What Mortgage Loans or Down-Payment Assistance Are Available Locally?

What Mortgage Loans or Down-Payment Assistance Are Available Locally?

Buying your first home in Worcester or Central Massachusetts doesn't have to mean emptying your savings. Let’s explore the mortgage and down‑payment support available right here—so you can step into homeownership with clarity and confidence.

Local Down-Payment & Closing Cost Help

City of Worcester Programs

• Up to $5,000 in down‑payment and closing cost assistance through HUD’s Community Development Block Grant—available to income-qualified first‑time buyers residing in the City of Worcester.

• A larger program—up to $25,000—is also offered through Worcester Community Housing Resources under ARPA funding, for eligible buyers.

MassHousing

• Provides up to $30,000 in down‑payment assistance statewide for income-eligible first‑time buyers (deferred or low-interest repayment options available).

• The expanded 2025 program now offers up to $25,000 to moderate- and middle-income buyers across Massachusetts, including Worcester County.

Massachusetts ONE+ Mortgage (MHP)

• Offers low, fixed interest rates, no PMI, lower down payment, plus down‑payment and closing‑cost assistance in eligible communities—including Worcester.

Equity Builder Program (FHLB Boston)

• Offers up to 3% (max $15,000) in down‑payment and closing‑cost assistance. Requires homebuyer education and application through an approved lender.

Mortgage Types to Know

• FHA Loans: Federal-backed loans offering lower minimum credit scores and down payments (as little as 3.5%). Great for buyers with limited savings or credit history.

• Other Options: VA loans (no down payment for veterans), USDA loans (for rural property buyers), and conventional loans remain valuable options depending on eligibility and your situation.

Why This Matters—and How I Help

Navigating these programs can feel overwhelming, but as your local agent, I make it easy:

• I’ll connect you with trusted local lenders who specialize in programs like MassHousing, ONE+, and Worcester’s assistance funds.

• You’ll get a personalized breakdown of what options match your financial profile.

• Together, we’ll leverage the right program to boost your purchasing power without unnecessary stress.

Ready to Get Started?

Let’s turn those funds into your first home. Reach out today and I’ll connect you with the best assistance options tailored to your income and goals.
Call or text me at 508-365-7036 and let’s make your path to homeownership smoother and more affordable.