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Community Stabilization Fund

This program helps low- and moderate-income Bostonians purchase homes in Fenway, Mission Hill, and Roxbury neighborhoods.

 

The Community Stabilization Fund offers buyers purchasing in specific zip codes up to an additional 10% of the purchase price of a home that can be used towards down payment or closing costs. These funds can be combined with other BHC down payment assistance programs. Please use the button below to complete an application.

Apply for the Community Stabilization Fund

Eligibility

To qualify for Boston Home Center funding 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.

Priority will be given to current or previous residents of the zip codes listed. Previous residents may be eligible for this assistance, if they are able to provide proof of previous residence such as a lease or utility bill and be certified by Mission Hill Housing Services, Inc., Madison Park Development Corporation, or Fenway Forward.

YOU MUST ALSO:
  • Be a first-time homebuyer (you haven't owned a property in the past three years)
  • Graduate from a Homebuying 101 class
  • Have a mortgage pre-approval from one of our participating mortgage lenders (mortgage loan must adhere to the Fannie Mae general loan limits)
  • Have combined total household income less than or equal to 100% Area Median Income (AMI)
  • Meet all Boston Home Center down payment assistance guidelines and eligibility requirements
  • Be a current Boston resident
  • Be buying in one of the zip codes below in Roxbury, Mission Hill, and Fenway. 
    • 02115 (Fenway, Back Bay, Longwood)
    • 02118 (Roxbury, South End)
    • 02119 (Roxbury)
    • 02120 (Mission Hill) 
    • 02215 (Fenway)

AMOUNT OF ASSISTANCE

Up to an additional 10% of the purchase price from this fund that can be used towards downpayment or closing costs. 

These funds can be combined with the Boston Home Center’s downpayment assistance program, which is needs based, or used independently with the following additional funding sources if applicable:

The Application Process

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. Complete the Community Stabilization Fund Application and submit your documents.
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