Free Money

If you are a first time home buyer with moderate to low income, there are "free" money programs that you may qualify for.  The money can be used to help pay for closing costs and part of your down payment. In 2014, qualified applicants can get as much as $7000 in Mercer County and as much as $9000 in Burlington County.

What's the catch you say?

You must meet the income guidelines set by the county, the home you are purchasing must become your primary residence, and you must live in the home for a specified period of time or you will need to pay back the money.  More information on the programs & eligibility requirements can be found here for Burlington County and Mercer County.

I've worked with buyers who have successfully used these programs, and they can be tremendously helpful. It can take some time, but for those who qualify it can be a great tool towards home ownership.