Down Payment Assistance
New & Improved Down Payment Assistance Now Available!
MassHousing has expanded its Down Payment Assistance Program to empower first-time homebuyers in Massachusetts!
- Increased Assistance: MassHousing now provides down payment assistance for up to 5% of the purchase price or $15,000, whichever is less
- More Property Types: Single-family homes, condominiums and 2-, 3- or 4-family properties are now eligible
- Higher Income Limits: First-time homebuyers in Boston and the Commonwealth's 26 Gateway Cities* can earn up to 135% of the area median income (AMI); first-time buyers can earn up to 100% of AMI in the remainder of the Commonwealth. View income limits.
Down Payment Assistance Program Details
- Down payment assistance is a 15-year, fixed-rate loan at 2%
(Example: $15,000 down payment assistance loan = 180 payments of $96.53; 2.011% APR)
- Repayment of the down payment assistance is also due upon sale or refinance of the property prior to the end of the 15-year term
*The Gateway Cities are 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.