The City wants to increase the buying power of income-eligible, first-time homebuyers purchasing a home within the city of Boston. Mayor's Office of Housing Boston Home Center BHC-OnePlus@boston.gov 617-635-4663 26 Court Street Boston, MA 02108 MONDAY THROUGH FRIDAY, 9 AM - 5 PM 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 discounted 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 A chart that compares conventional mortgages, One mortgages, and ONE+Boston mortgages. Applying for the program Is ONE+Boston for me? Are you a current Boston resident? Are you a first-time homebuyer? You can qualify if you haven't owned a home in the last three years.

Financial Assistance for Homebuyers https://www.boston.gov/departments/housing/find-financial-help-owning-home 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.

"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.

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.