: Now's the Time to Buy a Home at the Jersey Shore - New Incentives for Home Ownership

Now's the Time to Buy a Home at the Jersey Shore - New Incentives for Home Ownership

Now's the Time to Buy a Home at the Jersey Shore - New Incentives for Home Ownership

In an effort to encourage home ownership in rental squeezed Super Storm Sandy markets, state officials hope a new incentive pushes low and moderate income families to buy a house in communities impacted by the storm.

10 Greenside -Little Egg Harbor REALTOR Laura Giannotta There are $50,000 in interest-free, forgivable mortgage loans now available to residents in New Jersey's 9 storm ravaged counties -Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean and Union. 

These forgivable mortgage loans are expected to help 500 families purchase homes over the next two years. 

The program — part of the state's plan to spend more than $1.8 billion in federal Community Development Block Grant funds — is now open to residents who lived in one of the nine hardest hit counties but after October 25th, the program will open to any resident looking to buy a home in one of those nine counties.

In order to be eligible for a portion of the $25 million Sandy Homebuyer Assistance Program, applicants must have a credit score of at least 620 and meet certain income requirements. Deer Lake - Little Egg Harbor REALTOR Laura GiannottaThese Jersey Shore Mortgage loans will be forgiven after residents live in the homes for five years.

For more information about this New Jersey Housing and Mortgage Finance Agency  program, visit www.renewjerseystronger.org or call (855) 726-3946.

If you'd like help finding a home at the Jersey Shore, contact Little Egg Harbor REALTOR® Laura Giannotta at 609-384-6121.


Comment balloon 4 commentsLaura Giannotta • August 07 2013 06:23AM


Seems like a damn good incentive to me Laura.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) about 7 years ago
Laura, Great post! It's getting to be a good time to buy in so many areas now. Glad that the Jersey shore is starting to recover.
Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Samsel & Associates) about 7 years ago

WOW...Now IS the time...great incentives and from a Realtor who knows how best to use them...call Laura for all real estate on the Jersey Shore !

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) about 7 years ago

Roger - It's a lot of money, that you might not have to pay back!!!

Wayne & Jean Marie - I hope this will encourage full time residents to buy homes down at the shore.

Thanks Sally & David!

Posted by Laura Giannotta, Your Realtor Down the Shore! (Keller Williams Realty - Atlantic Shore ) about 7 years ago