First-Time Home Buyer Programs in Massachusetts

Massachusetts Housing Programs (MassHousing & MHFA):

MassHousing and the Massachusetts Housing Finance Agency (MHFA) offer 30-year fixed-rate mortgages at competitive rates and down payment/closing cost assistance for first-time homebuyers (no primary residence in past 3 years, waived in targeted areas) through approved lenders. No statewide sales price limit; income limits vary by county (higher in targeted areas like Boston metro). Mandatory homebuyer education required. Verify current rates, income/purchase limits, and targeted areas at masshousing.com/homeownership or contact an approved lender. Programs remain active and well-funded in 2026.

MassHousing First-Time Homebuyer Mortgage Programs:

Eligibility: First-time homebuyers or those not owning in past 3 years (waived in targeted areas); low-to-moderate income.
Offerings: 30-year fixed-rate mortgages (FHA, VA, USDA, or conventional) with below-market rates and low down payment options.
Requirements:

• Income ≤ county-specific limits (varies by household size; e.g., ~$120,000–$180,000+ in high-cost areas like Suffolk/Middlesex; lower in rural counties—check MassHousing income chart).
• Minimum credit score: 620+ (varies by loan type).
• Debt-to-income ratio typically ≤45% (up to 50% with compensating factors).
• Mandatory homebuyer education (free via MassHousing-approved counselors or online courses).

Down Payment and Closing Cost Assistance (DPA):

Standard DPA: Up to 5% of purchase price (max ~$15,000–$25,000 depending on loan/program) as deferred second mortgage (0% interest, no monthly payments; repayable on sale/refinance/payoff).
Forgivable DPA (in select programs): Portions forgiven after occupancy period (e.g., 5–10 years).
Eligibility: Must pair with MassHousing first mortgage; income-based; minimum buyer contribution often required.

MassHousing ONE Mortgage Program:

Description: Single, streamlined mortgage with built-in DPA (up to 3–5% assistance) for first-time buyers; competitive rates with no private mortgage insurance (PMI) in many cases.
Eligibility: Meet income limits; credit 620+; education required.

Local Programs (Examples):

City/county programs offer additional deferred/forgivable assistance—funding limited; verify local housing authorities or MassHousing partners.

Boston / Suffolk County

Boston Home Center Assistance: Up to $30,000+ deferred/forgivable for down payment/closing in city limits; income-based (≤80–120% AMI); counseling required—check boston.gov/home-center.

Worcester / Worcester County

Worcester Homeownership Assistance: Assistance through regional partners (often up to $10,000–$20,000 deferred) for low/moderate-income buyers; education required—see worcesterma.gov/housing.

Springfield / Hampden County

Springfield Homebuyer Programs: Local grants/loans (up to $15,000 deferred/forgivable) for eligible first-time buyers—check local housing authority.

Additional Information:

• USDA Loans: 0% down in eligible rural Massachusetts areas; income limits apply.
• VA Loans: 0% down for eligible veterans/active-duty military.
• FHA Loans: 3.5% minimum down (580+ credit; 10% if below 580).

Massachusetts programs emphasize flexible DPA and targeted support—always confirm with a MassHousing-approved lender or masshousing.com. Seeking Agents® connects you with Massachusetts agents who understand these programs and compete to offer reduced commissions or added services—free for buyers/sellers!