A 1005 New Jersey General Assembly · 2024-2025 Regular Session

Creates home purchase grant program in HMFA for certain veterans who served in federal active duty; appropriates $2,000,000.

This bill establishes a $2 million home purchase grant program through New Jersey's Housing and Mortgage Finance Agency (HMFA) for veterans who served at least 90 days in federal active duty. It provides dollar-for-dollar matching grants up to $10,000 per veteran to cover closing costs, equity payments, or other home-buying expenses, with no income requirements. To qualify, veterans must prove NJ residency, active-duty service, and intent to buy a NJ primary residence. The program prioritizes applicants also eligible for HMFA's first-time homebuyer programs but does not require meeting their additional criteria. The $2 million appropriation from the General Fund will fund this initiative.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Housing Committee
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
NM
Nancy Muñoz
RRepublican
NJ
21