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American United Mortgage
Corporation is pleased to
participate with the State of
New Jersey and the New
Jersey Housing and Mortgage
Finance Agency (NJHMFA) by
offering the NJHMFA
reduced rate program
specifically for first-time home
buyers.
As an approved NJHMFA
lender, our clients gain access
to a reduced 30 year fixed rate
loan that will allow them to
soften their monthly mortgage
payment.
To see if you qualify, simply
complete at no obligation our
online
pre-approval application or
contact one of our First-Time
Buyer Specialists directly at
1-800-555-2035.
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Here are the
answers to the most
frequently asked
questions;
-
What is considered a
First-Time Buyer?
A first-time
buyer is someone who
has not owned a home
within the past
three years. There
are some exceptions
to this rule if you
happen to purchase a
home within certain
areas of New Jersey.
Contact us for
details.
-
Do you have to be
a resident of New
Jersey to apply?
No, but the property
you purchase must be
in New Jersey and
must be your primary
residence.
-
Are there income
restrictions for
this program?
Yes, federal law
requires that there
be a maximum income
limit set when
offering a reduced
rate program. In New
Jersey the limits
per county are;
|
MAXIMUM
INCOME
LIMITS -
STATEWIDE
AREA |
|
COUNTIES |
1-2 FAMILY
HOUSEHOLD |
3+ HOUSEHOLD |
EFFECTIVE |
|
Atlantic,
Burlington,
Camden, Cape
May,
Cumberland,
Gloucester,
Hudson, &
Salem |
$81,200 |
$93,380 |
3/8/06 |
|
Monmouth &
Ocean |
$81,900 |
$94,185 |
3/8/06 |
|
Mercer |
$85,400 |
$98,210 |
3/8/06 |
|
Essex,
Morris,
Sussex &
Union |
$84,400 |
$97,060 |
3/8/06 |
|
Warren |
$82,600 |
$94,990 |
3/8/06 |
|
Bergen &
Passaic |
$87,500 |
$100,625 |
3/8/06 |
|
Hunterdon,
Middlesex &
Somerset |
$95,800 |
$110170 |
3/8/06 |
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Can I obtain this
loan from any lender
in New Jersey?
No, only NJHMFA
approved lenders can
offer this program.
American United
Mortgage Corporation
is an NJHFMA
approved lender and
First-Time Home
Buyer specialist.
-
Is the interest
rate and cost for
this loan the same
for all lenders?
Yes, every approved
NJHMFA lender is
required to offer
the program at the
same rate and at the
same cost. Therefore
when selecting a
lender you should
choose one that
provides the best
service and has the
most experience with
this program.
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For over a decade, American
United has specialized in
helping those interested in
obtaining their first home.
Through home buying education
and
specialized programs like this
we have helped to dramatically
increase homeownership
throughout the northeast.
To determine if you qualify for
this or any first-time buyer
program, simply complete our
online
pre-approval or contact us
directly at 1-800-555-2035.
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