 1-4 family property or condominium unit

  • The housing unit cannot exceed the maximum purchase price of $524,225.00 for 1-family and condominium, $671,200.00 for a 2-family unit, $811,275.00 for a 3-family unit, and $1,008,300.00 for a 4-family unit.

  • Mobile homes are not eligible for purchase using First-time Homebuyer program funds

  • Co-signor not allowed

  • The applicant's monthly housing payment, including principal, interest, taxes, insurance, and applicable homeowner association fees, cannot exceed 40% of the applicant's adjusted monthly gross income.

  • Eligibility requirements, exclusions and other terms and conditions apply.

 

Have Questions? Speak with one of our loan officers directly at (908) 489-4658. 
We are here to answer any of your questions.

 

**The FTHB Program does not require that the first-time homebuyer remain ‘low-income’ after meeting the initial test. Note: All household members 18 years of age or older, must submit income documentation. Income limits are effective as of 05/ 01/2026.

*Income limits are effective as of 05/ 01/2026. Eligibility requirements, exclusions and other terms and conditions apply. Participating Municipalities: Aberdeen, Allenhurst, Allentown, Asbury Park, Atlantic Highlands, Avon-by-the-Sea, Belmar, Bradley Beach, Brielle, Colts Neck, Deal, Eatontown, Englishtown, Fair Haven, Farmingdale, Freehold Borough, Freehold Township, Hazlet, Highlands, Holmdel, Howell, Interlaken, Keansburg, Keyport, Loch Arbour, Long Branch, Manalapan, Manasquan, Marlboro, Matawan, Middletown, Millstone, Monmouth Beach, Neptune Township, Neptune City, Ocean Township, Oceanport, Red Bank, Roosevelt, Rumson, Sea Bright, Sea Girt, Shrewsbury Borough, Shrewsbury Township, South Belmar, Spring Lake, Spring Lake Heights, Tinton Falls, Union Beach, Upper Freehold, Wall, West Long Branch.