New Jersey Housing and Mortgage Finance Agency

What New Jersey Housing and Mortgage Finance Agency does

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is a state-chartered housing finance agency operating under the New Jersey Department of Community Affairs, headquartered in Trenton, New Jersey. Founded in 1984 and employing 101–250 people, NJHMFA administers federal and state housing programs designed to expand affordable housing supply and homeownership access across New Jersey. The agency's core functions span three domains: homebuyer assistance (Down Payment Assistance Program and First Generation Down Payment Assistance Program, each offering up to $22,000; Emergency Rescue Mortgage Assistance up to $75,000), developer financing (LIHTC administration, Multifamily Lending Programs, Supportive Housing Programs, Conduit Program for tax-exempt bonds, UNIAP integration, and State Tax Credit Auctions), and platform services (Lender Portal/ILRS, Housing Resource Center, and LIHTC Compliance Portals).

NJHMFA's revenue model is not commercially conventional — the agency operates through state appropriations, administrative fees on bond issuances, and tax credit allocation revenues rather than traditional product sales. Its go-to-market is hybrid: direct online channels for individual homebuyers and renters, a statewide network of approved lender partners originating homebuyer loans, and enterprise relationships with multifamily developers, supportive housing providers, and property managers. The agency also coordinates with federal partners (HUD, USDA) and state economic development entities (NJEDA) to stack capital sources for large affordable housing transactions.

Notable program scope includes a $100 million State Tax Credit Auction announced in February 2026, $49 million in LIHTC allocations supporting major projects such as the $130 million renovation of The Encore in Camden (321 units), and partnerships with financial institutions including Citizens Bank, J.P. Morgan, Cinnaire, and CVS Health. The agency's competitive position rests on its statutory monopoly over state LIHTC administration and tax-exempt bond issuance, supported by three decades of institutional credibility and a diversified distribution network spanning every New Jersey county.

Name

New Jersey Housing and Mortgage Finance Agency

Legal name

New Jersey Housing and Mortgage Finance Agency

Website

https://njhousing.gov

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

101–250 employees

Short description

New Jersey Housing and Mortgage Finance Agency (NJHMFA) is a state-chartered housing finance agency under the NJ Department of Community Affairs that administers LIHTC, tax-exempt bonds, and down payment assistance to expand affordable housing and homeownership across New Jersey.

Ownership category

akta.pro rank

Product category

Government Housing Finance

NAICS

Administration of Housing Programs (925110), Administration of Housing Programs (92511), Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Loan Brokers (6163)

akta.pro primary industry

Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF)

akta.pro secondary industries

National Housing Finance Agencies & Ministries (FSALAKAB), Loss Mitigation & Home Retention Servicing (Modifications/Forbearance/Repayment Plans) (FSALAEAG)

Keywords

• Affordable housing finance
• Mortgage assistance programs
• Low income housing tax credits
• Multifamily development lending
• Government housing agency

Headquarters

HQ city

Trenton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Tax Credit Administration: NJHMFA administers Low-Income Housing Tax Credits (LIHTC) for the State of New Jersey, providing tax credit equity to affordable housing developers. The agency also conducts State Tax Credit auctions to support affordable and workforce housing production.
2. Multifamily Lending Programs: Provides construction loans, permanent financing, and tax-exempt bonds for multifamily affordable housing development through its Conduit Program and direct lending.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

New Jersey Housing and Mortgage Finance Agency is a state government housing finance agency that administers affordable housing financing programs for the State of New Jersey. Its core offerings include down payment and closing cost assistance for individual homebuyers (up to $22,000), emergency mortgage rescue assistance for distressed homeowners (up to $75,000), Low-Income Housing Tax Credit (LIHTC) allocation and compliance oversight, multifamily construction and permanent lending, tax-exempt bond financing through its Conduit Program, supportive housing funding, a State Tax Credit Auction, foreclosure prevention counseling, and an Affordable Housing Insurance Pilot Program for property managers.

Product overview

New Jersey Housing and Mortgage Finance Agency (NJHMFA) operates as a state-level housing finance agency offering a comprehensive suite of programs organized around three core functions: homebuyer assistance (Down Payment Assistance up to $22,000, First Generation Homebuyer Program, ERMA up to $75,000), developer financing (LIHTC administration, Multifamily Programs, Supportive Housing, UNIAP, Conduit Program, State Tax Credit Auction, Affordable Housing Insurance Pilot Program), and platform services (Lender Portal/ILRS, Housing Resource Center, LIHTC Compliance Portals). The agency functions as a platform administering federal and state housing programs rather than a single product.

Differentiator

Problem solved

Functional benefit

Products and services

• Down Payment Assistance Program
• First Generation Down Payment Assistance Program
• Emergency Rescue Mortgage Assistance (ERMA)
• Low Income Housing Tax Credits (LIHTC)
• Multifamily Programs
• Supportive Housing Programs
• State Tax Credit Auction
• Conduit Program (Tax-Exempt Bond Financing)
• Affordable Housing Insurance Pilot Program (AHIP)
• Foreclosure Prevention Services
• Lender Portal (Integrated Lending Regulatory System)
• Housing Resource Center
• LIHTC Compliance Portals

Quantifiable outcome

• 321 affordable housing units preserved long-term through 20-year Section 8 HAP contract and 30-year LIHTC compliance period
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• NJEDA (New Jersey Economic Development Authority)coreStrategic or Co-development Partner · 1 August 2025NJEDA administered the Aspire tax credit program leveraged in the $130 million renovation of The Encore affordable housing tower. NJHMFA and NJEDA collaborate on state-level economic development and affordable housing initiatives.
• Diocese of CamdencoreStrategic or Co-development PartnerPartnered with CVS Health and The Walters Group on The Mews at St. Mary senior housing project. The Diocese provides property and collaborates on providing health and social services to senior residents.
• The Walters GroupcoreImplementation/ SI/ Consulting PartnerDeveloper partner for The Mews at St. Mary senior affordable housing project. The Walters Group is a real estate development firm constructing the 75-unit project with NJHMFA financing.
• Community Investment StrategiescoreImplementation/ SI/ Consulting PartnerCommunity Investment Strategies is the developer of Toms River Crescent, a fully affordable complex with 120 two- and three-bedroom apartments and townhomes. Six units are allocated for households earning 30% of area median income.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• New York State Homes and Community Renewal: New York State's housing finance agency administering LIHTC, multifamily financing, and homebuyer assistance programs. Highly comparable mandate and program structure to NJHMFA, with much larger scale in a neighboring state.
• Pennsylvania Housing Finance Agency: Commonwealth of Pennsylvania's housing finance agency offering LIHTC, multifamily lending, and down payment assistance programs. Direct regional peer with nearly identical product mix and state-government structure.
• Connecticut Housing Finance Authority: Connecticut's quasi-public housing finance authority issuing mortgage revenue bonds, administering LIHTC, and providing down payment assistance. Direct regional peer with comparable scope and program offerings.
• California Housing Finance Agency: California's state housing finance agency administering LIHTC, CalHFA loans, and down payment assistance. Largest state HFA peer with directly comparable product portfolio, scaled to a much larger geography.
• Virginia Housing (VHDA): Virginia's housing finance agency administering federal LIHTC, tax-exempt bonds, and homebuyer assistance. Comparable Mid-Atlantic-style state HFA with similar multifamily and single-family programs.
• Florida Housing Finance Corporation: Florida's housing finance corporation administering LIHTC, multifamily bonds, and homeownership programs. Direct peer at scale in a different geographic market with comparable mandate.
• Texas Department of Housing and Community Affairs: Texas state housing agency administering LIHTC, multifamily financing, and homebuyer programs through state-administered federal tax credits. Comparable state-government structure and product set at much larger geographic scale.
• Massachusetts Housing Partnership: Massachusetts public quasi-agency providing affordable multifamily lending and homebuyer assistance. Comparable Northeast state HFA peer with overlapping program structure.
• Ohio Housing Finance Agency: Ohio's state housing finance agency offering LIHTC, multifamily bonds, and down payment assistance. Comparable state HFA peer with similar product mix in a different regional market.

Broad incumbents

• HUD (U.S. Department of Housing and Urban Development): Federal housing agency that funds many programs NJHMFA administers (LIHTC oversight, Section 8 HAP, HOME funds). Not a direct competitor but a funder/regulator whose program decisions shape NJHMFA's deal flow and compliance framework.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xbsky.app/profile/njhousing.bsky.social
• YouTubeyoutube.com/@njhmfa
• Facebookfacebook.com/njhousing
• LinkedInlinkedin.com/company/new-jersey-housing-mortgage-finance-agency
• Instagraminstagram.com/njhmfa

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Jersey Housing and Mortgage Finance Agency