Modifies down payment assistance program for benefit of first-generation and first-time homebuyers; makes an appropriation.

This bill modifies New Jersey's down payment assistance program to provide additional support for first-generation homebuyers. It increases the maximum down payment assistance to $20,000 for first-time homebuyers, with an extra $7,000-$10,000 specifically for first-generation homebuyers (defined as individuals whose parents never owned residential property and who may have been in foster care). The program requires recipients to use the home as their primary residence for five years, complete homebuyer counseling, and repay the loan if they move before the five-year term. The assistance is structured as a zero-interest, forgivable loan if all conditions are met.