Federal Housing Administration's (FHA) Limited 203(k) Program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home. Homebuyers and homeowners can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or an FHA appraiser. Homeowners can make property repairs, improvements, or prepare their home for sale. Homebuyers can make their new home move-in ready by remodeling the kitchen, painting the interior, or purchasing new carpet. Read this pamphlet for more information.
On July 7, 2023, Governor Phil Murphy signed bill S3110/A4783, which requires property sellers and landlords to make certain notifications regarding flooding.
Federal Emergency Management Agency (FEMA) released the updated Elevation Certificate (EC) form on July 7, 2023. There is no grace period for the old form. Any form signed and dated as of July 7, 2023 must be on the latest FEMA EC Form.