Burlington Review

The Burlington County Commissioners have provided additional support to residents aspiring to become homeowners. Last month, the Commissioners approved $25,000 in assistance for four buyers under the County’s first-time homebuyers program. This aid will be allocated for down payments, closing costs, and interest reduction.

The homes being purchased are located in Edgewater Park, Burlington City, Bordentown Township, and Evesham. Since 2023, sixty-one homebuyers have received assistance from this program, including 36 since the Commissioners implemented changes last summer to better align with market conditions and the needs of low- and moderate-income families.

“We want residents of all incomes and backgrounds to be able to live safely and securely in our county and benefit from our outstanding communities, schools, job opportunities and quality of life,” said Burlington County Commissioner Director Felicia Hopson. “The first-time homebuyer program makes home ownership obtainable for many young adults and working families. Assisting them allows an entirely new generation of residents access to the economic benefits of homeownership while also keeping our local communities diverse, vibrant and strong.”

The Burlington County First-Time Homebuyer Program is federally funded and managed by the Housing and Community Development Division of the Burlington County Department of Human Services. It offers no-interest forgivable loans for down payments, closing costs or interest rate reductions.

Last year’s revamp increased available assistance to a maximum of $15,000 for down payment help (up from $5,000) and a maximum of $10,000 for closing costs or interest reduction (up from $4,000). Eligibility is limited to individuals or families earning no more than 80% of the median family income within Burlington County. This ranges from $64,250 for a single person up to $121,150 for a family of eight. Additionally, the purchase price must not exceed $385,000.

Loans will be forgiven after ten years but must be repaid if sold before then or if the recipient ceases residency within that period—a change from previous requirements mandating repayment upon any sale.

“The changes were a response to market conditions and were designed to ensure that hardworking families are not shut out of any of our local communities,” said Hopson. “In less than a year we’ve already helped dozens of families buy homes here including many young adults who might otherwise had to look outside of Burlington County.”

State Senator Troy Singleton praised these efforts: “Owning a home is an integral part of the American Dream and it is encouraging to witness Burlington County’s success helping dozens of hardworking residents achieve that dream and be able to build generational wealth.”

Residents seeking applications or more information about the First-Time Homebuyer Program can contact the Division at 609-265-5450 or visit https://www.co.burlington.nj.us/257/Community-Development-Housing.