Massachusetts Down Payment Assistance (Option 3 DPA)

MassHousing offers Down Payment Assistance (Option 3 DPA) to first-time buyers in Massachusetts: up to $25,000, as a repayable loan.

Amount: As much as $25,000
Type of help: Loan you repay
Open to first-time buyers only: Yes
Course for homebuyers: Required

What does repayment look like for Massachusetts Down Payment Assistance (Option 3 DPA)?

It's a repayable loan: you pay monthly over 15 years at 3%. If you sell, refinance or pay off the main home loan, you owe whatever is left.

Every month you make a payment on this small second mortgage, a repayable loan that's usually combined with your main home loan payment.

Massachusetts Down Payment Assistance (Option 3 DPA): who can qualify?

To qualify, your income must fall between 80% and 135% of the area median income (AMI).
First-time buyers only, which usually means you haven't owned a home in the past three years.
You take a homebuyer education course before buying.
It's paired with a MassHousing Mortgage loan.

Your county and household size set most of the limits. Use our HUD income limits lookup to see the median income in your area and how your household compares.

Applying for Massachusetts Down Payment Assistance (Option 3 DPA)

Approved lenders handle the application: pick one for your home loan and MassHousing sends this help through them.
Your lender compares the home, your credit and your income with the program's rules, then sets the money aside for you.
At closing, the help is paid toward your closing costs and down payment.

Check the full rules and see if applications are open on MassHousing's page for Down Payment Assistance (Option 3 DPA), or choose one of the agency's participating lenders.

Massachusetts Down Payment Assistance (Option 3 DPA): ask a lender

Tell us where you're buying and a lender that works with Massachusetts's programs can tell you whether Massachusetts Down Payment Assistance (Option 3 DPA) fits you, and what you could combine with it.

Call 866-602-7460

Prefer not to talk by phone? Share your information; the lender will reach you.

More programs for first-time buyers in Massachusetts

Massachusetts Down Payment Assistance (DPA Option 1):
As much as $30,000, deferred loan.
Massachusetts Down Payment Assistance (DPA Option 2):
As much as $25,000, repayable loan.
Massachusetts $2,500 Closing Credit for Veterans and Service Members:
As much as $2,500, grant.

Every Massachusetts first-time home buyer program · Down payment help in every state