Massachusetts First-Time Home Buyer Programs of 2021

Jan 1, 2021
Massachusetts First-Time Homebuyer Programs

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Buying a house in Massachusetts can seem like an impossible goal, especially if you’re a first-time home buyer, have low to moderate income or have struggled to save for a down payment.

The good news is there are several mortgage programs, local and national, designed to help first-time home buyers and others achieve their homeownership goals in the Bay State.

National first-time home buyer loans

Available through lenders across the country, these loan programs help first-time home buyers qualify for a mortgage through relaxed down payment and credit requirements.

MassHousing highlights and eligibility requirements

Available through the Massachusetts Housing Finance Agency (a.k.a. MassHousing), these loans and assistance programs may make it easier to buy your first home.


  • Down payment assistance of up to $15,000.

  • Mortgage payment protection available in case of job loss.

  • Multiple loan options for veterans, active-duty military and their families.


  • Borrower must meet credit, asset, income and loan limits of program and lender.

  • Property must be located in Massachusetts and be the borrower’s primary residence.

  • Borrower must complete a home buyer education course.

  • Some loans have specific debt-to-income limits.

Massachusetts first-time home buyer programs

Summary: 2021 MassHousing first-time home buyer programs

  • The MassHousing mortgage also features a low down payment but adds up to $2,000 a month in payment protection — helping you to keep your home during a financial setback.

  • The Purchase and Renovation loan is for fixer-upper financing.

  • Operation Welcome Home helps military borrowers with up to $2,500 in closing cost assistance.

  • The Workforce Advantage program helps people purchase a home in certain Massachusetts communities.

  • Down payment assistance of up to $15,000 or 5% of the home’s purchase price is also available in the form of a 15-year, 2% loan — separate from your mortgage.

Now that you have some basic information about state-sponsored mortgage products, it’s time to delve into each loan program’s requirements so you can choose the right loan for your needs.

To learn more about any of the other first-time home buyer loan programs mentioned above, visit the MassHousing website.

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