Interested in buying a home in Haverhill? MassHousing—along with the city of Haverhill and Haverhill Bank and with the help of the state’s Neighborhood Stabilization Program—is now offering a program that provides affordable financing as well as grant funds to help first-time homebuyers purchase and rehabilitate foreclosed homes in need of repairs in certain parts of the city.
In a nutshell, it works like this: first-time buyers purchase a home in designated neighborhoods of Haverhill using a MassHousing Purchase & Rehab loan and obtain a second loan, funded using NSP dollars, to cover rehabilitation costs. There’s no limit on the size of rehabilitation grants, which are forgiven as long as the buyer remains in the home.
Learn more about the City of Haverhill’s NSP Purchase & Rehabilitation Loan Program.