Program Participants:

The Atlantic County Improvement Authority (ACIA), Home Buyers and Lenders utilizing approved Mortgage programs.  The ACIA reserves the right to reject mortgages that contain terms and/or conditions that conflict with the goals of the program.

Program Objective:

To increase home ownership opportunities in Atlantic County by overcoming the obstacles created by the down payment and closing cost requirements faced by low/moderate income families when purchasing a home.  

Eligible Applicants:


  1. Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
  2. Who have not owned a home for the last  three years.
  3. With acceptable credit history and the ability to obtain an approved mortgage.
  4. With incomes below 80% of Median income:

These income levels are (2015):

                                                           # of Household  Members80% of Median Income
1 Person. $37,600
2 Persons $43,000
3 Persons $48,350
4 Persons $53,700
5 Persons $58,000
6 Persons $62,300
7 Persons $66,600
8 Persons $70,900

Eligible Properties:

  1. Single Family Residences located in Atlantic County excluding Atlantic City.
  2. Sale Price cannot exceed $200,000.00
  3. Property must meet all requirements for an approved mortgage.

Program Financing:

  1. The Program will provide funds determined to be necessary to bridge the gap between the amount of down payment & closing costs required by the approved mortgage, and the amount the home buyer has available UP TO $10,000.00.
  2. All funds from this program are forgivable, non-amortizing deferred payment loans subordinate to the first mortgage of the lender. These loans will be forgiven after five (5) years. Prior to that, these loans will be due and payable upon the sale, transfer of title or leasing of the property, or any refinancing of the first mortgage.

Program Procedure:

  1. All applicants will be pre-screened by participating lenders for a mortgage pre-approval and good faith estimate of amount of assistance needed.
  2. Applicants must obtain the pre-approval letter and good faith estimate from a lending institution that is approved by the State of New Jersey. Go to to see this list
          or you may click on the following link:
           Approved Lender List for Program Participation can be found on the New Jersery Housing and Mortgage Finance Agency website.
  3. The bank/mortgage company representative contacts ACIA to provide the information.
  4. Potential recipients will be contacted by ACIA to fill out the application.
  5. If approved a certification will be issued for our program.
  6. At this point, applicant must be under contract of sale for an eligible property.
  7. The applicant will then return to the lender to complete the necessary steps for the mortgage and final determination of the amount of assistance needed according to the program limits and the HUD-1 settlement sheet to be prepared by the Lender/ Title Company.
  8. The applicant completes the Homebuyer Counseling program prior to settlement.
  9. Funds disbursed accordingly at settlement.

Program Requirements:

Applicants must complete a HUD approved home buyers counseling and education program approved by the Atlantic County Improvement Authority, through either: 

Money Management International               1.888.845.5669
Consumer Credit Counseling

Consumer Credit & Budget Counseling       1.888.738.8233

Clarifi                                                      1.800.989.2227
Consumer Credit Counseling


Federal Housing Quality Standards (HQS):

It is a requirement of this program that an inspection be performed on all housing units acquired with these funds to ensure that they meet all Federal Housing Quality Standards (HQS).  Any findings are to be corrected, re-inspected and certified prior to settlement.

Learn More About the Atlantic County Home Buyer Program:

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