MassHousing offers several down payment assistance programs, each of which has its own terms, conditions and income limits. A MassHousing-approved lender will determine a
borrower’s eligibility and determine which option is available. Here is a flyer from our affiliate contact Oneida Fuentes, Mass Housing Relationship Manager, Phone: 617-416-8587, Email: ofuentes@masshousing.com. She would be happy to help with any questions. Here is a quick overview of the two options, and flyer with more information.
Option 1: DPA $30,000
• For qualified income-eligible first-time homebuyers who purchase a home in Massachusetts
• Down payment assistance is in the form of a 0% interest rate, deferred payment second mortgage loan, and is due upon sale or refinance of the property.
• Available for 1- or 4-unit properties
• This down payment assistance is paired with a specific mortgage loan product for which the borrower must be eligible.
Option 2: DPA $25,000
• For qualified income-eligible first-time homebuyers who purchase a home in a Massachusetts
• Down payment assistance is in the form of a 2% interest rate, fully amortized 15-year fixed rate and is due upon sale or refinance of the property.
• Available for 1- or 4-unit properties
• This down payment assistance is paired with a specific mortgage loan product for which the borrower must be eligible.
