Down Payment & Closing Cost Assistance

For income-eligible homebuyers looking for a primary residence in Boston, this loan from the City of Boston’s Department of Neighborhood Development may offer financial help. Following the completion of a special Homebuying 101 class, borrowers can get up to $30,000 for a condo or 1-family, $35,000 for a 2-family, and $40,000 for a 3-family toward down payment and closing costs.

Offered through the Federal Home Loan Bank (FHLB) Boston, the Equity Builder Program offers grants to help buyers who are earning up to 80% of the area median income with down payment and/or closing costs. EBP can help make home ownership a reality for local families.  

Income-eligible Massachusetts buyers may qualify for down payment assistance of 10% of the home’s purchase price – up to $50,000 in Boston and the Gateway Cities, or up to $30,000 in other MA communities. Gateway Cities include Attleboro, Barnstable, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Framingham, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Randolph, Revere, Salem, Springfield, Taunton, Westfield, and Worcester.

For income-eligible first-time homebuyers purchasing a 1- or 2-family home or condo that will be used as a primary residence, and the home is located in one of the markets served by Dedham Savings or South Shore Bank may be able to assist with down payment costs.

All programs are offered on a first-come, first-served basis, while funds remain available. Individual program restrictions and income limits apply, all loans are subject to credit approval. Click here to learn more or contact Seanna Grant at 781.682.3704 or [email protected].