First Time Home Buyer Programs

There are a number of programs available for first time home buyers in Massachusetts.

FreshRate is an affordable loan program offering 4% of the loan amount for down payment and closing cost assistance to those who qualify.

MassAdvantage requires only a 3% down payment and has an interest rate that is always below what conventional lenders can offer. Offered through MassHousing, there is more flexibility when considering your financial situation, your other debts and your credit history.

MassAdvantage 100 provides the same benefits of MassAdvantage with no down payment required.

MassHousing's Purchase and Rehabilitation loan program covers the purchase price plus necessary rehabilitation costs for those looking to purchase a home in need of major repair. These loans are available through MassHousing-approved Rehabilitation Lenders.

SoftSecond gives first time homebuyers increased purchasing power through two mortgages: a conventional first mortgage and a subsidized second mortgage. This lowers the primary mortgage and allows homebuyers to avoid private mortgage insurance, thereby reducing overall monthly expenses. SoftSecond requires a 3% down payment of which 1.5 % must be your own money, while the other 1.5% can be gifted.

The AmeriDream Down Payment Gift Program provides the down payment for qualified first time homebuyers. Run by a non-profit organization, this program requires the builder/seller to enroll in the program.

The Nehemiah Program provides gift funds for down payment and closing costs to qualified homebuyers using an eligible loan program such as FHA.; This program also requires seller enrollment.

The Homebuyer Counseling Program educates first time buyers in the complexities of the home buying process and prepares them for the responsibilities of ownership.

Find a buyer agent who has expertise in working with first-time homebuyers.


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