Buying a home in New Jersey: the help you may qualify for.

Down payment and closing cost help

From the New Jersey Housing and Mortgage Finance Agency (NJHMFA).

• NJHMFA Down Payment Assistance

  Up to $15,000 (by county)

  0% second loan with no payments, forgiven after five years in the home.

• First Generation Homebuyer add-on

  Another $7,000 (up to $22,000 total)

  For first-time buyers whose parents don't own a home, or who were in foster care in New Jersey.

Who qualifies: With an NJHMFA first mortgage, credit and income limits, through a participating lender.

Property tax exemptions and credits

Exemptions lower your home’s taxable value or your bill. Most aren’t automatic: you apply with your local tax assessor or NJ Division of Taxation. New Jersey’s official exemptions information.

For homeowners who live in the home

• ANCHOR and Stay NJ

  Property tax relief payments; Stay NJ is up to half your taxes (max $6,500) at 65+

  ANCHOR sends relief payments to many homeowners. Stay NJ adds a benefit of up to 50% of property taxes, capped at $6,500, for homeowners 65 or older. You get the higher amount, not both.

  How to apply: One combined application (Form PAS-1); the 2025 deadline is November 2, 2026. (NJ Division of Taxation)

For homeowners 65 and older

• Senior Freeze

  Reimburses increases in your property taxes

  For homeowners 65 or older (born in 1960 or earlier for the 2025 program) or receiving Social Security disability, under income limits.

  How to apply: Form PAS-1. (NJ Division of Taxation)

• Veteran and senior $250 deductions

  $250 off your property tax bill

  For eligible veterans and surviving spouses, and for seniors, disabled homeowners and surviving spouses under an income limit.

  How to apply: With your local tax assessor. (NJ Division of Taxation)

For veterans

• 100% disabled veteran exemption

  Full exemption on your home

  For wartime veterans with a 100% permanent and total service-connected disability, and their surviving spouses.

  How to apply: With your local tax assessor. (N.J.S.A. 54:4-3.30)

Want to see which ones fit you? Answer a few questions in the property tax exemptions checker.

Your next steps

1. Work out a monthly cost you’re comfortable with in the home cost calculator. It also lists New Jersey’s programs with the loans you may qualify for.
2. Talk with a free or low-cost HUD-approved housing counselor. Find one near you.
3. Ask each lender which of these programs they work with, and compare Loan Estimates from at least three.
4. Follow the step-by-step home buyer’s guide from budget to keys.

Common questions