Establishes loan program for first-time homebuyers who move to areas with most abandoned properties; appropriates $5 million.

This bill establishes a state loan program to help first-time homebuyers purchase and repair homes in areas with high numbers of abandoned properties. Eligible applicants (first-time homebuyers meeting at least four specific criteria, such as education, military service, or relocation commitments) can receive interest-free, deferred loans up to $10,000 to cover basic repairs like plumbing, roofing, or electrical work. The program targets the 10 New Jersey municipalities with the most abandoned properties and all areas within five miles of those municipalities. The state appropriates $5 million from the General Fund to fund the program, which requires repayment only when the home is sold or transferred.