Down Payment Assistance for 1st Time Home Buyers in Massachusetts

For many first time home buyers coming up with a down payment is the most challenging aspect of the home buying process. Saving the down payment needed is the reason that many otherwise qualified applicants continue to spend money on rent that could be used to build equity of their own. Don’t let the down payment deter you from taking advantage of a historically low interest rate environment.

Massachusetts residents have the ability to utilize down payment and closing cost assistance by tapping into the resources made available through the HOME Investment Partnership Programs. HOME provides grants to states that communities use to fund various types of homeownership expansion programs. Many of these grants get partnered with local nonprofit groups that facilitate housing education to the public. HOME has become the largest Federal grant for MA designed to create affordable housing for low-income households.

Program Requirements: 

  • Must be a first-time home buyerState of MA Seal
  • Must purchase an eligible property such as 1-4 family homes, condos, or manufactured home
  • Must purchase in the city or town where you apply
  • The home must by your primary home also know as owner occupied
  • The applicant must complete an approved home buyer training course and obtain a certificate
  • Must use a lender that allows for down payment and closing cost assistance programs
  • Must meet income and asset limits

A first-time home buyer is defined as an individual who has not owned a home in the previous three years. If you owned a home with a former spouse, if you are a single parent, or if you owned a home without a foundation, you still qualify as a first-time home buyer.

Massachusetts residents can look here for more First Time Buyer Tools

Number in Household

Boston 120% of Median Income

Worcester 80% of Median Income

Springfield 80% of Median Income





























The amount of assistance the applicant is able to obtain varies from program to program but many programs will offer down payment and closing cost assistance ranging from 1.75% to 5% of the purchase price. Many of these programs do require that the applicant is able to make a small minimum investment so make certain that is something that you plan for.

The key to a successful home buying experience is understanding the steps from organizing your finances to getting the keys to your new home. The Mortgage Buddy tries to remove stress from the process by providing you a step by step timeline to buying your first home.

The first step to applying for the HOME assistance is to contact your local town housing administrator. This low interest lending environment won’t last forever so if you are seriously considering taking that step towards homeownership don’t let the obstacle of saving for a down payment get in the way of your dream.

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