Creates home purchase grant program in HMFA for certain veterans who served in federal active duty; appropriates $2,000,000.
This bill establishes a $2 million home purchase grant program through New Jersey's Housing and Mortgage Finance Agency (HMFA) for veterans who served at least 90 days in federal active duty. It provides dollar-for-dollar matching grants up to $10,000 per veteran to cover closing costs, equity payments, or other home-buying expenses, with no income requirements. To qualify, veterans must prove NJ residency, active-duty service, and intent to buy a NJ primary residence. The program prioritizes applicants also eligible for HMFA's first-time homebuyer programs but does not require meeting their additional criteria. The $2 million appropriation from the General Fund will fund this initiative.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Housing Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
NM
Nancy Muñoz
RRepublican
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