MAKE YOUR DREAM OF HOMEOWNERSHIP A REALITY

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AFFORDABLE MORTGAGE PROGRAMS

We’re committed to putting homeownership within your reach. We pay close attention and listen to the details that matter most to you, and then match you with the right mortgage. Our Lending Specialists are here to guide you from the moment you fill out an application all the way through closing.

FIRST-TIME HOMEBUYER MORTGAGE

Your first home is a leading step in the investment of your future and that’s why we offer a down payment as low as 5% for our first-time homebuyers. You want a mortgage that meets you where you are now and accommodates those ambitions yet to come. Our lending specialists are here to guide you from the moment you fill out an application all the way through closing.

  • May be eligible for fee waivers on application fees
  • Income and/or census tract restrictions apply
  • The borrower must NOT have owned a home in the past 3 years
  • Properties must be located in Bergen, Passaic, Morris, Essex, or Hudson Counties
  • Available for buying owner-occupied, primary residence
Available for purchase only. Other restrictions may apply.

COMMUNITY MORTGAGE

When you buy a home, you forge a relationship within the neighborhood. It’s a move that impacts a lot of people for the better, including you. To make that move as profitable as possible, we offer a down payment as low as 5% for purchasing or rate term refinancing.

  • May be eligible for fee waivers on application fees
  • Income and/or census tract restrictions apply
  • Properties must be in a low or moderate census tract as determined by FFIEC.gov
  • Properties must be located in Bergen, Passaic, Morris, Essex, or Hudson Counties
  • Available for a one or two family owner-occupied primary residence
Available for purchasing or rate term refinancing. Other restrictions may apply.

FEDERAL HOME LOAN BANK HOMEBUYER DREAM PROGRAM®

Funds are no longer available for 2022, please check back in 2023.


The Federal Home Loan Bank’s Homebuyer Dream Program® is a grant program offered to eligible first-time home buyers that provides up to $10,000. Grant money can be used to pay up to $9,500 towards down payment and closing costs, with up to $500 as credit towards an approved homeownership counseling program.

Eligibility Requirements:

  • Household is a first-time homebuyer
  • Income restrictions apply
  • Provide a fully executed Purchase and Sales Contract
  • A minimum equity contribution of $1,000 towards the purchase
  • Purchase an eligible property in New Jersey
  • Completion of homeownership counseling
  • Execution of a 5-year retention document at closing
Other restrictions may apply.

BERGEN COUNTY AMERICAN DREAM PROGRAM

The program provides a 0% deferred second mortgage; combining up to $55,000 of HOME Program funds, which are paid back upon sale of house, transfer of title or the home no longer is your primary residence. Additionally, funds of up to $10,000 in matching down payment assistance are available to eligible applicants.

  • Reside or work full-time in Bergen County
  • If filed for bankruptcy, must be discharged 5 years with re-established credit
  • Not have owned a home in the past three years
  • A household must have an annual income within the low/moderate income as stated by the HOME Income Guidelines
  • Total income must be used to qualify for the program and will include all income from all sources, for all members of the household
To apply, contact: Jacqueline Atkins, Program DirectorPlease note that Blue Foundry Bank is a sponsor of this Program and you need to apply directly with the Bergen County American Dream Program. You may be referred to another bank upon application.