Financial Assistance for Homebuyers
Learn about our financial assistance programs for homebuyers, how to apply, and if you are likely to qualify.
If you are an income eligible first-time homebuyer, we may be able to provide financial help through one of our financial assistance programs.
43 hawkins street
boston, MA 02114
How to Qualify
To qualify for our programs, you need to plan to buy a one- to three-family residential property or condominium in Boston. The home must be your primary residence.
- be a first-time homebuyer (you haven't owned a property in the past three years)
- graduate from our Homebuying 101 class
- get a first mortgage pre-approval from one of our participating mortgage lenders (mortgage loan must adhere to the Fannie Mae general loan limits), and
- meet program income and asset limits.
Financial Assistance Programs
This program provides eligible home buyers with a deferred payment loan towards a down payment.
ONE+Boston offers low fixed interest rates for 30-year mortgages, down payment and closing-cost assistance to first-time buyers.
The program offers down payment, closing cost, and heating system repairs for older residents in the Allston and Brighton neighborhoods.
STASH is a matched-savings program for first-generation homebuyers below the area median income.
The Application Process
- Read all of the information above about the program you are applying for. Make sure you understand all of the program eligibility requirements, including income and asset limits.
- Read the program application and review the checklist. It includes important information about what you’ll need to include in order to submit that application.
- Register and complete the Homebuying 101 course. Completing the class is required to be eligible for any homebuyer loan program. Visit the Boston Home Center Classes page to connect with a class close to your neighborhood.
- Get a mortgage pre-approval from one of our participating mortgage lenders. Applicants are required to work with one of the approved lenders on the list to be eligible.
- Complete the application for your program and submit your documents.
Homebuying Classes and Workshops
The Boston Home Center offers both workshops and classes for homebuyers.
Boston Home Center Classes are separate from our workshops. Anyone is welcome to take these classes. The Homebuyer 101 class is required to apply for financing programs.
Workshops are hosted by Boston Home Center either online or in person. They cover various topics related to our programs and are recommended to those applying for any of our financing programs.