Atlantic County Improvement Authority Projects
The Atlantic County Improvement Authority

Atlantic City Down Payment Assistance Program

Frequently Asked Questions

Who is eligible?
Anyone who meets all the program guidelines set forth by the Atlantic County Improvement Authority.

Do I have to live in Atlantic City to qualify?
No, but you must have resided in Atlantic County for the previous 12 months or are employed in Atlantic City.

Could I own another home?
Not you or anyone in your household could have owned a home for at least the past 2 years.

What are the income guidelines?
Depending on the number of household members, combined members income must fall between $36,500.00 and $100,000.00.

What kind of property can I purchase?
Single family properties including townhouses and condominiums located within Atlantic City, New Jersey.

What is the maximum purchase price?
The sales price of the property cannot exceed $350,000.00.

Must I live in the property or can I rent it out?
The property must be occupied as your primary residence and cannot be purchased or used as a rental property.

How much down payment assistance can you provide?
The Program can provide up to 10% of the purchase price.

Do you provide help with closing cost?
Yes, the Program can assist with up to $5000.00 toward eligible closing cost.

Is there a maximum limit to the amount of assistance?
Yes, the Program can provide up to $30,000.00 toward down payment and closing cost assistance.

Do I have to make monthly payments on this loan?
No, the assistance will be recorded as a deferred loan and paid back when you sell or refinance the property.

What mortgage lender can I use to apply for this program?
You must use a NJ HMFA approved lender.

Return to Program Page

Open Public Record Act Form in PDF format - will open in a new window.

1333 Atlantic Avenue
Suite 700

Atlantic City,NJ 08401

609-343-2188 (Fax)