Down Payment Assistance Programs

This program assists income-eligible homebuyers with up to $29,000 that can be used towards their down-payment and closing costs.*

• Must be a first-time homebuyer
• Available to households with incomes at or below 80% of the area median income (AMI) based on the property location (adjusted for family size)
• Borrowers have to contribute a minimum of $500 in down payment funds
• Must be for an owner-occupied primary residence
• Recipients must attend a homebuyer education or counseling program through a FHLB approved homebuyer counseling organization

*The funds are from a pool of monies provided by the FHLB and are available on a first-come, first-served basis. Funds are not guaranteed. Restrictions may apply.

This program offers down-payment assistance grants to help homebuyers earning above 80% and up to 120% of the area median income. Eligible borrowers may be able to receive up to the lesser of 10% of the purchase price or $25,000 per household. This allows a greater number of working individuals and families to be able to afford purchasing a home.*

• Available to households earning more than 80% and up to 120% of the area median income (AMI) based on the property location (adjusted for family size)
• Borrowers are required to contribute at least 3% of the purchase price
• Must be for an owner-occupied primary residence
• First-time homebuyers must attend a homebuyer education/counseling program through a Federal Home Loan Bank (FHLB) approved homebuyer counseling organization

* The funds are from a pool of monies provided by the FHLB and are available on a first-come, first-served basis. Funds are not guaranteed. Restrictions may apply. Funds may be available for non-first-time homebuyers.

MassDREAMS is a federally funded grant program designed to provide eligible first-time homebuyers who currently reside in a Disproportionately Impacted Community with up to $50,000 in down payment and closing cost assistance for the purchase of a primary residence in the Commonwealth of Massachusetts. Visit the MassDREAMS website for more information and to see if you qualify for the program by completing the pre-screening questionnaire.

• Must be a first-time homebuyer
• Available to households with incomes up to 100% of the area median income (AMI) based on the property location (adjusted for family size)
• Must currently reside in one of the 29 Disproportionately Impacted Communities in Massachusetts
• Borrowers are required to contribute at least 1.50% of the purchase price to purchase a condo, single family home or two-family home and for a three-family property at least 3% of the purchase price
• Buy a single-family home, condominium or 2-or 3-family home, which will be your primary residence
• Recipients must attend homebuyer education/counseling program, must be MHP/Mass Dreams approved
• Meet credit score, asset and other eligibility requirements