MassHousing provides eligible home buyers with Down Payment Assistance of up to $30,000 when purchasing a home in every city and town in Massachusetts.

To be eligible for Down Payment Assistance from MassHousing, you must

• Be an income-eligible first-time home buyer
• 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. To learn more about MassHousing Down Payment Assistance or MassHousing Mortgage loans, please contact a mortgage loan officer.

FHLB Equity Builder Program

The Federal Home Loan Bank of Boston Equity Builder Program offers grants to help first-time buyers earning up to 80% of the area median income (AMI) with down-payment, closing cost, and home rehabilitation assistance, and home buyer education and counseling. Eligible applicants can receive grants of up to $29,000 with a minimum borrower contribution of $500.

FHLB Housing Our Workforce Grants

Housing Our Workforce (HOW) offers grants to help home buyers earning above 80% and up to 120% of AMI with down-payment and closing cost assistance.

FHLB Lift Up Grant

The Lift Up Homeownership Program helps lenders like Cambridge Savings Bank provide people of color with incomes up to 120% of AMI with up to $50,000 in down-payment and closing-cost assistance toward the purchase of their first home.

To learn more about FHLB programs, please contact a mortgage loan officer.

The City of Boston First-Time Homebuyer Program provides income-eligible, first-time home buyers with a grant that can be used toward their down payment.

For qualified households, the grant amount is five percent of the purchase price (maximum of $50,000 for those with income less than 100 percent of AMI, maximum of $35,000 for those with income between 101 and 135 percent of AMI), plus closing costs if applicable.

To qualify for this program you'll need to be buying a one- to three-family residential property or condominium in Boston that will serve as your primary residence. You'll also need to meet the following requirements:

• Be a first-time home buyer (you haven't owned a property in the past three years)
• Graduate from the City of Boston's Homebuying 101 class
• Get a first mortgage pre-approval from one of Boston's participating mortgage lenders like Cambridge Savings Bank (mortgage loan must adhere to the Fannie Mae general loan limits)
• Have a household income less than 135 percent of AMI
• Have assets less than $75,000

Visit the City of Boston's website or contact a mortgage loan officer to learn more about how to apply for this program.

ONE Mortgage

The ONE Mortgage offers a host of benefits to first-time home buyers, including:

• As little as 3% down payment
• Low, fixed interest rate
• No Private Mortgage Insurance (PMI)
• Financial assistance for eligible buyers

To qualify for the ONE Mortgage Program, you must meet the following requirements:

• Be a first-time home buyer. This means that you have not owned a home in the three years prior to applying to the program.
• Not have more than $75,000 in total household assets. The asset test excludes retirement savings, government-approved college savings plans and municipal down payment or closing cost assistance programs.
• Meet the credit and underwriting requirements of a participating ONE Mortgage lender like Cambridge Savings Bank

ONE+ Mortgage

The ONE+ Mortgage program builds upon the success of ONE+Boston and MassDREAMS to offer the same great lower monthly interest rate, as well as closing cost and down payment assistance.

To qualify for the ONE+ Mortgage Program, you must:

• Be a current resident of one of the following 29 communities: 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, or Worcester.
• Be a first-time home buyer. This means that you have not owned a home at any point in the last three years.
• Take a home buyer class. This class will help you get ready for the home buying process.  MHP will accept any class on this list.
• Meet the program's down payment requirements. The program requires a 3% down payment to buy a condo, single-family home, or two-family home. At least 1.5% of the purchase price must be from your own savings. For a three-family property, the program requires a 5% down payment with at least 3% from your own savings.
• Have a total household income under program limits. Income limits vary by the community you are considering purchasing in. Check your community on this page.
• Have less than $100,000 in total household assets. The asset test excludes most retirement accounts, college savings accounts, and money from down payment programs.
• Meet program credit score limits. Your credit score must be at least 640 to buy a single-family or condo and at least 660 to buy a two/three family home. There are also options for people who don’t have any credit history.
• Agree to live in the property as your primary residence. If you stop living in the property, you must refinance out of your ONE+ Mortgage.

ONE+ Boston

ONE+Boston combines City of Boston funds with the affordable features of ONE Mortgage to increase the buying power for income-eligible, first-time Boston home buyers purchasing a home within the City.

To get a ONE+Boston mortgage you must:

• Be a current resident* of the City of Boston and be purchasing within the City of Boston. You will be asked to provide a copy of your current lease OR current utility bill OR voter registration
• Be a first-time home buyer. This means that you have not owned a home at any point in the last three years.
• Take a home buyer class. This class will help you get ready for the home buying process.
• Meet the program’s down payment requirements. The program requires a 3% down payment to buy a condo, single-family home, or two-family home. At least 1.5% of the purchase price must be from your own savings. For a three-family property, the program requires a 5% down payment with at least 3% from your own savings. The City of Boston is providing enhanced down payment assistance as part of this program.
• Have a total household income under program limits.

To learn more about MHP ONE, The ONE+ Mortgage Program, and ONE+Boston, please contact a mortgage loan officer.

The Massachusetts Affordable Housing Alliance (MAHA) STASH Program is a first-in-the-nation matched savings program for first-generation first-time home buyers in Massachusetts. A cohort of participants is led through 8 seminar topics ranging from SMART goal setting for homeownership, establishing good saving habits, building a budget, managing credit, consumer rights, estate planning and more; all of which are essential to preparing for the home buying process and sustaining homeownership.

To qualify for the STASH Program you must:

• Be a first-generation first-time home buyer (neither you nor your parents ever owned a home in your lifetime or lost it due to foreclosure in the US, and your spouse nor your spouse's parents ever owned a home in the US).
• Be a graduate of a Citizens' Housing and Planning Association (CHAPA)-approved first-time home buyer class
• Earn 100% of AMI and below for each household (”household” income limit cannot exceed 100% AMI based on household size and county in which you currently live)
• Earn a minimum household income of $45,000 per year
• Must be mortgage ready, meaning:
  • A minimum credit score of 640 and less than two adverse issues on credit report
  • Savings minimum of $3,000 with the capacity to save an additional $2,000 within 6 months, or savings of $5,000

The matching grant is up to $40,000 in Boston, up to $25,000 in Salem, and up to $20,000 elsewhere in Massachusetts (depending on mortgage type, and other down payment assistance received). For more information on the program's qualifications, visit the Massachusetts Affordable Housing Alliance website or contact a mortgage loan officer.