DHCD Home Purchase Assistance Program (HPAP)
The DHCD offers first-time home buyers with low to moderate incomes assistance with their down payment and closing costs through its Home Purchase Assistance Program, also known as HPAP.
HPAP offers zero-interest, deferred-payment loans that are repaid when the property is sold or refinanced.
Low-income applicants earning less than 80% of the area median income can receive up to $4,000 as an interest-free loan with no monthly payments, due upon resale or refinancing of the home.
Moderate-income applicants earning 80% to 110% of the area median income are eligible for a $4,000 interest-free loan, repayable after five years.
Read more at the HPAP homepage.