New Jersey

The New Jersey Housing and Mortgage Finance Agency (NJHFMA) is extending the following deadlines for properties with 2018 and 2019 nine percent LIHTCs:

Ten Percent Test: The deadline to submit evidence that ten percent requirement of §42(h)(1)(E)(ii) was met is now 12 months after the date the carryover agreement was signed.

Placed-In-Service Deadline: The deadline to place affected projects in-service has been extended by 12 months following the end of the two-year period described in §42(h)(1)(E)(i).   

New Jersey Governor Phil Murphy (D) signed Executive Order 128

NJHMFA has obtained the approval of the Governor as well as unanimous consent of the NJHMFA Board to suspend the rent increase rules for the duration of Executive Order 103. The suspension is effective as of April 16, 2020.

In light of the ongoing COVID-19 crisis, the New Jersey Housing and Mortgage Finance Agency (Agency) has made the decision to delay the nine percent tax credit deadline by 60 days. 

Financing Applications- All financing applications are to be submitted in electronic format to the Multifamily Division.   

Audits/Physical Inspections: All file audits and physical inspections have been postponed until further notice. Nine Percent Application Deadline: No changes have been made to the nine percent timeline at this time. However, please continue to monitor New Jersey Housing and Mortgage Finance Agency communications for future updates and announcements. The Agency expects to announce whether […]

The New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) inspection process remains the same except for the following:

Requisitions for payment are to be submitted via email to the Project Representative, who, after review, will forward if approved to the Technical Services Division for approval and payment, or, if rejected will return for correction.

Loan Closings and Ownership/Title Transfers have been temporarily suspended during the period of the Coronavirus emergency.

Governor Murphy has signed an Executive Order declaring a moratorium on evictions and foreclosures while the order is in effect.

The New Jersey Housing and Mortgage Finance Agency is reviewing potential amendments for the next revision to the QAP and is interested in soliciting input from stakeholders, developers, community partners and interested parties.

The Unified Application for NJHMFA Multifamily Rental Housing Production Programs (UNIAP) from the New Jersey Housing and Mortgage Finance Agency (NJHMFA) is now available. The UNIAP can be used for Multifamily Financing Programs, LIHTC and Supported Housing and Special Needs Programs. NJHMFA also posted the nine percent LIHTC timeline and other important resources.

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) announced the Special Needs Housing Subsidy Loan Program (SNHSLP), which will provide special needs housing and residential opportunities as alternatives to institutionalization or homelessness for those who would benefit and to ensure the long-term viability of such housing.