Any currently employed, and who is a member of the Police and Firemen Retirement System with at least one year creditable service is eligible for a mortgage loan. This program can be new originations or refinances. See your State Delegate for a current copy of participating lenders,and a loan application.
For more information call 1-800-NJ-House or visit the link below:
The State Treasurer has obtained and is relying on an opinion from tax counsel that there is an adequate basis, in accordance with prevailing guidelines, to conclude that it is reasonable for the Police and Firemen's Retirement System to take the position that mortgages issued under this program should not be treated as taxable distributions. If it is ultimately determined that these mortgages are taxable distributions, you could be required to pay tax on the mortgage proceeds as well as penalties.
We suggest you consider consulting your own tax advisor before submitting your application.
Participating Lenders
Following is a list of participating lenders offering the Police and Firemen's Mortgage Program. For detailed information on program requirements, contact one of the lenders listed below.
