Feb-10-09 DCA & HMFA Welcome Neptune Township to Live Where You Work Homebuyer Program
DCA & HMFA Welcome Neptune Township to Live Where You Work Homebuyer Program
NEPTUNE TOWNSHIP - Neptune Township Mayor Michael Brantley today joined Department of Community Affairs (DCA) Commissioner Joseph Doria and Housing and Mortgage Finance Agency (HMFA) Executive Director Marge Della Vecchia at the Township Senior Center at 1825 Corlies Avenue to announce that Neptune Township is the newest member of the Live Where You Work Program. The township is the 9th municipality to partner with HMFA on the program.
"Live Where You Work will assist those hard working New Jersey residents who are seeking homeownership opportunities and is a key component in Governor Corzine's efforts to maintain the vitality of our communities," said Commissioner Doria. "I thank Mayor Brantley and Neptune Township for their commitment to the residents of this township and I encourage more municipalities to join the program."
The Live Where You Work Program is a workforce housing initiative that provides low-interest, fixed rate mortgage loans to homebuyers purchasing homes in towns where they are employed. Other benefits include down payment and closing cost assistance for the purchase of a home within Smart Growth Areas and flexible underwriting criteria for the loan qualification process. Homes must be located in a municipality that has become a Live Where You Work partner with HMFA. The Live Where You Work initiative further enhances Governor Corzine's efforts to revitalize and build sustainable communities that will provide a greener environment, access to alternative transportation and affordable housing opportunities for residents.
"This is a program that really makes sense for Neptune Township," said HMFA Executive Director Marge Della Vecchia. "When workers and families live in the towns in which they work, their commitment to the community grows. We are pleased to partner with Mayor Brantley in this program."
As a result of this partnership, people working in Neptune Township who are interested in buying a home in the town will be able to take advantage of the Live Where You Work program incentives. Live Where You Work is administered by the HMFA, a DCA affiliate. Trenton, Jersey City, Woodbridge, Elizabeth, Atlantic City, Rahway, Morristown and Evesham are all taking part in the program.
"The Live Where You Work Program is an integral part of Neptune Township's vision in helping to provide affordable housing for working families," said Mayor Brantley. "We want those who service our community such as teachers and public safety officials as well as those that work with our business partners to be able to take full advantage of what it means to be a Neptune resident."
To learn about how to get a Live Where You Work mortgage, please call 1-800-NJHOUSE. For more information about how municipalities can join Live Where You Work, please call 609-278-7478. Or, you can visit the Live Where You Work website at www.livewhereyouwork.nj.gov.