American Dream Downpayment Initiative Program (ADDI) in New Jersey

ADDI FUNDS PROGRAM down payment and closing cost assistance funds program
The Middlesex County Division of Housing, Community Development & Social Services will award $5,000 in down payment and closing cost assistance to income eligible first time homebuyers under the US Dept. of Housing and Urban Development (HUD) HOME Investment Partnerships Program.

The Following Are The Basic Program Requirements:

Applicant must be first time homebuyers and existing Middlesex County residents for a period of at least one year.
Applicants must complete an in person, one day group homebuyer training course offered by a HUD approved housing counseling agency. The class must be completed prior to closing.
Applicants are required to undergo budget review and individualized counseling as part of their application process. Appointments and application documents can only be obtained through either of the below HUD approved housing counseling agency:
Faith Fellowship Community Development Corp. - FFCDC at (732) 727-9500
Puerto Rican Action Board - Housing Coalition Unit – Phone (732) 249-9700
Applicants can only purchase a single family property. Eligible properties are detached homes, townhouses, condos, and co-ops. The purchase price of the property cannot exceed four times the certified income level of the household, with an overall maximum of $304,000.
Applicants must have a mortgage pre-approval issued within the past 2 months.
Applicant must purchase their single family housing in any Middlesex County municipality except New Brunswick and Perth Amboy (which are not in the HUD jurisdiction for this particular program.)
Total household income can not exceed the following limits:
- One-person $48,800
- Two-person $55,800
- Three-person $62,750
- Four-person $69,700
- Five-person $75,300
- Six-person $80,900
- Seven-person $86,450
- Eight-person $92,050
The property being purchased must pass HUD's Housing Quality Standards and must be certified free of lead based paint hazards if built prior to 1978.
Applicant must be putting down at least 1% of the purchase price from their own funds.
Any co-signers of the primary mortgage must also be occupiers of the property being purchased.
Assistance will be in the form of a deferred repayment mortgage, which doesn't require payment of principal or interest by the homebuyers provided they own and live in the property for five (5) years.

Please allow a minimum of 10 weeks from the time you submit your application and all supporting documents until closing, to ensure time for processing.

For additional information on the program, please contact Melissa Bellamy,
Middlesex County Division of Housing, Community Development & Social Services,
(732) 745-3025 or melissa.bellamy@co.middlesex.nj.us or by calling (732) 727-9500.