BOSTON – June 11, 2025 – MassHousing announced today the expansion of the Agency's Down Payment Assistance (DPA) mortgage program. MassHousing’s expanded DPA program now offers up to $25,000 in down payment assistance to all income-eligible first-time homebuyers, when purchasing a first home in any city or town in Massachusetts. MassHousing now offers the largest statewide homebuyer assistance program in Massachusetts for moderate- and middle-income homebuyers.
"Down payment assistance is a vital tool for empowering first-time homebuyers and advancing MassHousing’s commitment to expanding access to homeownership," said MassHousing CEO Chrystal Kornegay. "By growing our leading down payment assistance program to reach more middle-income homebuyers statewide, we will grow consumer buying power and help ensure that homeownership remains accessible to working families across Massachusetts."
"Middle-income households now have statewide access to up to $25,000 in down payment assistance financing – a significant boost that brings first-time homeownership within closer reach, in every Massachusetts community," said Mounzer Aylouche, Vice President of Homeownership Programs.
MassHousing down payment assistance financing of up to $25,000 was previously available statewide to new homebuyers earning under 80 percent of the area median income, while new middle-income homebuyers earning more than 80 percent of the area median income could access down payment assistance only when buying a new home in a Gateway City, Boston and Randolph. MassHousing’s new, expanded down payment assistance program retains DPA access for moderate-income homebuyers while removing geographic restrictions for middle-income residents. These changes create the largest statewide DPA platform in Massachusetts serving low-, moderate- and middle-income homebuyers.
In eastern Massachusetts, including Essex, Middlesex, Norfolk, Plymouth and Suffolk Counties, MassHousing's statewide DPA is now available to first-time homebuyers earning up to $205,335. Income limits are $165,645 in Worcester County, $160,650 in Hampshire County and $129,870 in Hampden County. MassHousing DPA is only available to qualified first-time homebuyers utilizing a MassHousing first mortgage to purchase a home.
With this new down payment assistance expansion, MassHousing now has statewide capacity to offer robust down payment assistance options to all homebuyers the Agency serves. MassHousing offers up to $30,000 in DPA to homebuyers earning up to 60% of the Area Median Income (AMI), with deferred repayment terms and a zero percent interest rate. Homebuyers earning up to 80% of AMI can access up to $25,000 in statewide DPA financing at a 2 percent interest rate. Now, homebuyers earning between 80% of AMI and 135% of AMI can access up to $25,000 in statewide DPA financing at a 3 percent interest rate. At all eligible income levels, MassHousing DPA financing helps lower barriers to achieving homeownership.
Over the past five years, MassHousing has provided nearly $3 billion in first-mortgage financing to roughly 9,800 low-, moderate- and middle-income Massachusetts households. MassHousing has also provided over $122 million in down payment assistance to 6,300 new first-time homebuyers during that time.
MassHousing is committed to fostering sustainable long-term homeownership. All MassHousing borrowers complete a homebuyer education course prior to purchasing their first home. MassHousing utilizes high-touch in-house loan servicing. MassHousing mortgages come with MI Plus, a unique mortgage insurance and mortgage payment protection program that provides eligible borrowers with up to six months of principal and interest payments, helping homeowners who are experiencing a period of unemployment remain current on their mortgage payments.
About MassHousing
MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 to confront the Commonwealth’s housing challenges. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations. As a mission-driven agency, MassHousing uses housing finance to strengthen communities and lay the foundation for economic prosperity. Since its inception, MassHousing has provided more than $29 billion in housing finance. For more information, visit the MassHousing website at www.masshousing.com.
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