Boston is one of the priciest metros in the country, so the city pairs a down payment grant of up to $50,000 with ONE+Boston, a discounted mortgage that offers some of the lowest rates available to first-time buyers.
This guide focuses on what first-time buyers in Boston specifically can tap in 2026 — the local programs run by the city and county, the statewide help you can layer on top, and what it realistically takes to buy here.
Boston’s own first-time buyer programs
Boston’s help runs through the Mayor’s Office of Housing and its Boston Home Center:
- City of Boston First-Time Homebuyer Down Payment Grant — a grant of up to $50,000 (3% of the price for households under 100% of area median income, capped at $50,000; 2% up to $35,000 for 101–135% AMI) toward down payment and closing costs, for buyers with assets under $100,000
- ONE+Boston — the city’s flagship program, combining a discounted 30-year fixed ONE Mortgage (with an interest-rate buydown and some of the lowest rates available) with down payment help; requires that you be a current Boston resident and can be paired with the grant above
These local programs are the piece most buyers miss, because they are run by the city or county rather than a lender — and they can often be combined with the statewide programs below.
Statewide programs you can also use in Boston
On top of Boston’s local help, every Massachusetts buyer can access the state’s housing finance programs — below-market loans, down payment assistance, and a possible tax credit. We cover them in full in our guide to Massachusetts first-time home buyer programs, and the wider local picture in our Massachusetts first-time home buyer guide. In many cases you can stack a city program with a state program to cover most or all of your cash to close — a lender who works with both can structure it.
What it takes to buy in Boston
Boston’s median sale price is roughly $785,000 — one of the most expensive markets in the U.S., where even substantial city assistance covers only part of the down payment. That is why ONE+Boston’s rate buydown matters as much as the up-to-$50,000 grant: lowering the rate for the life of the loan can save far more than the upfront cash over time. Both pair with Massachusetts’s statewide programs.
Before you shop, pin down your budget. Our home affordability guide walks through how income, debt, and rates set your price range, and our first-time home buyer checklist keeps the rest of the process on track.
Loan options for Boston buyers
Most Boston first-time buyers use one of a few loan types, each of which can pair with the assistance above:
- FHA loans — 3.5% down with flexible credit, popular with first-time buyers
- Conventional loans — as little as 3% down, with reduced mortgage insurance through state HFA versions
- VA and USDA loans — zero down for eligible veterans and in qualifying areas
- Down payment assistance — city and state programs that layer on top (see our down payment assistance guide)
How to buy your first home in Boston
- Check your budget and credit first — see our guide to credit score requirements.
- Complete a homebuyer education course — nearly every Boston and Massachusetts program requires one, and it is usually free.
- Find a lender who works with both Boston and Massachusetts programs, and ask them to run the city and state options together.
- Get pre-approved, then line up your assistance before you make an offer.
One note: local and state program funding and terms change, and some rounds close when the money runs out. Always confirm current amounts and availability with the program administrator before counting on a figure.
Boston first-time buyer FAQ
What down payment help is available in Boston?
Boston offers a first-time homebuyer down payment grant of up to $50,000 (3% for households under 100% of area median income, capped at $50,000; 2% up to $35,000 for 101–135%), plus ONE+Boston, which combines a deeply discounted 30-year fixed mortgage with down payment help for current Boston residents. The two can be combined, and Massachusetts’s statewide MassHousing and ONE Mortgage programs apply as well.
Can I combine Boston city programs with Massachusetts state programs?
Often yes. City or county assistance is usually designed to layer on top of a first mortgage, and many buyers stack it with a Massachusetts state program to cover most of their down payment and closing costs. A lender who participates in both can confirm what combines. See our Massachusetts programs guide for the statewide options.
Do I have to be a first-time buyer to qualify in Boston?
Yes — Boston’s programs require first-time buyer status (no ownership in the past three years). The down payment grant caps household income below 135% of area median income and assets below $100,000, and requires a pre-purchase homebuyer education class. ONE+Boston additionally requires that you currently live in Boston and buy a one-to-three-family home or condo in the city. Confirm current AMI figures and rate details with the Boston Home Center.
What is ONE+Boston and how is it different from the grant?
ONE+Boston is the city’s flagship first-time buyer program: it combines a discounted 30-year fixed-rate mortgage (based on the ONE Mortgage, with an interest-rate buydown that produces some of the lowest rates available) with down payment assistance. That is different from the standalone down payment grant of up to $50,000, which is cash toward your down payment and closing costs. The two can be combined, and because ONE+Boston lowers your rate for the life of the loan, it can save a Boston buyer more over time than upfront cash alone. You must be a current Boston resident; confirm details with the Boston Home Center.