First Time Homebuyers Loan

If you are a First Time Homebuyer, there are a few options that might make sense for you.  Usually first time homebuyers may have slightly less money saved and less of an income or credit history - but there are a variety of ideal home loans geared to meet your needs! This might include a Conventional 3% down payment loan, MA Housing Mortgage, FHA, VA, or USDA Rural Housing. All of these loans offer low down payment options for qualified buyers, including First Time Homebuyers in MA with an income limit!

For more information, watch our Homebuyer Seminar here.

First Time Homebuyer Loan Programs

Equity Builder Program

If you’re a first time homebuyer, then you might be interested in this loan program! This program assists eligible buyers with $22,000 in down payment and closing costs.

Housing Our Workforce

This third program provides a one-to-one match of down payment made at the time of purchase up to $20,000 in matching grants toward down payment costs.

Learn more about these life-changing programs by clicking the button below!

MassDREAMS (discontinued)

What Is It?

This recently-created loan (created by MHP and MassHousing joining forces) could be the perfect opportunity for you! It offers up to $50,000 to be used towards:

• Closing Costs

• Prepaid and Down Payments

• Other Forms of Mortgage Assistance for Borrowers Currently Living in a Disproportionately Impacted Community within Massachusetts

NOTE: MassDREAMS has to be paired with either an MHP first mortgage product or a MassHousing first mortgage product. This helps you increase your purchasing power and your opportunity to become a first time homebuyer in the state of Massachusetts. Source: My Mass Home 

In Order To Qualify For This Program, You Must…

• Be a first-time homebuyer

• Pair it with wither an MHP first mortgage product or a MassHousing first mortgage product

• Meet income guidelines according to the mortgage product you pair it with

• Intend to use the property as your primary residence

• Complete a course for approved homebuyers

• Reside in any of these MA 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 and Worcester.