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1st Home Grants

by Jonathan
(South Orange NJ 07079)

My name is Jonathan I'm in South Orange NJ Looking to buy a home in ......Sicklerville NJ, Gloucester township 08081. My husband and I Are in love with a house that is listed at $115,000.00. We are both 1st time home buyers he has a credit score of 640 Income of 50k.

I’m sadly at 590 income of 50-60k. From what I'm reading my score holds us down.... can my husband apply for a loan himself with his mom as a co-signer?

Also, Trying to find A grant that helps with down payment /closing in NJ. YOUR INFO and site is great !! We’re renting an apartment paying $1800 mo it seems like we can get a home mortgage way lower than that any links you can send me to apply for grants once we get the loan?

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1st Time Home Buyer Grants in New Jersey
by: Jeffrey

Hello Jonathan

Thanks for visiting my website and asking your questions. Sorry for slow response.

You are correct, the lower credit score can make it harder to get a loan. However, you may want to talk to a lender anyway, because recently they have begun to relax the credit score requirements. I think you can get an FHA loan with a minimum score of 580 now.

Your income looks strong, as long as you’re not carrying a lot of debt you should be fine. Yes you can get a mortgage with a co-signer but it requires a larger down payment, like about 20% down so you would not be able to use any down payment programs.

If you and your wife qualify for the loan, then you could use the programs for down payment assistance. Here’s a link to help you out. The program in New Jersey is called "Smart Start" for first time home buyers.

New Jersey First Time Home Buyer Grants.

Kind Regards,


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