The LWYW program is a home mortgage incentive program that provides low-interest mortgage loans to homebuyers purchasing homes in towns where they are employed. The goal of LWYW is to build stronger communities by promoting homeownership and encouraging people to live closer to their jobs. This, in turn, will reduce the need for cars and increase the use of alternative transportation such as walking, biking and public transit.
If you would like to buy a house in the town where you currently work, then LWYW might be right for you. Employees benefit from attractive mortgage rates, more flexible loan application review and underwriting criteria, and reduced commuting times to work. Municipalities benefit from having a committed workforce living nearby, and the activity and economic vibrancy that comes with people living near where they work.
Eligible Properties: Properties must be located in a participating Live
Where You Work municipality. Eligible properties include one-family units, including condominiums, (new and existing), and existing 2- to 4-family unit properties that are more than 5 years old. Some Live Where You Work municipalities include *Urban Target Areas (UTA). In Urban Target Areas eligible properties can also include new two-unit residential dwellings. Properties must be located in State designated Smart Growth locations.
(*) Urban Target Areas (UTA) are based upon census data. Therefore, in order to find out if an address is located in a UTA, you will need to identify the census tract within which the address is located.
To determine if your proposed home is within an Urban Target Area (UTA), visit the Site Evaluator and follow the instructions for "How do you find out if you are in an Urban Target Area?"
Or, you can download and reference our Urban Target Area list. (61kb PDF)
Further detail is available on our Fact Sheet (277kb PDF) or call 1-800-NJ-HOUSE.
