Coming soon: Up to $25,000 in down payment assistance for first-time buyers in Gateway Cities and Boston 

On November 15th, MassHousing launched its most generous down payment assistance program yet.

Currently, qualified buyers can obtain down payment assistance of up to 5% of the purchase price or $15,000, whichever is less, if they qualify for a MassHousing mortgage

It is already a remarkable advantage for cash-strapped buyers in a high-cost state. 

In the coming weeks, eligible buyers will benefit from even more down payment aid.  First-time buyers who purchase a property with a MassHousing loan in a Gateway City or in Boston, can obtain down payment assistance of up to 5% or $25,000, whichever is less. The maximum assistance for buyers in all other communities will remain at $15,000.

There are 26 Gateway Cities in Massachusetts. They range from larger cities like Worcester and Lowell to smaller cities like Springfield, Brockton, Westfield and Quincy, for example.

“The newly enhanced ‘Workforce Advantage’ mortgage with down payment assistance from MassHousing will make it easier for buyers who have struggled to save for a down payment,” said Mounzer Aylouche, MassHousing’ s Vice President for Home Ownership. “This is an extraordinary opportunity for buyers who have been left out of the home buying process due to the continually rising prices of homes and condos in recent years.”

The more generous down payment assistance is the most obvious of several new features, but buyers will get other benefits from the new loan as well. 

MassHousing will pay the borrower’s mortgage insurance premium, so buyers will have no MI payments. But, since they will still have mortgage insurance in place, they will receive MassHousing’s proprietary job-loss protection (called MIPlus). It gives the homeowner peace of mind knowing that MassHousing will make the principal and interest payments for up to six months if the homeowner becomes unemployed and is receiving unemployment benefits. More information on MIPlus is available here. 

The enhanced down payment assistance comes in the form of a 0%, deferred loan that is only due upon sale or refinancing. The borrower will only make monthly payments on the first mortgage loan.

MassHousing offers other statewide mortgage loans with varying income limits and down payment amounts. For example, a purchase and renovation loan combines the purchase of a property as well as the financing for upgrades. It is perfect for the fixer-upper, which comes with a lower price but the need for immediate renovations.

Interested in having one of MassHousing’s home ownership experts contact you for a virtual presentation to your team?  Send an email to For more information on the many affordable home financing products and services from MassHousing, visit

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