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ONE+Boston Homebuyer Program
This mortgage program provides low interest mortgages to qualified Boston homebuyers.
ONE+Boston offers the lowest fixed interest rates available for a 30-year mortgage. Additionally, it provides access to downpayment and closing-cost assistance. The City wants to increase the buying power of income-eligible, first-time homebuyers purchasing a home within the city of Boston.
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43 Hawkins street
boston, ma 02114
MONDAY THROUGH FRIDAY, 9 A.M. - 5 P.M.
What is ONE+Boston?
A mortgage with a heavily discounted fixed interest rate
Using funds provided by the City of Boston, the ONE+Boston interest rates are 0.5% to 1% below the already discounted ONE Mortgage rates.
Includes enhanced downpayment assistance
For those first-time homebuyers who qualify, the City of Boston’s financial assistance will offer enhanced downpayment and closing cost assistance.
Afford More When Buying a Home in Boston
| Mortgage Type | Conventional | One Mortgage | ONE+ Boston |
|---|---|---|---|
| Purchase Price | $306,000 | $397,000 | $450,000 |
| Your Down Payment Funds | $15,300 | $5,955 | $6,750 |
| Interest Rate | 3.5% | 3% | 2% |
| Private Mortgage Insurance | $322 | $0 | $0 |
| Taxes and Hazard Insurance | $361 | $467 | $527 |
| MHP Interest Subsidy | $0 | -$102 | -$104 |
| Total Monthly Payment | $1,989 | $1,989 | $1,989 |
Applying for the program
Is ONE+Boston for me?
- Are you a current Boston resident, have resided in Boston in the past two years, or do you work in Boston?
- Are you a first-time homebuyer? You can qualify if you haven’t owned a home in the last three years.
- Do you meet all of the qualifying requirements for ONE+ Boston Mortgage, including our income limits? Visit MHP’s ONE+Boston webpage.
What are my next steps?
- Find out if you are eligible. Visit the One+Boston website for a full list of qualifications.
- Take a homebuyer class. Complete an approved pre-purchase homebuyer education class before applying.
- Find a participating lender and meet with them to determine your eligibility for ONE+Boston. Please contact a lender before coming to the Boston Home Center for downpayment and closing cost assistance.
