CHOICE

CHOICE

CHOICE is the HMFA's comprehensive financing program for the development of newly constructed and substantially rehabilitated homeownership (owner-occupied primary residence) housing in New Jersey. The program features below-market interest rate construction loans and construction subsidy funding for developers as well as favorable end loan financing for eligible homebuyers.

CHOICE is intended to be a catalyst for the creation of viable homeownership markets in municipalities where home values currently do not support a sustainable new construction housing market. CHOICE is also intended to assist with the creation of resale-restricted affordable homeownership housing in municipalities that have viable homeownership markets overall but have included affordable housing in their redevelopment area plans.

ATTENTION DEVELOPERS

At this time (April 2017) the HMFA is working on updating the CHOICE application process and 2017 CHOICE guidelines. Please continue to check our website for updated information. Contact Joyce Earley at 609-278-7550 should you have any further questions or require additional information regarding the program. Thank you for your support of the CHOICE program, and we look forward to your continued business with HMFA.