New Jersey Lawmakers Advance Plan to Assist First-Time Home Buyers

By: Andre Paras

Outlets: NJ State House News Service

Published: February 12, 2026

Words: 517

Last Updated: 1 month, 1 week ago

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TRENTON, N.J. – As young Americans believe homeownership is slipping out of reach, New Jersey legislators are attempting to lower barriers to help first-time homebuyers save for a downpayment.

A bill, S1756, sponsored by Sen. Troy Singleton, a Democrat from Palmyra, and Sen. Vin Gopal, a Democrat from Long Branch, would create state income tax incentives for residents who tuck away money in a designated homebuyer savings account.

“We all recognize that New Jersey …

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