Massachusetts offers several first-time homebuyer programs to assist individuals in purchasing their first home. These programs aim to make homeownership more affordable and accessible for first-time buyers.

Massachusetts Housing Partnership (MHP) ONE Mortgage Program

The MHP ONE Mortgage Program is a popular choice for first-time homebuyers in Massachusetts. It provides low-interest mortgages with down payment assistance. Eligible borrowers can finance up to 97% of the purchase price, reducing the upfront costs.

Massachusetts Housing Finance Agency (MassHousing) Loans

MassHousing offers various loan programs tailored to first-time homebuyers. The "Operation Welcome Home" program provides affordable financing options with down payment assistance. The "MassHousing Mortgage with No MI" program eliminates the need for private mortgage insurance, reducing monthly payments.

Massachusetts Department of Housing and Community Development (DHCD) Programs

The DHCD offers several programs to support first-time homebuyers. The "SoftSecond Loan Program" provides a deferred payment second mortgage, reducing the upfront costs. The "Homeownership Voucher Program" offers rental assistance to eligible first-time buyers transitioning from subsidized rental housing to homeownership.

Local First-Time Homebuyer Programs

In addition to state programs, many cities and towns in Massachusetts offer their own first-time homebuyer assistance programs. These programs may include down payment assistance, closing cost assistance, or special loan programs. It's recommended to check with the local housing authorities or community development offices for specific details.

For more information and to explore other first-time homebuyer programs in Massachusetts, you can visit the official websites of the Massachusetts Housing Partnership, Massachusetts Housing Finance Agency, and the Department of Housing and Community Development.

References:

1. Massachusetts Housing Partnership
2. Massachusetts Housing Finance Agency
3. Massachusetts Department of Housing and Community Development