Advisors Mortgage Group Ranked Number One Lender for New Jersey Housing and Mortgage Finance Agency Down Payment Assistance Programs

OCEAN, N.J. - June 11, 2024 - PRLog -- Advisors Mortgage Group ("Advisors" or the "Company"), based in Ocean Township, New Jersey, announces it is the number one lender in volume for the New Jersey Housing and Mortgage Finance Agency (NJHMFA) Programs, according to David Sabol at the organization.

The NJHMFA is a state government agency that advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs.

A standout feature of NJHMFA's support for homebuyers is the Down Payment Assistance Program. This program provides up to $15,000 for down payment and closing costs, a substantial aid that can be a game-changer for many. The program is structured as a second, forgivable loan with no interest and no monthly payments. It's forgiven if the borrower resides in the home for a specified period (usually five years) and does not refinance the first mortgage during that time.

The First Generation Homebuyer Program is particularly noteworthy. Targeting individuals who are the first in their family to purchase a home or who have ever been in the New Jersey Foster Care system, this program offers an additional $7,000 in down payment assistance which not only assists in acquiring property, but also in establishing generational wealth. It offers a tangible pathway for families to break the cycle of renting and lay down roots through homeownership.

According to a recent online article from the Asbury Park Press, "Central New Jersey's apartment market remains tight, with rent continuing to outpace inflation. In towns including Eatontown, Toms River and Ocean Township, average rent increased at least 7% from a year ago, according to the real estate company Zillow."  On the other hand according to Zillow, Monmouth County home appreciation is up 9.9% year over year which illustrates a major benefit of homeownership versus renting.

David Sabol from the NJHMFA states, "Our goal as an organization is to make homeownership more affordable and accessible for low to moderate income families and individuals as well as those with special needs. Advisors Mortgage Group is a valued partner in this mission and their team is so well-versed in our programs and processes that they help make the road to homeownership a much smoother one for so many people."

To learn more about Advisors Mortgage Group and the NJHMFA loan programs you can visit:https://njhomefinance.com/ or call them at 855-LOANS-USA.

About Advisors Mortgage Group

With big dreams and even bigger determination, Advisors Mortgage Group, LLC was founded in October 1999 by a single loan officer in a 400-square-foot office in Shrewsbury, New Jersey. In the years since its formation, Advisors has grown to serve not only the greater New Jersey area but also a vast portion of the United States. With branch offices up and down the East Coast and its corporate office in Ocean Township, New Jersey, Advisors Mortgage has established itself as a pillar of excellence in the mortgage industry. Our immense experience is our greatest asset and is the foundation of the success of the Company and every Advisors' branch and loan officer.