Massachusetts First-Time Home Buyer Guide 2026
Everything Massachusetts first-time buyers need to know: MassHousing’s Mortgage program, Down Payment Assistance options, MIPlus payment protection, and income and purchase price limits.
MassHousing Down Payment Assistance
MassHousing’s Down Payment Assistance program offers three structures, each paired with a MassHousing first-mortgage loan, giving buyers flexibility between a deferred no-payment option and lower-balance amortizing alternatives.
| Feature | Detail |
|---|---|
| Deferred Payment Loan | Up to $30,000 at 0% interest; no monthly payment; due at sale, refinance, or payoff |
| Amortizing Option A | Up to $25,000 at 2% interest, amortized over 15 years |
| Amortizing Option B | Up to $25,000 at 3% interest, amortized over 15 years |
| Eligible first mortgage | Must be paired with a MassHousing Mortgage |
Veterans and active-duty service members purchasing with a MassHousing Mortgage may also qualify for an additional $2,500 closing cost credit on top of Down Payment Assistance.
MassHousing Mortgage and MIPlus
MassHousing’s flagship mortgage product is offered through a network of more than 80 participating lenders statewide. It includes MIPlus, a built-in mortgage payment protection benefit that can help cover a portion of the monthly payment for a limited time if the borrower becomes involuntarily unemployed.
Current MassHousing Mortgage rates, participating lenders, and MIPlus terms are confirmed directly at masshousing.com.
Income and Purchase Price Limits
MassHousing Mortgage and Down Payment Assistance are subject to household income limits, which vary by household size and location, up to a statewide ceiling of $209,250. Purchase price limits also apply and vary by area. Confirm your specific limits directly with a MassHousing-participating lender.
Eligibility Requirements
- Purchase must be a primary residence in Massachusetts
- Household income at or below the applicable MassHousing limit for your area and household size
- Completion of a homebuyer education course is required for Down Payment Assistance
- Credit and debt-to-income requirements are set by the participating lender
Step-by-Step Buying Process
- 1. Get pre-qualified with a MassHousing-participating lender to confirm your income eligibility and loan amount
- 2. Complete a homebuyer education course, required for Down Payment Assistance applicants
- 3. Shop for your home within the purchase price limits for your area
- 4. Apply for MassHousing Mortgage and Down Payment Assistance together through your lender
- 5. Close on your home with a Massachusetts-licensed attorney conducting or supervising the closing
