Eligibility Quick Check
Answer a few questions to see if you might be eligible for MassHousing’s programs. You can even choose to connect with one of our top lending partners!
Down Payment Assistance up to $30,000
Available with a MassHousing Mortgage for home purchases in every city and town in Massachusetts!
Saving for a down payment is one of the biggest challenges homebuyers face. That’s why MassHousing provides eligible homebuyers with Down Payment Assistance of up to $30,000 when purchasing a home in every city and town in Massachusetts.
Who is eligible for Down Payment Assistance from MassHousing?
To be eligible for Down Payment Assistance from MassHousing, you must
- Be an income-eligible first-time homebuyer
- Purchase a single-family home, condominium, or 2-, 3- or 4-family property that will be your primary residence
- Pair Down Payment Assistance with an affordable MassHousing Mortgage loan to purchase your home
Additional eligibility requirements apply.
Down Payment Assistance Details
MassHousing provides down payment assistance in the form of a second mortgage loan. MassHousing-approved lenders determine which type and the amount of down payment assistance a borrower is eligible for.
All DPA Options may be used to purchase a home in any community in the Commonwealth of Massachusetts, subject to first mortgage eligibility. The DPA Loan must be paid off if the property is sold or refinanced, or if the first mortgage is paid off.
Option 1 is an interest-free deferred payment second mortgage loan, meaning no payments are due until the property is sold or refinanced, or the first mortgage loan is paid off, at which time the entire balance is due.
Option 2 is a 15-year amortizing second mortgage loan at a fixed 2% rate of interest (APR 2%), which means the borrower makes monthly payments of principal and interest for 15 years on this second loan, in addition to the monthly payments on their first mortgage loan.
Option 3 DPA is a 15-year amortizing second mortgage loan at a fixed 3% rate of interest (APR 3%), which means the borrower makes monthly payments of principal and interest for 15 years on this second loan, in addition to the monthly payments on their first mortgage loan.
| DPA Option | Repayment | Maximum DPA Amount | Interest Rate | APR |
|---|---|---|---|---|
| 1 | Deferred | $30,000 | 0% | 0% |
| 2 | Amortizing over 15 years (monthly payments required*) | $25,000 | 2% | 2% |
| 3 | Amortizing over 15 years (monthly payments required†) | $25,000 | 3% | 3% |
*Payment Amount Example: A DPA loan in the amount of $25,000 would have 180 payments of $160.88.
†Payment Amount Example: A DPA loan in the amount of $25,000 would have 180 payments of $172.62.
Next Steps
Sign Up for Homebuyer Education
Taking a homebuyer education class is a smart first step, and is required to be eligible for a MassHousing Mortgage and Down Payment Assistance.