New Jersey homebuyer resources, straight from the source
When a program figure matters, go to the agency that sets it. This page collects the official New Jersey pages Mike sends buyers to most: NJHMFA for program rules, DOBI for lender licensing, the NJ Division of Taxation for the realty transfer fee, FHFA for loan limits, and your county clerk for deed recording.
Where do the official New Jersey links live?
Everything on the guide pages here traces back to a primary source. Here is the short list, with what each one settles. Bookmark the two you will lean on most: NJHMFA for anything program-related and the NJ Division of Taxation for the transfer fee and mansion tax.
| Resource | What it settles | Go to |
|---|---|---|
| NJHMFA | Program rules, county income and price limits | nj.gov/dca/hmfa |
| NJ Dept. of Banking and Insurance (DOBI) | Lender licensing, consumer complaints | nj.gov/dobi |
| NJ Division of Taxation | Realty transfer fee, mansion tax | nj.gov Realty Transfer Fee |
| NMLS Consumer Access | Verify a loan officer or company | nmlsconsumeraccess.org |
| FHFA | 2026 conforming loan limits by county | fhfa.gov |
| County Clerk | Deed recording, transfer fee collection | Your county office |
Where can I read NJHMFA's official program rules?
NJHMFA, the New Jersey Housing and Mortgage Finance Agency, is the state body behind the Down Payment Assistance, the First-Generation DPA, the First-Time Homebuyer Mortgage, and the PFRS program for police and firefighters. Everything lives at nj.gov/dca/hmfa, and the county income and purchase-price limits sit alongside each program. When a number here and a number on NJHMFA disagree, NJHMFA is right. One thing not to look for there: an MCC. NJHMFA does not currently offer a Mortgage Credit Certificate.
Who regulates New Jersey mortgage lenders?
The New Jersey Department of Banking and Insurance, DOBI for short, licenses lenders and loan originators under the New Jersey Residential Mortgage Lending Act at N.J.S.A. 17:11C-51, and it handles consumer complaints. Reach it at nj.gov/dobi. For a quick identity check on the person you are working with, look them up on NMLS Consumer Access by name or license number. Mike Certo is NMLS #260555 and Cornerstone First Mortgage is NMLS #173855.
Where are the 2026 New Jersey loan limits published?
The Federal Housing Finance Agency sets conforming loan limits each year, posted at fhfa.gov. For 2026 the one-unit baseline is $832,750 across most of New Jersey, and twelve high-cost counties reach $1,209,750. Watch this detail: in those twelve counties the FHA ceiling of $1,249,125 actually sits above the conforming limit, so FHA lends more than a conforming loan at the same address. A loan above your county's number is a jumbo. The programs page covers how jumbo underwriting differs.
Who pays the New Jersey realty transfer fee?
The seller pays it, and it graduates with the sale price rather than sitting at one flat rate. The exact per-$500 rate depends on the price band and on whether the sale qualifies for a senior, disabled, or low-and-moderate-income partial exemption, so it is not a single figure. The NJ Division of Taxation publishes the current standard and exemption schedules. The county clerk records the deed and collects the fee. Confirm the current schedule at the NJ Division of Taxation. The transfer fee and closing costs page works the math on a real price.
What changed with the New Jersey mansion tax in 2025?
A lot, and it caught many buyers off guard. For contracts signed on or after July 10, 2025, New Jersey scrapped the old flat 1% buyer-paid fee on homes over $1 million and put a seller-paid graduated fee in its place. The new fee runs 1% from $1 million to $2 million, 2% from $2 million to $2.5 million, 2.5% from $2.5 million to $3 million, 3% from $3 million to $3.5 million, and 3.5% above $3.5 million, applied to the whole price. The person who pays flipped from buyer to seller. If you read older guidance saying the buyer owes 1% over $1 million, it is out of date. Verify at the NJ Division of Taxation.
Do I need a homebuyer education course in New Jersey?
For NJHMFA loans that use down payment assistance, yes. The agency asks buyers to complete homebuyer education, usually online or through an approved counseling agency. The class walks through budgeting, the closing process, and staying current after you move in. Even where it is not required, it is worth a few hours of your time for a first purchase. Ask Mike which approved provider lines up with your program, so the certificate counts.
New Jersey resources FAQ
Where can I read NJHMFA's official program rules?
NJHMFA, the New Jersey Housing and Mortgage Finance Agency, publishes its programs at nj.gov/dca/hmfa, including the Down Payment Assistance, the First-Generation DPA, the First-Time Homebuyer Mortgage, and the PFRS program for police and firefighters. County income and purchase-price limits live in the same place. Those pages are the source of record, so when a figure here and NJHMFA disagree, treat NJHMFA as correct and check the date.
Who regulates New Jersey mortgage lenders?
The New Jersey Department of Banking and Insurance, known as DOBI, licenses lenders and loan originators under the New Jersey Residential Mortgage Lending Act at N.J.S.A. 17:11C-51, and it handles consumer complaints. You can reach it at nj.gov/dobi. For a quick identity check, look the person up on NMLS Consumer Access by name or license number. Mike Certo is NMLS #260555 and Cornerstone First Mortgage is NMLS #173855.
Who pays the New Jersey realty transfer fee?
The seller pays New Jersey's realty transfer fee, which graduates with the sale price rather than sitting at one flat rate. On homes over $350,000 the marginal rate climbs in bands as the price rises. The county clerk records the deed and collects the fee. Confirm the current schedule at the NJ Division of Taxation, since the bands and any exemptions are set there.
Did the New Jersey mansion tax change in 2025?
Yes, and it is a big change. For contracts signed on or after July 10, 2025, New Jersey replaced the old flat 1% buyer-paid fee on homes over $1 million with a seller-paid graduated fee. It runs 1% from $1 million to $2 million and rises in steps to 3.5% above $3.5 million, applied to the entire price. Who pays flipped from buyer to seller. Most older web content still says the buyer pays 1%, which is now wrong.
Do I need a homebuyer education course in New Jersey?
For NJHMFA loans that use down payment assistance, yes. The agency asks buyers to complete homebuyer education, usually online or through an approved counseling agency. The class covers budgeting, the closing process, and staying current after you move in. Even where it is not required, it is worth a few hours for a first purchase. Ask Mike which approved provider lines up with your program so the certificate counts.