MassHousing has expanded its Down Payment Assistance Program, making it more impactful and more accessible than ever before.
The new features of MassHousing’s Down Payment Assistance (DPA) Program:
- Higher DPA Amounts: up to 5% of a home’s purchase price or $15,000, whichever is less
- Higher Income Limits: first-time buyers in Boston and the Commonwealth’s 26 Gateway Cities can earn up to 135% of the area median income limit (AMI) and be eligible for DPA. Borrowers in the remainder of the Commonwealth can earn up to 100% of AMI. Search income limits.
- More Property Types: Down Payment Assistance can be used to purchase a single-family home or condominium, as well as a 2-, 3- or 4-family home.
"Down payment assistance empowers homebuyers and expands homeownership opportunities for many Massachusetts households who have been shut out of the real estate market," said Mounzer Aylouche, MassHousing's Vice President of HomeOwnership Programs. "When we meet buyers where they are and equip them with the support and tools they need to succeed, we can achieve strong outcomes, for families and communities alike."
For more information, visit www.masshousing.com/dpa.