The City of Newark and Township of Irvington both offer First‑Time Homebuyer Programs designed to help buyers with down payment or closing cost assistance when purchasing their first home. Eligible applicants may receive between $10,000 and $20,000 depending on qualification.
If you meet the required criteria, you could be well on your way to purchasing a new home in Newark, NJ or Irvington, NJ.
To apply, download the application and submit it directly to the appropriate City Hall:
- Irvington requires your application to be fully completed before you begin searching for a home.
- Newark requires your application after you have a signed Contract of Sale.
Your First Steps to Home Ownership
Get Pre-Approved
Start with a pre-approval to understand your budget and show sellers you're serious
Contact a lender to review your finances and get a pre-approval letter. This typically takes 1-3 days and helps you shop with confidence
Define your needs
Create a wish list of must-haves vs. nice-to-haves for your future home.
Consider location, size, amenities, and proximity to work/schools. This helps narrow your search and saves time.
Start house hunting
Begin touring homes that match your criteria and budget.
Work with your agent to schedule viewings. Take notes and photos to help remember each property.
Make an offer
Found the one? Your agent will help you submit a competitive offer.
Your offer should include price, closing date, and any contingencies. Your agent will negotiate on your behalf.
Home inspection
Hire a professional inspector to check for any issues with the property.
This protects you from unexpected problems. Most issues can be negotiated with the seller.
Close your home
Sign the final paperwork and get your keys!
Bring a cashier's check for closing costs, review all documents, and celebrate your new home!
Understanding Real Estate Terms
Amortization
The process of paying off a debt over time through regular payments. Part of each payment goes toward the loan principal and part goes toward interest.
Closing Costs
Expenses over and above the price of the property in a real estate transaction, including attorney fees, title insurance, appraisal, and more.
Equity
The difference between how much your home is worth and how much you still owe on your mortgage. It's the portion of your home that you truly 'own.'
FHA Loan
A mortgage loan insured by the Federal Housing Administration, designed to help first-time and low-to-moderate income buyers with lower down payment requirements.
Frequently Asked Questions
Get answers to common questions about the home buying process
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Ready to start your journey?
Get in touch today for a free consultation. We're here to answer your questions and guide you every step of the way.
The data relating to the real estate for sale on this website comes in part from the Internet Data Exchange Program of NJMLS. Real estate listings held by brokerage firms other than Coldwell Banker Realty are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc (c) 2023 New Jersey Multiple Listing Service, Inc. All rights reserved.
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