MassHousing Down Payment Assistance
Available Assistance
MassHousing provides down payment assistance up to 5% of the purchase price or $15,000, whichever is less. Eligible applicants receive these funds in the form of a 15-year, fixed-rate loan at 2% interest. Repayment of the assistance loan becomes due upon sale or refinance of the property prior to the end of the 15-year term.
Eligibility Requirements
To be eligible for the MassHousing Down Payment Assistance program, applicants must be first-time homebuyers. They must all fall within the program’s maximum income limits; those in Boston or the Commonwealth's 26 Gateway Cities* can ear up to 135% of the area median income (AMI), and first-time buyers in the remainder of the Commonwealth can earn up to 100% of AMI.
With program funds, applicants are able to purchase single-family homes, condominiums, and 2-, 3- or 4-family properties.
*The Gateway Cities include Attleboro, Barnstable, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Revere, Salem, Springfield, Taunton, Westfield, and Worcester.
Note: The information provided was accurate at the time of publication and may no longer be current. Visit the program website for updated information.
First-Time Homebuyer Programs in Massachusetts
MassHousing Down Payment Assistance
MassHousing has expanded its Down Payment Assistance Program to help first-time homebuyers in Massachusetts. It offers assistance funds to help cover the upfront costs of buying a home.
City of Lowell HOME Program
The City of Lowell offers income-eligible first-time homebuyers down payment assistance in order to help them achieve their dreams of owning a home.
ONE+ Boston First Time Homebuyer Program
With the One Mortgage Program, the Massachusetts Housing Partnership gives first-time homebuyers the chance to purchase their home with low-interest financing.
City of Brockton First Time Homebuyer Program
The City of Brockton offers down payment assistance to eligible first-time homebuyers purchasing a single or two-family home in within city limits.
First-time homebuyer assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
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