Find financial help for owning a home
Learn out about our downpayment assistance program for first-time homebuyers, educational classes and seminars, and whether you qualify.
Buying a home in Boston? If you are an income eligible first-time homebuyer, we may be able to give you financial help. The Boston Home Center can give you up to:
- $30,000 for a condo or a single-family
- $35,000 for a two-family, and
- $40,000 for a three-family home toward your downpayment and closing costs.
Our loans offer no interest. The loan is repaid when you refinance, or at the transfer of title, sale, or when you no longer keep the home as your primary residence.
To get help from us, you must use one of our participating lenders. Visit our guidelines and a list of lenders for more information. You can also contact us at:
The Boston Home Center
617-635-4663
HomeCenter@boston.gov
A home of her own
Thrilled by her new home in a vibrant, culturally diverse neighborhood, Massiel is amazed at her good fortune. Her five-year-old daughter’s future is secure.
Massiel applied for the Roxbury Tenants of Harvard Association, Inc. (RTH) lottery. With City of Boston-approved lender Santander Bank helping her to secure a MHP ONE mortgage and the Boston Home Center helping with downpayment and closing costs, Massiel is now celebrating the joy of homeownership in the kitchen in her own condominium.
Who is eligible?
To qualify for our program, you need to plan to buy a one- to three-family residential property or condominium in Boston. The home must be your primary residency for the term of the loan.
- 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.
- have household assets of no more than $75,000 excluding retirement, 401K, and approved IRS savings accounts
- have a household income that’s no more than 135 percent of the Area Median Income, and
- pay at least 1.5 percent of the purchase price on one- to two-unit properties, and 3 percent for three-unit properties. These funds must come from your own money.
How do I get started?
First, you'll have to take the Homebuying 101 class. You can sign up through our website, or through one of our approved partner agencies at the bottom of this page. Also, please join our Homebuyer Club!
Once you take the class, apply for mortgage pre-approval through our participating lenders. After you get approval, you can shop for a home and make an offer.
Apply for our downpayment assistance program before you close. You'll need to print out and complete the First-Time Homebuyer Financial Assistance Application. You may also need to fill out a No Income Affidavit and No Child Support Affidavit. The application includes detailed information about what you need to give us.
Applicants are strongly encouraged to submit their application electronically. The application will include instructions on how to submit your financial assistance application.
You can also mail your applications and documents to us. We’ll let you know in writing when we get your application. You can send everything to:
The Boston Home Center
Attn: Homebuyer Unit
26 Central Avenue
Hyde Park, MA 02136
Approved partner agencies
(For Homebuyer Classes)
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PARTNER |
CONTACT |
|---|---|
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18R Shepard Street Suite 100, Brighton 02135 Molly Goodman Phone: 617-787-3874 |
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38 Oak Street, Boston, MA 02111 Lee Lin Phone: 617-482-2380 x208 |
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587 Washington Street, Dorchester, MA 02124 Abadur Rahman Phone: 617-825-4224 |
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| Financial Education Associates |
PO Box 240249 Boston, Massachusetts 02124 Linda Warren Cato Phone: 888-839-0963 |
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1803 Dorchester Avenue, Dorchester, MA 02124 Symone Crawford Phone: 617-265-8995 x303 (Homeowner 201 and 202 Registration) |
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143 Border Street, Boston 02128 Carolina Suarez Phone: 617-418-8261 |
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56 Warren St., Suite 200, Roxbury, MA 02119 David Price Phone: 617-427-3599 |
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1542 Columbus Avenue, Suite 2, Roxbury, MA 02119 Ginny Gilmartin Phone: 617-989-9318 Fax: 617.648.0329 |
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| Vietnamese American Initiative for Development |
42 Charles Street, Dorchester, MA 02122 Linh Nguyen Phone: 617-822-3717 (All classes are in Vietnamese) |