Down Payment Assistance in Central Massachusetts

Current as of 10/21/2022:

Down payment assistance can mean the difference between being able to purchase a home or being sidelined paying rent. Even if you are not still looking to purchase, you may want to share this information with someone who is looking.

Keep reading below for the Mass Housing Grant information or see other down-payment assistance offers here. I can check to see what specific programs are available for each home you are interested in- just let me know.

Mass Housing is offering a grant up to $50,000 that is forgiven at closing!!!  Yes, FREE money for first time home buyers!  This is a game changer for so many buyers in our market. This can drastically help offset some of the challenges buyers are having in this market with higher rates and payments.

Here are some key details:

*Buyer must CURRENTLY live in one of the following locations to qualify: Attleboro, Barnstable, Boston, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Framingham, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Randolph, Revere, Salem, Springfield, Taunton, Westfield, and Worcester.

* If eligible, can purchase ANYWHERE in Mass.  They are not restricted to locations above.

* Assistance is up to $50,000 if income is at or below 100% Area Median Income (Worcester county is $107,900 and Middlesex, Essex, Norfolk, Suffolk, Plymouth county is $133,300)

*Assistance is up to $35,000 if income is at or below 135% Area Median Income  ( Worcester county is $145,665 and Middlesex, Essex, Norfolk, Suffolk, Plymouth county is $179,955

* First time homebuyers only, primary home

*1,2,3,4 unit homes and condos eligible

*Conventional or FHA

 The assistance will be used for 5% of the down payment, the remainder will be used to closing costs, taxes and insurance. If there are funds left over, it can be used to buy down the interest rate and on a conventional loan – buy out the mortgage insurance.  This means a buyer could potentially get a lower rate and NO mortgage insurance ( PMI).  This can significantly lower a buyer's monthly payment.

You can check out our informational brochure here: