DCA & HMFA Welcome Evesham to Live Where You Work Homebuyer Program
For Immediate Release:
January 20, 2009
Evesham Is 8th Municipality to Partner with Agencies on Program
“Live Where You Work is a key component in meeting Governor Corzine’s goal of assisting hard-working New Jersey residents who wish to live the American Dream of owning their own home,” said Commissioner Doria. “I thank Mayor Brown and Evesham for their commitment and dedication to working with us and we 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 the New Jersey Housing and Mortgage Finance Agency (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 makes so much sense in today’s market and economy. Evesham has always been a fantastic place to buy a home,” said HMFA Executive Director Marge Della Vecchia. “Now, Live Where You Work makes it even more affordable and compelling. It is a way to save money, cut down on commuting time, develop a closer connection to the town, and get an affordable and reliable mortgage. It is the perfect mix!”
As a result of this partnership, people working in Evesham 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 and Morristown are all taking part in the program.
“Evesham Township is a thriving community that serves as a model in New Jersey by fostering partnerships with its residents and businesses,” said Mayor Brown. “Evesham prides itself in maintaining a sense of community while striving to provide the highest level of programs and services. With outstanding schools and recreational facilities it is also a great place to raise a family.”
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 visit the Live Where You Work website at www.livewhereyouwork.nj.gov.