MISSION: The Live Where You Work Homebuyer Program builds strong communities and promotes sustainable land use by encouraging people to live close to their places of employment. HOMEBUYER PROGRAM DO YOU WORK IN OLD BRIDGE? YOU MAY BE ELIGIBLE! LIVE WHERE YOU WORK - OLD BRIDGE SPONSORS: Live Where You Work is sponsored by the New Jersey Housing and Mortgage Finance Agency (HMFA) in partnership with individual cities, boroughs and towns throughout New Jersey. ABOUT THE TOWN OF OLD BRIDGE: Welcome to the Township of Old Bridge. Old Bridge has earned its distinction as a “commuter community” with its easy access to the Garden State Parkway, Route 9 and Route 18, as well as its close proximity to the NJ Transit Aberdeen/Matawan and South Amboy train stations. As the third largest municipality in Middlesex County, one of the fastest growing counties in the State of New Jersey, Old Bridge has a lot to offer its residents, both old and new. The Township’s public school system, with a student population of over 10,000, ranks as one of the largest suburban school districts in the state of New Jersey providing preschool and comprehensive high school education. The educational facilities consist of one high school with two campuses, tow middle schools, and twelve elementary schools. Why not visit the Old Bridge Library with an number of special services including computers for public use, study rooms, wireless programming for all ages, large print books, DVD’s, audio-books, music recording, resources in many different languages and yes books. Recreational facilities in Old Bridge include Geick Park, Veterans Park. ROBIN recreation center, John Piccolo Ice Arena. In addition to the many parks and recreational centers, there is the 1000 acre Cheesequake State Park and 1700 acre Phillips preserve, a Middlesex County Park offering a multitude of passive and active recreational amenities, as well as the beautiful Waterfront Park on the Raritan Bay, all within Old Bridge Township. If you already work in Old Bridge, the Live Where You Work homebuyer program is just another reason to make Old Bridge your new home! 637 South Clinton Avenue Trenton, NJ 08650-2085 TEL: 609-278-7400 www.nj-hmfa.com 1 Old Bridge Plaza Old Bridge, NJ 08857 TEL: 732.721.5600 www.oldbridge.com/lwyw This brochure was printed using recycled papers and environmentally-friendly inks. ELIMINATE THOSE LONG COMMUTES TO WORK! DOWN-PAYMENT AND CLOSING COST ASSISTANCE! MORE FLEXIBLE UNDERWRITING CRITERIA! TO LEARN MORE ABOUT LIVE WHERE YOU WORK – OLD BRIDGE VISIT US ON THE INTERNET AT WWW.LIVEWHEREYOUWORK.NJ.GOV OR CALL 1-800-NJHOUSE SEARCH FOR A HOME View potential properties by visiting these websites:** www.oldbridge.com/lwyw WHAT IS OLD BRIDGE’S LIVE WHERE YOU WORK PROGRAM? Live Where You Work - Old Bridge is a special homebuyer incentive program that provides low-interest mortgage loans to homebuyers who work in and who are looking to purchase a home in Old Bridge. MAXIMUM INCOME LIMITS FOR OLD BRIDGE†‡ FAMILY SIZE 1-2 person household 3+ person household A MESSAGE FROM MAYOR JAMES T. PHILLIPS As Mayor of Old Bridge, I am very proud of the beautiful parks and recreations area that are offered to all our residents. Old Bridge has dedicated many acres of open space to our parks, ball fields, bike paths, and a bay front boardwalk to enjoy. I encourage you to take a walk along our Waterfront Park in Laurence Harbor, or enjoy a day with the family at Geick Park or Veteran’s Park. Stop by the newly opened YMCA at Mannino Park to test out the treadmills in the family fitness center or get a chance to dive into the eight-lane swimming pool. Old Bridge Township is committed to the health and well-being of our senior citizens as well. A multitude of senior recreation, health & wellness, cultural and intergenerational programs are offered on a daily basis. There’s a lot to do in Old Bridge with excellent restaurants, dozens of organizations, over twenty houses of worship, and local shopping. Old Bridge offers a good quality of life. Old Bridge truly has it all, a great place to live, work and do business. ** † ‡ TOWNSHIP WIDE $101,100 $116,265 WHAT ARE THE BENEFITS OF OLD BRIDGE’S LIVE WHERE YOU WORK PROGRAM? • Low-interest mortgages for homebuyers. • Downpayment and closing cost assistance for the purchase of a home. • More flexible underwriting criteria for the loan qualification process. • Additional savings offered by local businesses in partnership with the town of Old Bridge. Visit www.oldbridge.com/lwyw for more information. MAXIMUM PURCHASE PRICE LIMITS FOR OLD BRIDGE† HOUSE TYPE New 1 family Existing 1 family Existing 2 family Existing 3 family Existing 4 family TOWNSHIP WIDE $429,619 $429,619 $550,005 $664,828 $826,218 Not all properties listed on these websites are located within Urban Target Areas. These limits are set by the federal government and are subject to change without notice. (Updated 3/31/08) Interest rates will vary depending on income. See www.livewhereyouwork.nj.gov for more information.
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