Aug-24-2009 DCA & HMFA Welcome Washington Township to Live Where You Work Homebuyer Program
DCA & HMFA Welcome Washington Township to Live Where You Work Homebuyer Program
WASHINGTON TWP. - Washington Township Mayor Matthew Lyons today joined New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Marge Della Vecchia at the Township Municipal Building, 523 Egg Harbor Road, to announce that Washington Township (Gloucester County) is the newest member of the Live Where You Work Program. Washington Township is the 18th municipality to partner with the HMFA on the program.
"As Gloucester County's largest municipality, Washington Township is a perfect addition to the Live Where You Work Program," said HMFA Executive Director Marge Della Vecchia. "With its wonderful neighborhoods and many employment centers located here, Live Where You Work presents a real opportunity for local residents to become homeowners in a time when we want to support homeownership."
The Live Where You Work Program is a workforce housing initiative that provides low-interest, fixed rate mortgage loans to homebuyers purchasing homes in towns where they are employed. Other benefits include down payment and closing cost assistance for the purchase of a home within Smart Growth Areas and flexible underwriting criteria for the loan qualification process. Homes must be located in a municipality that has become a Live Where You Work partner with HMFA. The Live Where You Work initiative further enhances Governor Corzine's efforts to revitalize and build sustainable communities that will provide a greener environment, access to transportation and affordable housing opportunities for residents.
As a result of the township's partnership with the HMFA, people working in Washington Township who are interested in buying a home in the community will be able to take advantage of Live Where You Work program incentives. Live Where You Work is administered by the HMFA, a Department of Community Affairs affiliate. Trenton, Jersey City, Woodbridge, Elizabeth, Atlantic City, Rahway, Morristown, Evesham, Neptune Township, Bayonne, Carteret, New Brunswick, Paterson, Glassboro, Orange, Keyport, and Newark are all taking part in the program.
"We are so pleased that we have the opportunity to work with the HMFA and DCA to offer this new program to the people of Washington Township," said Mayor Lyons. "As the Township's employment opportunities continue to grow, we hope that the people who are working here decide to stay and new employees see the benefits that our town has to offer and become a part of our community."
To learn about how to get a Live Where You Work mortgage, please call 1-800-NJHOUSE. For more information about how municipalities can join Live Where You Work, please call 609-278-7478. Or, you can visit the Live Where You Work website at www.livewhereyouwork.nj.gov.