DCA & HMFA Welcome Keyport to Live Where You Work Homebuyer Program
For Immediate Release:
July 21, 2009
Contact:
Chris Donnelly
(609) 292-6055
Keyport Is 16th Municipality to Partner with Agencies on Program
鈥淟ive Where You Work is a key component in maintaining the vitality of our communities, as well as assisting those hardworking residents who are seeking聽homeownership opportunities,鈥 said Commissioner Doria. 鈥淚 thank Mayor Bergen and the Borough of Keyport for their commitment and dedication to working with us and I encourage more municipalities to join the program.鈥
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聽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鈥檚 efforts to revitalize and build sustainable communities that will provide a greener environment, access to transportation and affordable housing opportunities for residents.
鈥淭his is a program that makes so much sense in today鈥檚 market and economy,鈥 said HMFA Executive Director Marge Della Vecchia. 鈥淟iving close to work cuts down on commuting time and is a way to save money and develop a closer connection to the community. Add to that an affordable and reliable mortgage and Live Where You Work is the perfect mix.鈥
As a result of the borough鈥檚 partnership with the HMFA, people working in Keyport who are interested in buying a home in the borough will be able to take advantage of 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, Evesham, Neptune Township, Bayonne, Carteret, New Brunswick, Paterson, Glassboro and Orange are all taking part in the program.
鈥淜eyport continues to be a welcoming place to live and work.聽It is a place of comfort and familiarity, where people in search of a more relaxing lifestyle decide to set roots,鈥 said Mayor Bergen.聽鈥淭he Live Where You Work program complements our existing quality of life improvement efforts.聽It also promotes our commitment to the principles of Smart Growth and offers housing opportunities in a way that keeps our small-town character and charm. Our entire staff here in the Pearl of the Bayshore is enthusiastically ready to help people take advantage of our combined housing and employment opportunities.鈥
To learn about how to get a Live Where You Work mortgage, please call 1-800-NJHOUSE.聽For more information about how municipalities can聽join Live Where You Work, please call 609-278-7478.聽Or, you can visit the Live Where You Work website at聽.