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
- Up to $25,000
- Kind of help
- Repayable loan
- First-time buyers only
- Yes
- Homebuyer course
- Required
How is Massachusetts Down Payment Assistance (Option 3 DPA) paid back?
Repayable loan: monthly payments over 15 years at 3%. What is left is due if you sell, refinance or pay off your main home loan.
A repayable loan is a small second mortgage you pay off each month, usually in the same payment as your main home loan.
Who qualifies for Massachusetts Down Payment Assistance (Option 3 DPA)?
- Your income must be between 80% and 135% of area median income (AMI).
- Only for first-time buyers (usually no home owned in the past three years).
- A homebuyer education course before you buy.
- It comes with a MassHousing Mortgage loan.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for Massachusetts Down Payment Assistance (Option 3 DPA)
- MassHousing pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on MassHousing's page for Down Payment Assistance (Option 3 DPA), or pick a lender from the agency's list of participating lenders.
Ask a lender about Massachusetts Down Payment Assistance (Option 3 DPA)
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.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Massachusetts
- Massachusetts Down Payment Assistance (DPA Option 1): up to $30,000, deferred loan.
- Massachusetts Down Payment Assistance (DPA Option 2): up to $25,000, repayable loan.
- Massachusetts $2,500 Closing Credit for Veterans and Service Members: up to $2,500, grant.
All Massachusetts first-time home buyer programs · Down payment assistance in every state