Bootcamp For Buyers

First Time Homebuyer Programs in Massachusetts

Massachusetts offers a variety of first-time homebuyer programs through MassHousing and other local initiatives to make homeownership more affordable. These programs provide down payment assistance, competitive mortgage rates, and tailored benefits for new buyers.

MassHousing Mortgage Program

The MassHousing Mortgage Program offers fixed-rate loans with favorable terms for first-time buyers.

  • Features 30-year fixed-rate mortgages with low interest rates.
  • No private mortgage insurance (PMI) required, reducing monthly costs.
  • Includes mortgage payment protection in case of job loss.

Down Payment Assistance Program

The Down Payment Assistance Program helps buyers with upfront homebuying costs.

  • Provides up to $50,000 in down payment assistance for eligible buyers in Boston, Cambridge, Chelsea, and Somerville.
  • Offers up to $30,000 in other communities statewide.
  • Assistance is structured as a 15-year loan at 0% interest, forgivable after 15 years.

Operation Welcome Home

The Operation Welcome Home program is tailored for veterans, active-duty military, and National Guard members.

  • Provides discounted interest rates and low down payment requirements.
  • Can be combined with MassHousing Mortgage and Down Payment Assistance programs.
  • Supports those who have served in the armed forces.

Massachusetts’s first-time homebuyer programs are designed to make homeownership more accessible and affordable. Explore these options to find the perfect fit for your needs and take the first step toward owning your dream home in the Bay State.