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.

"Thanks to the City of Boston's leadership, ONE+Boston will substantially expand the impact of the ONE Mortgage Program, which has enjoyed strong support from the Baker-Polito administration and has helped more than 5,000 families become successful first-time homeowners in the City of Boston," said Clark Ziegler, executive director of the Massachusetts Housing Partnership (MHP), the quasi-public organization that helped create and administers ONE Mortgage. "The ONE Mortgage Program has been an incredibly impactful lending program for the community, empowering thousands of Massachusetts residents to purchase a place to call home," said Nancy Monbouquette, Vice President and Home Mortgage New England regional manager at Citizens Bank, a ONE+Boston participating lender. "We are pleased to continue working with such outstanding organizations like the City of Boston, Massachusetts Housing Partnership and Massachusetts Affordable Housing Alliance.

Milestone highlights City’s comprehensive approach to expanding homeownership The Mayor’s Office of Housing today announced that the ONE+Boston Homebuyer Program has reached a major milestone, helping its 1,000th Boston resident purchase a home. The program, offered through the Boston Home Center in partnership with the Massachusetts Housing Partnership (MHP), provides low- to moderate-income, first-time homebuyers with more affordable mortgage options to help in the purchase of a home. “Boston is proud to celebrate 1,000 families who have been able to become first-time homeowners through their determination and resilience, and with the supports of this critical program. Reaching this important milestone shows the impact of a coordinated approach to housing,” said Mayor Michelle Wu. “We are not just helping residents buy homes; we are providing the tools and support needed at every step, from preparing to purchase, to staying in their homes long-term. ONE+Boston is an important part of that work.” “This milestone is a testament to the strong partnership between the City, lenders, and community organizations working together to make homeownership more accessible for Boston residents,” said MHP Director of Homeownership, Elliot Schmiedl.  “We are committed to building on this momentum to help even more families achieve affordable homeownership.” ONE+Boston is the City of Boston’s enhanced version of the ONE Mortgage program and is one of several tools the City uses to help residents achieve homeownership. Through the program, eligible buyers receive fixed-rate mortgages with low down payment requirements, no private mortgage insurance, and City-funded down payment and closing cost assistance. Participants also complete homebuyer education and receive guidance through the Boston Home Center to help them successfully navigate the homebuying process. “This milestone represents 1,000 Boston households who now have a stable place to call home and a pathway to build generational wealth,” said Chief of Housing Sheila A. Dillon. “ONE+Boston is a critical part of our broader efforts to expand access to homeownership. By pairing financial assistance with education and support, we are helping residents overcome barriers and succeed not just in buying a home, but in sustaining it over time.” The ONE+Boston program is part of a comprehensive suite of homeownership programs and services offered by the City. Through the Boston Home Center, residents can access homebuyer education courses, financial counseling, and down payment assistance programs that help prepare them for purchasing a home. The City also supports current homeowners through foreclosure prevention resources, home repair and rehabilitation programs, and guidance to help residents maintain safe, stable housing. Together, these programs reflect the City’s commitment to promoting housing stability, preventing displacement, and creating more equitable access to homeownership opportunities across Boston’s neighborhoods. Under Mayor Michelle Wu’s leadership, Boston has made historic progress toward creating and preserving homes that residents can afford. Since the start of her first term, the City has produced or begun construction on more than 18,000 new homes, including thousands of income-restricted units, and has launched new policies to make it easier, faster, and less expensive to build housing across every neighborhood. Mayor Wu has directed record levels of investment to prevent displacement, expand affordable homeownership, and support renters and homeowners who face housing instability. Through innovative programs like the Housing Accelerator Fund, Welcome Home Boston, and the Housing with Public Assets initiative, the City is finding new ways to create housing on public land, convert vacant buildings into homes, and support residents in building wealth and stability. The Mayor’s focus on climate and health has also made Boston a national leader in green and energy-efficient housing. Together, these efforts are helping to make Boston a city where every resident can have a safe, stable, and affordable home, and where communities can grow stronger for generations to come.

One+ Boston Mortgage Program is Helping Bostonians Buy Homes and Build Wealth A graphic highlighting the ONE+ mortgage program In June 2020, the City of Boston rolled out the ONE+Boston mortgage program. One+Boston gives income qualified, first-time Boston homebuyers a greater ability to purchase a home in Boston by combining a discount on a low-interest rate mortgage product with enhanced down payment and closing assistance. The ONE+Boston program is Boston's first affordable mortgage product to be created specifically for low- and moderate-income first-time homebuyers who currently live in Boston, and are purchasing a home within the city limits. So far, the Boston Home Center has helped more than 160 Bostonians successfully purchase new homes. Of these new homebuyers, more than 70% of those helped by the ONE+Mortgage Program are from households of color, and 53% of the new homebuyers earned at or below 80% of AMI or $80,850 for a two-person household.

City program makes homeownership more accessible by supporting co-buying of multifamily properties, announced alongside other priorities to make Boston a home for everyone. During her 2025 State of the City Address, Mayor Michelle Wu announced the launch of the Co-Purchasing Housing Pilot Program, a new initiative aimed at increasing access to affordable homeownership opportunities in Boston. The program allows multiple households to combine their collective purchasing power to buy multifamily homes, providing a pathway to homeownership for more Boston residents, fostering community, affordability, and stability. Using innovative solutions to lower barriers for homeownership is an essential part of Mayor Wu’s strategy to make Boston a home for everyone.  "Boston's housing market has created significant barriers for middle-income families, particularly those from historically marginalized communities,” said Mayor Michelle Wu. “Through the Co-Purchasing Pilot Program, we are creating opportunities for residents to pool their resources and build generational wealth together. This program represents one of many steps toward ensuring Boston remains a city where everyone can thrive." The Co-Purchasing Housing Pilot Program is part of Boston’s broader housing strategy, with this program aimed at supporting middle-income residents who are often priced out of the city’s housing market. The pilot program will assess applicants individually for program eligibility, but allow households to leverage their combined purchasing power to buy multifamily properties, expanding homeownership opportunities to more residents and families. This innovative program will not only make homeownership more accessible but it will also strengthen communities by allowing homeowners to compete with the increasingly large number of investors that are buying Boston’s multifamily housing.  "Homeownership is one of the most effective ways to build wealth and secure long-term stability, yet for many Boston residents, it feels out of reach,” said Sheila A. Dillon, Chief of Housing. “This program opens up new possibilities by helping families work together to achieve what may have seemed impossible on their own.”  Those participating in the program can receive up to 5% of their share of the purchase price as a deferred loan, issued by the Boston Home Center, to cover the costs of down payment and closing costs. To qualify, participants must be first-time homebuyers and agree to live in the property as their primary residence. A co-ownership agreement signed by all parties must also be included in the application. The City’s new Guide to Co-Purchasing describes what the co-ownership agreement needs to include.  Additionally, the City has secured partnerships to support participants with financing. Co-purchasers are welcome to work with the lender of their choosing, though Citizens Bank, NewFed Mortgage, MEP Loans, Prime Lending, and Salem Five have agreed to participate in the program. “The current housing supply in Massachusetts continues to be a challenge, even more so for middle-income families looking to buy in Boston,” said Vincent Gregory, Senior Vice President of Salem Five Mortgage Company. “The creation of programs, such as this will help those families obtain their dream of homeownership.  Growing up in East Boston, it was common for multi-generational families to live under one roof and split expenses.  As time moved on, the younger households were able to save enough money, start new families and purchase their new multi family home within the city. This new program will help bring those core values back to the city and promote more owner-occupied homes to families who might not have been able to afford them.” “This pilot co-purchasing program is a concrete step towards making Boston more affordable to families,” said Bart Reddington, Sr. Mortgage Planner, NewFed Mortgage Group. “The Boston Home Center and the Mayor’s Office of Housing have come up with a creative way to generate more equity in the Boston Real Estate Market.” "Many first-time buyers in Boston are financially ready to own but face steep prices. This initiative offers a way to pool resources and increase buying power, making homeownership accessible to those who might otherwise be priced out,” said Jessica Ingram-Bee, a Boston-based real estate agent specializing in co-housing. “Beyond the financial benefits, it can also foster a sense of community—allowing friends, couples, and families to share responsibilities and create an affordable living arrangement.  I’ve heard successful co-buyers talk about babysitting for each other, sharing childcare, and even coming together for weekly dinners. This model not only helps people afford a home but also fosters a sense of community and mutual support. That is so needed in today's world." This program builds on Mayor Wu’s commitment to tackling disparities in homeownership rates, particularly among residents of color. By supporting more residents to own homes, the Co-Purchasing Pilot is a step toward closing the racial wealth gap, helping residents build wealth, and ensuring housing stability for generations to come. Between 2022 and 2024, the Wu administration has helped 804 Boston residents become homeowners through expanded homeownership programs. The residents who have become homeowners bought income-restricted homes, market-rate homes, and/or received financial assistance, including downpayment assistance and participation in the One+ Boston mortgage program. The City has also increased its affordable homeownership pipeline, with more than 1,800 new homes completed, in construction, or in the pipeline between 2022 and 2024. The Co-Purchasing Pilot Program is administered by the Boston Home Center in collaboration with the Housing Innovation Lab. For more information, including eligibility requirements and application details, residents can visit boston.gov/co-purchasing or contact the Boston Home Center at 617-635-3880.

Homeownership rates differ significantly by race and ethnicity, as 44 percent of Boston's white households are homeowners, compared to 31 percent of Black or African American households, 30 percent of Asian or Pacific Islander households, and 17 percent of Hispanic or Latinx households. The Mayor's Office of Housing works to expand access to homeownership by creating and preserving affordable homeownership units and providing financial assistance to aspiring homebuyers, particularly first-generation homebuyers. The ONE+Boston program was designed to supplement one of the state's existing affordable mortgage programs (the ONE Mortgage) by providing qualified buyers, based on area median income (AMI), additional discounts on interest rates. With the ONE+Boston program, qualified Boston residents who earn between 80% and 100% AMI will receive a half percent (0.5%) discount rate off the reduced interest rate offered through the ONE Mortgage product (currently about 4.65%). Boston residents who earn below 80% AMI will receive up to one percent (1%) off of the current ONE Mortgage rate.

You also need to: 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. Applicants may be deemed ineligible if, based on household total assets, there is no demonstrated need. Financial Assistance Programs first-time homebuyer Program This program provides eligible home buyers with a grant towards a down payment. Learn more about first-time homebuyer program One+Boston Homebuyer Program ONE+Boston offers low fixed interest rates for 30-year mortgages, down payment and closing-cost assistance to first-time buyers. Learn more about ONE+Boston First Generation Homebuyer Program (STASH) STASH is a matched-savings program for first-generation homebuyers below the area median income.

Scan the QR code to learn more about CPA! Page 9 Boston ONE+ Homebuyer Program Affordable Housing 2019 Citywide Boston Home Center CPA Award: $3800000 Description of Project: ONE Plus Boston Program to help first-time homebuyers in Boston receive a lower interest rate on the current MassHousing ONE mortgage product and ...

This program provides eligible home buyers with a grant towards a down payment. The First-Time Homebuyer Program provides income-eligible homebuyers in Boston with financial assistance.  For those with income less than 100 percent of Area Median Income, the grant amount is three percent of the purchase price, maximum of $50,000, plus closing costs if applicable. For those with income between 101 and 135 percent of AMI, the grant amount is two percent of the purchase price, with a maximum amount of $35,000. Please note: if the qualified buyer is purchasing a deed-restricted property, the grant amount will be two percent of the purchase price.  Please use this button complete an application. Apply for the First-Time Homebuyer Program

Scan the QR code to learn more about CPA! Page 9 Boston ONE+ Homebuyer Program Affordable Housing 2019 Citywide Boston Home Center CPA Award: $3800000 Description of Project: ONE Plus Boston Program to help first-time homebuyers in Boston receive a lower interest rate on the current MassHousing ONE mortgage product and ...