LIVE WHERE YOU WORK – PATERSON

HOME BUYERS PROGRAM

The City of Paterson  is one of several governmental agencies throughout the state of New Jersey who have been selected by the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to participate in the Live Where You Work Program. This special homebuyer incentive program provides low interest 30 or 40-year fixed rate first mortgage loans to homebuyers who work in and who are looking to purchase a home in the City of Paterson.

Goals of the Live Where You Work City of Paterson  Program are:

1. Strengthen our neighborhoods and increase community involvement through home ownership
2. Attract individuals who work in the City of Paterson to also live in our City
3. Develop positive relationships between the City of Paterson and members of the local business and residential communities

What are the benefits of the Live Where You Work City of Paterson Program?

1. Low-interest mortgages for first time home buyers
2. Downpayment and closing cost assistance for the purchase of a home
3. More flexible underwriting criteria for the loan qualification process

Where are properties located for sale in the City of Paterson?

Please feel free to visit the NJHMFA’s Housing Resource Center. You may also find local properties listed at REALTOR.com or contact your local realtor.

How do home buyers apply for a loan?

Contact 1-800-NJHOUSE, a lender from the list below, or another NJHMFA Live Where You Work program approved lender. NJHMFA Approved Lender List

Click here to view the NJHMFA Approved Lender List