Cornerstone First Mortgage · Mike Certo NMLS #260555

New Jersey home loans, from NJHMFA's $15,000 down payment help to Bergen and Hudson County jumbo lending.

New Jersey-licensed lending from the NYC-commuter counties to the Shore. Straight numbers on NJHMFA's down payment assistance, the mansion tax that flipped to the seller in 2025, the high-cost loan limits in Bergen and Hudson, and the high-balance financing an expensive state actually needs. A Cornerstone branch manager who works the file himself instead of handing it to a call center.

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New Jersey home-loan facts worth knowing

NJHMFA gives up to $15,000 in down payment assistance, and a first-generation buyer can add $7,000 more, for up to $22,000 (NJHMFA, verified Aug 2026). It is a 0% interest, five-year forgivable second, not a grant.
The mansion tax changed in 2025. The old flat 1% that the buyer paid on homes over $1 million is gone. Now the seller pays a graduated fee, from 1% at a million up to 3.5% above $3.5 million, on the whole price.
Twelve New Jersey counties are high-cost, so their 2026 conforming limit is $1,209,750 instead of the $832,750 baseline. That is where the North Jersey commuter markets sit.
In those high-cost counties, FHA actually reaches higher than conforming: the 2026 FHA limit is $1,249,125, about $39,000 above the conforming figure at the same address.
Most of New Jersey is not USDA-eligible. The zero-down USDA program works only in a few rural pockets like Salem and Sussex, so most buyers here lean on assistance plus FHA or conventional.

The New Jersey programs Mike runs

NJHMFA, the state housing and mortgage finance agency, anchors the first-time and assistance side. Around it sit the loan types an expensive state needs, including high-balance financing. Here is the menu.

NJHMFA Down Payment Assistance

Up to $15,000 toward down payment and closing, as a 0% five-year forgivable second with no monthly payment. Pairs with an NJHMFA first mortgage.

First-Generation DPA

An extra $7,000 for eligible first-generation buyers, on top of the base assistance, for a combined $22,000. Same 0% forgivable structure. NJHMFA defines who qualifies, so confirm your eligibility.

NJHMFA First-Time Mortgage

A 30-year fixed first mortgage, FHA, VA, or conventional, for first-time buyers. County income and price limits apply.

High-balance & jumbo

High-cost-county conforming up to $1,209,750, plus jumbo above that, for the North Jersey and Shore markets where prices run high.

FHA, VA & PFRS

FHA from 3.5% down (with the higher high-cost limits), VA at zero down for veterans, and the PFRS program for New Jersey police and firefighters.

Self-employed & investor

Bank-statement and 1099 loans for business owners, plus DSCR loans for rentals, including ratios below 1.0, and bridge financing.

The 2026 New Jersey Home Loan Guide
Every New Jersey loan type compared by credit and down payment. Free.

Why work with Mike

Most New Jersey buyers who search for NJHMFA help land on a national aggregator that sells the lead three times before anyone calls back. That is not us. Mike Certo is a branch manager with Cornerstone First Mortgage who works New Jersey files himself, and he will tell you straight which path fits: the NJHMFA assistance when you need help with the down payment, a high-balance conforming loan when your Bergen County price crosses the baseline, a plain conventional when NJHMFA adds nothing. He closes these across the NYC-commuter counties, the Shore, and the South Jersey suburbs, and he knows the parts that trip New Jersey buyers up, the seller-paid mansion tax, the high property taxes, and the gap between the FHA and conforming limits up north.

Complex files are the specialty

Self-employed income, jumbo with student debt, DSCR investor loans below a 1.0 ratio, buy-before-you-sell bridge financing, doctors still in residency. These are the files that stall at a call-center lender and close with Mike. If your situation has a wrinkle, that is the reason to call, not a reason to wait.

New Jersey home-loan FAQ

What down payment assistance does NJHMFA offer in New Jersey?

NJHMFA gives up to $15,000 toward your down payment and closing costs, and a first-generation buyer can add $7,000 more, for a combined maximum of $22,000. It is a 0% interest, five-year forgivable second loan with no monthly payment. Stay in the home five years and it is forgiven; sell, refinance, or move earlier and you repay it. It pairs with an NJHMFA first mortgage and a 620 credit score, though you should confirm current terms with NJHMFA.

Who pays the New Jersey mansion tax now?

The seller. As of contracts signed on or after July 10, 2025, New Jersey replaced the old flat 1% that the buyer paid on homes over $1 million. Now the seller pays a graduated fee on the whole price: 1% from $1 million to $2 million, rising in steps to 3.5% above $3.5 million. Older guides that say the buyer pays 1% are out of date.

Which New Jersey counties have a higher loan limit?

Twelve of them. Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, and Union are high-cost counties, so their 2026 conforming limit is $1,209,750 rather than the $832,750 baseline. In those counties FHA reaches even higher, to $1,249,125, so an FHA loan can exceed the conforming limit at the same address.

Does USDA work in New Jersey?

Only in a few places. New Jersey is dense, so most of the state is not USDA-eligible. The zero-down program works in limited rural pockets such as parts of Salem, Cumberland, Sussex, and Warren counties. For most New Jersey buyers the better path is NJHMFA assistance paired with an FHA or conventional loan. Check a specific address on USDA's eligibility map.

What is the fastest way to find out if you can help me?

Call (480) 296-6513 and ask for Mike, or send your scenario through the contact form. Our team calls you back shortly. Pre-approval typically takes 24 to 48 hours once your credit and income documents are in.