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 Live Where You Work |
What is Live Where You Work - Morristown?
Live Where You Work - Morristown is a special home mortgage incentive program that provides low-interest mortgage loans to people who work i n Morristown and who are looking to purchase a home in Morristown.
Fact Sheet
Nj State Live Where You Work Web Site
The goals of the Live Where You Work - Morristown program are to:
- strengthen our residental communities and increase community involvement through homeownership;
- attract individuals who work in Morristwon to live, shop in Morrisotwn
- promotes sustainable land use by encouraging people to live close to their places
of employment
What are the benefits of Live Where You Work - Morristown?
The primary benefits of Live Where You Work - Morristown City are:
- Low-interest mortgages for first time home buyers
- Down payment and closing cost assistance for the purchase of a home
- More flexible underwriting criteria for the loan qualification process
This program may be used to purchase a home anywhere in Morristown and home buyers do not have to be first time home buyers.
Maximum Income Limits†
| Family Size |
Income Limit |
| 1-2 person household |
$84,400 |
| 3+ person household |
$97,060 |
Maximum Purchase Price Limits*
| Type of Home |
Purchase Price |
| New 1 family (including condos) |
$429,619 |
| Existing 1 Family |
$429,619 |
| Existing 2 Family |
$550,005 |
| Existing 3 Family |
$664,828 |
| Existing 4 Family |
$826,218 |
To view and download the Live Where You Work Brochure, click here
† These limits are set by the federal government and are subject to change without notice. (Updated 3/31/08)
* Subject to mortgage qualification based on household income and other factors. The size of the loan qualified for depends on borrower’s income and may be significantly less than the maximum purchase price limit for the program. |
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Town Of Morristown, 200 South Street, CN 914, Morristown, NJ 07963-0914
© Town of Morristown, New Jersey
If you have any suggestions or problems with the web site, please email l-leach@townofmorristown.org. |
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