NJHMFA offers a First-Time Home Buyer Program and a Homeward Bound first mortgage program. Both programs offer a 30-year fixed-rate mortgage. The mortgage is coupled with a Down Payment Assistance (DPA) program that provides $10,000 for down payment and closing costs. The DPA is interest free, requires no payments, and is forgivable after five years. NJHMFA’s programs are offered through our network of approved lenders.