Update: As with any program, the powers that be regularly review their first time home buyer benefits to make sure that they meet the needs of their residents. The list below is in a series of updates, with the original published in June 2015. Please note that the locations may also have programs for homes occupied by owners, investors, and others that are not listed here.
Introduction
Buying a new home is a giant financial step – but one you do not need to make all by yourself. There are many first-time home buyer benefits in Massachusetts and Rhode Island aimed at helping you meet the dream of home ownership. You may be eligible for a first-time buyer program, first-time home buyer down payment assistance, closing cost assistance, tax credit and/or grant.
Massachusetts
Statewide and Regional Programs
- Good Neighbor Next Door: This program, offered by the HUD, allows certain groups of workers, such as law enforcement officials and fire fighters, to be eligible as homeowners with a huge discount from the listed price.
- MassHousing: Provides affordable mortgage financing to low- and moderate-income home buyers. It also offers a lender-paid mortgage insurance program as well as programs for veterans and home rehab.
- Massachusetts Housing Partnership: ONE Mortgage Program with first time home buyer benefits.
- Massachusetts Department of Housing and Community Development: Offers mortgage, down payment, and closing cost information for first time home buyers.
- Massachusetts Housing Consumer Education Centers: Helps clients locate the nearest center that offers home buyer classes.
- Massachusetts Affiliates of Habitat for Humanity: Build and rehabilitate houses for families in need with the help of volunteers.
- U.S. Department of Agriculture Rural Housing: Offers first time home buyer benefits in rural communities.
Programs by City or Town
Allston Brighton
- Allston Brighton CDC: This group strives to build a string and inclusive community through homebuyer education courses and a program designed to increase owner occupancy while decreasing the fees associated with home ownership.
Arlington
- Affordable condos for a first time buyer: Contact Jennifer Raitt, Affordable Housing, at (781) 316-3090 or jraitt@town.arlington.ma.us.
- Down payment assistance and counseling
Boston
- Neighborhood Homes Initiative: Uses land owned by the city to create affordable homeownership opportunities for middle-class homebuyers.
- Down payment and closing costs assistance, education classes.
Brockton
- First Time Homebuyer Program: Offers financial assistance to eligible first time homebuyers to help with down payment and closing costs using a zero-interest deferred loan.
Cambridge
- Includes classes and counseling for first-time home and condo buyers, financial and down payment assistance, affordable mortgage products, and more.
Easton
- Offers home buyer assistance programs, referral lists for various mortgage options, and more.
Fall River
- HomeBuyer — HOME Program: Home buyer assistance loan. For one to four-family properties, manufactured or mobile homes, condominiums or cooperatives located in Fall River, meeting the FHA Mortgage Limits for the area.
Fitchburg
- Housing programs: Administers funds for rehabilitation of owner occupied housing, first time home buyer acquisition and rehabilitation, rental property rehabilitation and demolition.
Framingham
Gloucester
- Gloucester Affordable Housing Trust Fund: Supports the creation, preservation, and maintenance of affordable housing in Gloucester.
Haverhill
Holyoke
- Community development: Resources relating to buying a home, home buying education, and down payment assistance.
Lawrence
- Housing Programs: programs for home development funding, first time home buyer down payment assistance, home rehabilitation, and emergency programs for seniors and the disabled.
Lowell
Lynn
- Neighborhood Services: Offers pre-purchase workshops, down payment and closing cost assistance, and more.
Malden
- Offers first time home buyer down payment assistance loans.
Medford
- Provides first time home buyer workshops, as well as help with down payment and closing costs.
Melrose
- Offers down payment and closing cost assistance, as well as workshops for first time buyers, and other home buying opportunities.
New Bedford
- “Neighborhoods First” First Time Home buyer program.
Newton
- Home buyers’ assistance program
Peabody
Plymouth
- Workforce Housing/American Dream Buy-down program: Helps address the housing needs of existing residents.
Quincy
Salem
- Services include a first time buyer down payment assistance program, home rehabilitation loan program, foreclosure help, energy savings, and more.
Somerville
- Programs include special affordable housing opportunities, first time home buyer down payment and closing cost assistance, education and workshops.
Springfield
- Down payment assistance and home buyer programs.
- Buy Springfield Now program: Offers knowledge and discounts to help families buy homes in Springfield.
Taunton
Weymouth
- Includes a first time buyers program, home rehabilitation loans, and more.
Worcester
Rhode Island
Statewide and Regional Programs
- Rhode Island Housing: Provides a first time home buyer benefits program, including first time home buyer down payment and closing cost assistance.
- Rhode Island Affiliates of Habitat for Humanity: Build and rehabilitate houses for families in need with the help of volunteers.
- U.S. Department of Agriculture Rural Housing: Offers home buyer programs in rural communities.
Programs by City or Town
Cranston
- Programs for first time home buyers, down payment and closing cost assistance, and more.
Providence
- For home buyers: Down payment and closing cost assistance programs.
Woonsocket
- Woonsocket First HOME Down Payment Assistance Program (for first time buyers)
Additional Programs
Blackstone Valley Community Action Program
Posted by Shamrock Home Loans on
