Housing (Homeownership) in New Jersey

in committee · New Jersey · General Assembly Jan 13, 2026

A 349: Establishes loan program for first-time homebuyers who move to areas with most abandoned properties; appropriates $5 million.

This bill establishes a $5 million loan program for first-time homebuyers purchasing homes in New Jersey areas with the highest concentrations of abandoned properties. Eligible applicants (meeting at least four of seven criteria, such as recent relocation, skilled employment, or education) receive interest-free, deferred second mortgages of up to $10,000 to cover basic repair costs like plumbing, roofing, or electrical work. The program targets the 10 municipalities with the most abandoned properties and all areas within five miles of their boundaries. Loans are deferred until property sale or transfer, and the New Jersey Housing Agency must adopt rules within nine months to implement the program.

Topics ✓ Housing

Sub-Topics Homeownership

in committee · New Jersey · General Assembly Jan 13, 2026

A 2387: Creates housing purchase matching grant program for members of United States Armed Forces and New Jersey National Guard who have served in certain military operations.

This bill creates a New Jersey housing purchase matching grant program for active-duty members of the U.S. Armed Forces and New Jersey National Guard who served in specific operations (Operation Noble Eagle, Enduring Freedom, or Iraqi Freedom) for at least 90 days. It provides up to $10,000 in matching funds - dollar-for-dollar - for closing costs or home equity purchases, with no income requirement. To qualify, applicants must prove NJ residency, intent to buy a NJ principal residence, and the required military service. The program is coordinated with the Department of Military and Veterans Affairs and does not require meeting other homebuyer program eligibility criteria.

Topics ✓ Housing ✓ Veterans

Sub-Topics Homeownership National Guard & Reserve Veteran Housing

in committee · New Jersey · General Assembly Jan 13, 2026

A 834: Creates home purchase grant program in HMFA for certain veterans who served in federal active duty; appropriates $2,000,000.

This bill creates a $2 million home purchase grant program for New Jersey veterans who served at least 90 days in federal active duty. It directly affects eligible veterans meeting three criteria: NJ residency, intent to buy a NJ primary residence, and proof of qualifying military service. The program provides up to $10,000 in matching grants (dollar-for-dollar) to cover closing costs, equity payments, or other home purchase expenses, with no income requirements. Veterans may also receive priority if eligible for other state homebuyer programs. The program is administered by the agency in coordination with the Department of Military and Veterans Affairs.

Topics ✓ Housing ✓ Veterans

Sub-Topics Homeownership Veteran Housing

in committee · New Jersey · General Assembly Feb 19, 2026

A 4289: Provides defendant option to disclose disability status in foreclosure proceedings.

This bill allows homeowners facing foreclosure on their primary residence to voluntarily disclose a disability and submit a physician's statement confirming the disability and its impact. It requires the court to provide this option when homeowners file their answer to a foreclosure complaint and the required case information statement. The policy change specifically applies to owner-occupied residential mortgage cases, giving disabled homeowners a formal way to request court consideration of their condition during foreclosure proceedings. This is a procedural adjustment to the foreclosure process, not a change to mortgage terms or protections.

Topics ✓ Housing

Sub-Topics Homeownership Mortgages

in committee · New Jersey · General Assembly Jan 13, 2026

A 1229: Provides municipality with affordable housing credit toward its municipal fair share housing obligation for funds transferred to the New Jersey Affordable Housing Trust Fund pursuant to P.L.2008, c.46.

This bill allows New Jersey municipalities to earn credits toward their state-mandated affordable housing requirement by transferring unspent development fees to the New Jersey Affordable Housing Trust Fund. Specifically, if a municipality fails to spend collected fees within four years, it must transfer the remaining balance to the state fund and receives one credit per unit toward its housing obligation. The fees - collected from residential developers - must be used for approved affordability programs like down payment assistance, rent subsidies, or low-income unit affordability measures, with no more than 20% allocated to administration. It directly affects all New Jersey municipalities required to meet fair share housing goals under state law.

Topics ✓ Housing

Sub-Topics Affordable Housing Homeownership Housing Finance

in committee · New Jersey · General Assembly Jan 13, 2026

A 1483: Provides temporary gross income tax credit to first time home buyers and seniors.

This bill provides a temporary tax credit for New Jersey residents who are either first-time homebuyers (purchasing a home in 2019, 2020, or 2021) or seniors aged 65+ during the tax year. Eligible taxpayers receive a credit equal to 25% of their property taxes paid on their primary home, capped at $2,500 per year. The credit reduces income tax liability, and any unused portion is refunded directly to the taxpayer. The credit applies only for tax years 2019 through 2021, offering short-term relief for qualifying homeowners.

Topics ✓ Budget & Taxes ✓ Housing

Sub-Topics Income Tax Procurement Tax Credits Homeownership Property Taxes

in committee · New Jersey · Senate Jan 13, 2026

S 1830: "New Jersey Workforce Housing Partnership Act"; incentivizes homebuyer assistance to certain employees, provides tax credits for development of certain workforce housing, and provides certain assistance and affordability protections for middle-income residents; appropriates $55 million.

The New Jersey Workforce Housing Partnership Act (S 1830) creates a state program to help middle-income workers - like teachers, first responders, and healthcare professionals - afford homes by incentivizing employers to provide homebuyer assistance. It provides $55 million for a Workforce Housing Assistance Program that matches employer down payment help and offers low-interest mortgages, while giving tax credits to businesses that develop affordable housing for employees. The bill also includes affordability protections ensuring housing remains accessible to residents earning up to 120% of the area median income and encourages municipalities to repurpose vacant commercial spaces into workforce housing through zoning flexibility.

Topics ✓ Budget & Taxes ✓ Housing ✓ Labor & Employment

Sub-Topics Affordable Housing Homeownership Property Development

in committee · New Jersey · Senate Jan 13, 2026

S 2666: Requires landlords to provide tenants with certain notice concerning conditions that may cause damage or hazards on rental property.

This bill requires landlords in New Jersey to notify tenants about potential damage or hazards from construction or work on adjacent properties. Landlords must provide tenants with written notices received from neighbors (like contractors or government entities) within five business days, or before starting work that could create hazards. The notice can be delivered by mail, posting, or email, and landlords who fail to comply face penalties of up to $200 per offense. It applies to most residential rentals (excluding small owner-occupied properties and hotels) but does not cover seasonal rentals under 125 days.

Topics ✓ Housing

Sub-Topics Homeownership Landlords Tenant Rights

in committee · New Jersey · Senate Jan 13, 2026

S 391: Revises "Homelessness Prevention Program"; requires new charge for filing of eviction action.

This bill revises New Jersey's Homelessness Prevention Program to add a new requirement: landlords must pay a fee when filing eviction cases related to unpaid rent. It sets strict eligibility rules for assistance, requiring applicants to be New Jersey residents facing imminent homelessness due to eviction, foreclosure, or inability to pay rent/mortgage, with income capped at 80% of area median income. The program prioritizes vulnerable groups like seniors (62+), people with disabilities, domestic violence survivors, and families with children facing separation. Assistance for mortgage issues must be for owner-occupied homes owned for at least one year, and applicants must exhaust other financial resources before qualifying. The bill does not change existing program funding but establishes new administrative criteria for aid distribution.

Topics ✓ Housing

Sub-Topics Homelessness Homeownership Tenant Rights

in committee · New Jersey · Senate Feb 5, 2026

S 1756: Establishes New Jersey First-Time Home Buyer Savings Account Program; provides gross income tax benefits for certain contributions to and earnings on assets maintained in accounts established under program.

This bill creates a New Jersey program that allows certified first-time home buyers to open special savings accounts at participating banks or credit unions. Account holders can contribute up to $15,000 per year (with a lifetime limit of $75,000) and earn tax-free growth on those funds, with the account balance capped at $150,000 annually. Funds can only be withdrawn to cover down payments and closing costs for a primary residence purchase, and withdrawals for other purposes require tax reporting. The program is administered by the New Jersey Housing and Mortgage Finance Agency to encourage home ownership through tax-advantaged savings.

Topics ✓ Budget & Taxes ✓ Housing

Sub-Topics Income Tax Homeownership Housing Finance Mortgages

All housing bills