The vast majority of New Jersey residents are eligible. There are three main criteria for qualifying.
1. You must have a federal taxable income of LESS than $250,000.
2. Your net worth must be less than $500,000 (excluding your primary residence and pension).
3. You need to demonstrate that repaying a loan would be a financial burden. (The NJEDA has a very liberal test to determine what is a hardship.)
Copyright
Reel-Strong Heating & Cooling, All Rights Reserved.