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Home > Community > Live Where You Work
The City of Elizabeth in partnership with the New Jersey Housing & Mortgage Finance Agency (NJHMFA) is pleased to offer the Elizabeth Live Where You Work Program. This program provides incentives for people who work in Elizabeth – to live in Elizabeth. This program is open to all professions in private business, non-profits and government agencies.
Increasing homeownership, enhancing affordable housing opportunities, encouraging the use of public transit and other forms of non-auto transportation for commuting to work and furthering Smart Growth principles all contribute to making Elizabeth a better place to work and live.
What is Live Where You Work Elizabeth?
It is a special home mortgage incentive program that provides low interest mortgage loans to people who work in Elizabeth and who are looking to purchase a home in Elizabeth. The goal of the program is to:
• Strengthen our neighborhoods and increase community involvement through homeownership;
• Attract individuals who work in Elizabeth to also live in Elizabeth;
• Develop positive relationships between Elizabeth and members of the local business and residential communities.
What are the benefits of the Live Where You Work Elizabeth Program?
• Low-interest mortgages for homebuyers
• More flexible underwriting criteria for the loan qualification process
• Downpayment and closing cost assistance of up to 5% of the mortgage amount of a home located within a Smart Growth Area. This assistance does not have to be repaid if you live in the house for more than 7 years.
• To determine whether a home is on a Smart Growth Area, do to www.njlocator.gov. Choose HMFA Program Eligibility Tool and enter the property address.
Expanded benefits for Urban Target Area Buyers
• Homebuyers do not have to be first time homebuyers
• Expanded maximum income limits and purchase price limits (see below)
Maximum Income Limit
Location |
1-2 Person Household |
3+ Person Household |
City Wide |
84,400 |
97,060 |
Urban Target Area |
101,280 |
118,160 |
Maximum Purchase Price Limits
Location |
New 1 family and Condo’s |
New 2 Family |
Existing 1 Family |
Existing 2 Family |
Existing 3 Family |
Existing 4 Family |
City Wide |
429,619 |
- |
429,619 |
550,005 |
664,828 |
826,218 |
Target Area |
525,090 |
672,228 |
525,090 |
672,228 |
812,568 |
1,009,823 |
Urban Target Areas (UTAs) in Elizabeth
Parts of the following Elizabeth neighborhoods are eligible for Urban Target Area benefits:
Elizabethport
New Point Road
Midtown
Keighry Head
View Live Where You Work Brochure
View Streets List
View Lender List
View Map of target neighborhoods
www.livewhereyouwork.nj.gov
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