Qualified Applicants Eligible to Receive up to $50,000 to Purchase a Home through the Sandy Homebuyer Assistance Program

Members of the public, in low- and moderate- income households may be eligible to receive up to $50,000 in assistance to purchase a single-family home in Union County, as part of the Sandy Homebuyer Assistance Program (SHAP).  The assistance will be provided in the form of a subordinate mortgage that will be forgiven at a rate of 20% a year, to be forgiven in full on the 6th anniversary date of the loan.

“Not only does this program help stimulate the market for new and restored homes in our area,” said Freeholder Chairman Linda Carter, “But it is also a  great opportunity for anyone looking to become a homeowner.”

Rather than attempting to find rental units in increasingly expensive leasing markets, the SHAP program provides an increased opportunity and financial incentive for qualified applicants to purchase homes in the nine counties most severely impacted by Superstorm Sandy. The funds used for this program are part of a $25 million allocation of CDBG-DR (Community Development Block Grant – Disaster Recovery) funds that are expected to assist approximately 500 homebuyers.

To be eligible for the program, applicants must meet the following criteria:

  • Applicants must meet CDBG low and moderate income (“LMI”) guidelines (less than or equal to 80% AMI).
  • Applicants must have a minimum credit score of 620.
  • Applicants must qualify for a first mortgage to purchase the unit.Applicant cannot own other real estate.


The program is currently in a 90-day pilot phase where applicants must currently live and purchase a new home in one of the designated areas, however after the pilot phase is complete the program will be open to anyone purchasing a home within the nine counties.

For additional information on the program and its requirements please visit http://www.state.nj.us/dca/hmfa/homeownership/buyers/shap/.

Fact Sheet, Frequently Asked Questions and Project Overview