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 an updated list of the original list, published in June 2015. Also 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, down payment assistance, closing cost assistance, tax credit and/or grant.
Massachusetts
Statewide and Regional Programs
- 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
Arlington
- Affordable condos for a first time buyer: Contact Laura Wiener, Arlington Director of Housing, at 781 316-3091 or lwiener@town.arlington.ma.us.
- Down payment assistance and counseling
Boston
- Neighborhood development: Includes classes, financial assistance programs, and more.
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.
- MassHousing: Provides home ownership information, a guide about the home buying process, information on MassHousing loans for those with a moderate income, plus an affordable housing search.
Fall River
- Home buyer — HOME Program: 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
- Community Development Block Grant program (CDBG): Provides 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
- Includes programs for home development funding, down payment assistance, home rehabilitation, and emergency programs for seniors and the disabled.
Lowell
- Down payment assistance
Lynn
- The Realizing the Dream of Homeownership Program: Helps eligible lower-income first time buyers to purchase of a home or condo, among other aspects.
Malden
- First Time Home Buyer down payment assistance loans
Medford
- Provides a first time home buyer workshops, as well as help with down payment and closing costs
Melrose
- Offers grant and loan programs, financial assistance, down payment and closing cost assistance, workshops for any first time buyer, and other home buying opportunities.
New Bedford
- “Neighborhoods First” First Time Home buyer program
- Massachusetts Housing Partnership (MHP) “ONE” Program
- MassHousing Programs: For more information about a first-time home buyer benefits or education classes, contact the Office of Housing and Community Development at 508-979-1500.
Newton
- Home buyers’ assistance program
Peabody
- Massachusetts Housing Partnership (MHP)
- MASSADVANTAGET
- Transit Oriented Home Mortgage Loans
- Municipal Mortgage Program
- MASSADVANTAGET Purchase and Rehabilitation Program
For details about these programs, visit the City of Peabody web site.
Plymouth
- Workforce Housing/American Dream Buy-down program: Helps address the housing needs of existing residents. For additional information call (508) 747-1620 x 148.
Salem
- Services include a first time buyer down payment assistance, home rehabilitation, foreclosure help, energy savings, and more.
Somerville
- Somerville Community Corporation First – Time Home buyer Seminar
- CHAPA – Home ownership Education Workshop
- MAHA home ownership class
Springfield
- Down payment assistance program
Taunton
- HUD HOME Program link
- MassHousing
- Housing Rehabilitation
Weymouth
- Includes a first time buyer program, plus a home rehabilitation loan and grant.
Worcester
- HOME Affordable Housing Development
- Lead paint abatement: Eligibility & Requirements
Rhode Island
Statewide and Regional Programs
- Rhode Island Housing: Provides a first–time home buyer benefits program, including 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
- Community Development
- Housing Rehabilitation Loan Program
- First Time Home Buyers Program
- Closing Cost Assistance Program
- Down Payment Assistance Program
For details about each program, visit the City of Cranston website. For additional information, contact Fran Falcone at 401-461-1000 Extension 7205, or email at ffalcone@cranstonri.org.
Providence
- For home owners: Offers loan programs for certain home repairs, including and reducing lead hazards.
- For home buyers: Down payment and closing cost assistance programs.
- For developers: Financial assistance available to both for-profit and non-profit developers for land acquisition and development of affordable and moderate income housing.
Woonsocket
- Woonsocket First HOME Down Payment Assistance Program (for first time buyers)
Additional Programs
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