IMPORTANT NOTICE: ATTENTION DEVELOPERS!
|As of December 6, 2013, we are no longer accepting applications for the CHOICE 2013 Program. Please make an appointment to submit any pending applications prior to that date.
Information about a CHOICE 2014 Program will be posted on our website in January. Check the website periodically for any announcements. Thank you.
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.