Living Here

Overview

Newark residents and those looking to relocate to our city can enjoy exciting amenities related to our location and access, diverse culture and diverse housing options. The municipal government also manages programs to provide incentives for first-time home buyers and those who live and work within the city.

Key City of Newark housing incentives include:

American Dream Down-payment Initiative (A.D.D.I.)

The “American Dream Down-Payment Initiative” (ADDI) assists first-time home buyers with the upfront cost of acquiring a new home within Newark, NJ. Sponsored by the U.S. Department of Housing and Urban Development, ADDI seeks to increase the overall home ownership rate with a particular focus on low and moderate income households.

Live Where You Work (LWYW)

"Live Where You Work” (LWYW) is a home buyer incentive program that provides low-interest mortgage loans to homebuyers who work in the City of Newark and are looking to purchase a home in the City. The goal of the LWYW program is to promote home ownership and build stronger communities, while encouraging residents and employees to live closer to their jobs. The program provides down payment and closing cost assistance of up to 5% of the mortgage amount of the home and more flexible underwriting criteria for the loan qualification process. The funds provided by LWYW do not need to be paid back as long as the buyer lives in the home for than 7 years. For residents living within the Urban Target Area in the City of Newark, there are expanded maximum income limits as well as property purchase price limits. More information, including income and purchase price limits, can be found online through the New Jersey Housing and Mortgage Finance Agency (HMFA) website on the LWYW program.

Newark Homeownership Cooperative

The Newark Homeownership Cooperative provides residents with information on available housing and home ownership opportunities. The Cooperative supports and educates renters seeking to maintain the value and affordability of their homes and provides technical assistance around municipal programs related to homeownership.

Program guidelines, income eligibility limits, and applications can be acquired from the Department of Economic and Housing Development, Division of Housing Assistance Office.