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assHousing has expanded its Down Payment Assistance (DPA) mortgage program, offering up to $25,000 in down payment assistance to all income-eligible first-time homebuyers purchasing a first home in any Massachusetts city or town. This expansion makes MassHousing's DPA program the largest statewide homebuyer assistance program in Massachusetts for moderate- and middle-income homebuyers.

    According to MassHousing CEO Chrystal Kornegay, "Down payment assistance is a vital tool for empowering first-time homebuyers and advancing our commitment to expanding access to homeownership." The expanded program will grow consumer buying power and help ensure that homeownership remains accessible to working families across Massachusetts.

    MassHousing's DPA financing of up to $25,000 was previously available statewide to new homebuyers earning under 80 percent of the area median income. However, middle-income homebuyers earning more than 80 percent of the area median income could only access down payment assistance when buying a new home in a Gateway City or Boston and Randolph. The new program removes these geographic restrictions for middle-income residents.

    Income limits for the expanded DPA program vary by county: up to $205,335 in eastern Massachusetts, $165,645 in Worcester County, $160,650 in Hampshire County, and $129,870 in Hampden County. MassHousing's DPA is only available to qualified first-time homebuyers utilizing a MassHousing first mortgage to purchase a home.

    The expanded program offers robust down payment assistance options to all homebuyers served by the Agency. Homebuyers earning up to 60% of the Area Median Income (AMI) can access up to $30,000 in DPA with deferred repayment terms and a zero percent interest rate. Those earning between 80% and 135% of AMI can access up to $25,000 in statewide DPA financing at a 3 percent interest rate.

    Over the past five years, MassHousing has provided nearly $3 billion in first-mortgage financing to roughly 9,800 low-, moderate- and middle-income Massachusetts households. The Agency has also provided over $122 million in down payment assistance to 6,300 new first-time homebuyers during that time.