Private Sector Housing Assistance

A number of private companies and organizations offer housing assistance to low- to middle-income families. Just as is the case with federal and state funding, the following programs may change or dissolve according to available funds. The information provided was obtained directly from the following organizations'/companies' websites and publications.

Fannie Mae

Fannie Mae was created by Congress in 1938 to bolster the housing industry in the aftermath of the Great Depression. At that time, Fannie Mae was part of the Federal Housing Administration (FHA) and authorized to buy only FHA-insured loans to replenish lenders' supply of money. Today, Fannie Mae operates under a Congressional charter that directs the company to channel their efforts into increasing the availability and affordability of homeownership for low-, moderate-, and middle-income Americans. Fannie Mae receives no government funding or backing.

Fannie Mae's suite of Community Lending mortgage products and options are designed to help borrowers overcome the two primary barriers to homeownership: lack of down payment funds and qualifying income. Community Lending mortgage products and options have special affordability features, including:

• Lower cash requirements for down payment and closing costs
• Reduced income requirements to qualify
• Higher debt allowances and loan-to-value ratios than required for traditional conventional mortgages

Fannie Mae has designed several programs to offer affordable housing solutions. To learn more about each of the following programs, log onto www.fanniemae.com, click on Affordable Housing and Community Development, then Affordable Housing Solutions:

• Community Land Trust
• Community Seconds
• Faith-Based Initiative
• Fannie 3/2
• Fannie 97
• FannieNeighbors
• Fannie Mae's Community Home Buyer's Program
• Loans for Native Americans
• Loans for People with Disabilities
• Manufactured Housing
• Minority- & Women-Owned Lenders
• MyCommunityMortgage
• Reverse Mortgages for Seniors
• Rural Housing Loans

For housing counseling or mortgage information, call Fannie Mae's Consumer Resource Center at (800) 732-6643.

Freddie Mac

When Congress created Freddie Mac's charter in 1970, it set a clear mission for the company: stabilize the nation's mortgage markets and expand opportunities for homeownership and affordable rental housing. Freddie Mac accomplishes this main goal by ensuring there is a continuous flow of funds to mortgage lenders, not by making individual mortgage loans to consumers. Freddie Mac purchases mortgages from lenders across the country and packages them into securities that can be sold to investors. Through this "securitization" process, Freddie Mac ultimately provides low- to middle-income homeowners and renters with lower housing costs and better access to home financing.

For more information on Freddie Mac and access to their educational materials for consumers, please visit www.freddiemac.com.

Click here to access Freddie Mac's information geared for real estate professionals.

The nearest Freddie Mac corporate office is located at:
Freddie Mac
575 Lexington Avenue, Suite 1800
New York, NY 10022-6102
(212) 418-8900

The Housing and Community Development Network of NJ

The Housing and Community Development Network of NJ
145 W. Hanover Street
Trenton, New Jersey 08618
(609) 393-3752

The Housing and Community Development Network of New Jersey (formerly the Affordable Housing Network) is a statewide association of over 250 nonprofit affordable housing and community development corporations, individuals, and other organizations that support the creation of housing and economic opportunities for low- and moderate-income community residents.

Below is a list of several organizations within the network. Please visit the Network website or call (609) 393-3752 to obtain the complete list of organizations in the network.

Housing Association of Delaware Valley (215) 545-6010

New Jersey Community Capital (609) 989-7766

New Jersey Multi-City Local Initiatives Support Corporation (973) 624-6676

Supportive Housing Association of New Jersey (908) 931-1131

The Community Preservation Corporation (201) 547-5626

Camden Lutheran Housing, Inc. (856) 342-8088

Housing Coalition of Central New Jersey (732) 249-9700

Housing Partnership for Morris County, Inc. (973) 659-9222

Women Rising (201) 333-5700

Newark Community Development Network (973) 430-9975

Somerset County Coalition on Affordable Housing - (908) 704-8901

NJ Habitat for Humanity

New Jersey Habitat for Humanity is a Christian organization that embraces people of all faiths who work in partnership to build decent, affordable housing and to create healthy, vibrant, and self-sufficient communities. Since 1976, Habitat has built more than 125,000 houses in more than 80 countries, including some 45,000 houses across the United States. Habitat for Humanity builds affordable housing based on three main ideals:

1. Houses are sold at no profit, with no interest charged on the mortgage;
2. Homeowners and volunteers build the houses under trained supervision; and
3. Individuals, corporations, faith groups and others provide financial support.

Following is a list of numbers and addresses for each of the New Jersey Habitat for Humanity field offices:

Avenel, 631 E Woodbridge Ave, Avenel, NJ 07001-1530
(732) 251-7200

Bridgewater, PO Box 6275, Bridgewater, NJ 08807-0275
(908) 704-0016

Camden, PO Box 3311, Camden, NJ 08101-3311
(856) 963-8018

Cape May Court House, DN 3020, 4 Moore Rd, Cape May Court House, NJ 08210
(609) 463-0244

Cinnaminson, 1702 Taylors Ln., NJ 08077
(856) 303-8080

Cranbury, PO Box 178, Cranbury, NJ 08512-0178
(609) 443-8744

Elizabeth, 61 Broad St, St. John's Church, Elizabeth, NJ 07201-2205
(908) 352-1218

Freehold, PO Box 62, Freehold, NJ 07728-0062
(732) 308-3400

Hackensack, 10 Banta Pl. Suite 105, Hackensack, NJ 07601-5606
(201) 457-1020

Jersey City, 857 Bergen Ave., Jersey City, NJ 07306
(201) 209-9002

Long Branch, 193 Long Branch Ave., Long Branch, NJ 07740-3306
(732) 728-0441

Morristown, 51 South St, Morristown, NJ 07960-4137
(973) 605-5804

Newark, PO Box 3240, Newark, NJ 07103
(973) 624-3330

Newton, PO Box 502, Newton, NJ 07860-0502
(973) 383-8882

Paterson, PO Box 2585, Paterson, NJ 07509-2585,
(973) 595-6868

Pedricktown, PO Box 400, Pedricktown, NJ 08067-0400
(856) 299-8422

Pitman, 305 S Broadway, Pitman, NJ 08071-2404
(856) 256-9400

Plainfield, 2 Randolph Rd., Plainfield, NJ 07060-2928
(908) 769-5292

Pleasantville, PO Box 443, Pleasantville, NJ 08232-0443
(609) 407-1775

Toms River, PO Box 1754, Toms River, NJ 08754-1754
(732) 818-9500

Trenton, 601 N Clinton Ave, Trenton, NJ 08638-3446
(609) 393-8009

Vineland, 610 E. Landis Ave., Suite 202, Vineland, NJ 08360
(856) 563-0292

Wall, 1924 State Route 35, Suite 11, Wall, NJ 07719-3530
(732) 974-2422

Washington, 49 Park Ave, Washington, NJ 07882-1813
(908) 835-1338

West Creek, 668 Main St, West Creek, NJ 08092-3214
(609) 978-9984