Massachusetts offers two strong tracks: MassHousing pairs its mortgages with down payment help of up to $30,000, while the separate ONE Mortgage gives lower-income buyers a subsidized loan with no private mortgage insurance.
This guide covers what is actually available to first-time buyers in Massachusetts in 2026 — the agency behind these programs, the loans and down payment help on offer, who qualifies, and how to apply. For the wider local picture, see our Massachusetts first-time home buyer guide.
The MassHousing and its home loan programs
Massachusetts’s first-time buyer programs are run by the MassHousing, with the ONE Mortgage administered by the Massachusetts Housing Partnership. Like most housing finance agencies, it does not lend directly — instead it offers below-market first mortgages, bundled with down payment help, through a network of approved local lenders. Its main first-mortgage options are:
- MassHousing Mortgage — carries the down payment assistance below
- ONE Mortgage — a subsidized low-down-payment loan with no PMI, run by the Massachusetts Housing Partnership
- MassDREAM — interest-free down payment assistance, expanded statewide in 2025
Most of these can be built on top of an FHA, VA, or USDA loan, or a conventional loan, depending on the product you pick — and the real value comes when you pair one with the down payment assistance below.
Down payment assistance in Massachusetts
Down payment assistance is the heart of what MassHousing offers, and Massachusetts gives buyers more than one way to get it. MassHousing lets you choose between a larger deferred second and a repayable one.
- MassHousing DPA — Deferred Option — deferred second at 0% interest, up to $30,000, repaid on sale, refinance, or payoff.
- MassHousing DPA — Amortizing Option — repayable second (15-year term), up to $25,000 at 2% or 3% interest.
- MassDREAM — deferred second (interest-free), varies — verify current amount with the program.
If those terms are unfamiliar, our national guide to down payment assistance explains exactly how grants, forgivable second mortgages, and deferred loans differ — and what each one means when you eventually sell or refinance.
How much help could you get?
On a $500,000 home in Massachusetts, the MassHousing deferred DPA could provide up to $30,000 — a zero-interest second with no monthly payment that you repay only when you sell or refinance. Prefer to pay it down? The amortizing option gives up to $25,000 at 2%–3% over fifteen years. Lower-income buyers may do better with the ONE Mortgage, which skips PMI entirely. Confirm current amounts and income limits with MassHousing.
Who qualifies in Massachusetts?
Every program sets its own rules, and they change periodically, but the common requirements in Massachusetts look like this:
- Income limits. Income limits are set by program and area, tied to area median income and location.
- First-time status. Most programs (ONE Mortgage and MassDREAM) target first-time buyers, with some flexibility by area.
- Credit score. A minimum around 640 is typical, varying by loan type. Our guide to credit score requirements covers what moves the needle.
- Homebuyer education. A MassHousing-approved homebuyer education class is required.
- Purchase price limits. Conforming loan limits and program purchase-price caps apply.
Massachusetts programs worth knowing about
Beyond the standard offerings, Massachusetts aims extra help at specific buyers and places. Watch for:
- ONE Mortgage — a subsidized loan with no PMI for lower-income buyers
- MassDREAM — interest-free down payment assistance, now available statewide
Mortgage Credit Certificates in Massachusetts
Massachusetts does not currently offer a statewide Mortgage Credit Certificate, so do not plan on one here — focus on the down payment assistance above instead. A Mortgage Credit Certificate is a federal tax credit worth a percentage of the mortgage interest you pay every year for the life of the loan, and where it is available it can usually be combined with the assistance above — putting money back in your pocket each tax season.
How to apply for Massachusetts assistance
- Set your budget first. Our home affordability guide helps you land on a realistic price range before you start shopping.
- Complete a homebuyer education course. Nearly every Massachusetts program requires one, and it is usually free and available online.
- Find a participating lender. Not every lender originates MassHousing loans, so ask directly which MassHousing programs a lender offers and have them run your numbers against a few.
- Get pre-approved and lock in the right program for your income, credit, and target home before you make an offer.
One important note: MassHousing program funding and terms change from year to year, and some assistance rounds close when the money runs out. Always confirm current amounts and availability directly with MassHousing before you count on a specific figure. Our first-time home buyer checklist keeps the rest of your process on track.
Massachusetts first-time buyer programs FAQ
Do I have to be a first-time buyer to get assistance in Massachusetts?
Most programs (ONE Mortgage and MassDREAM) target first-time buyers, with some flexibility by area.
What credit score do I need for MassHousing programs?
A minimum around 640 is typical, varying by loan type. Keep in mind a program’s own minimum can sit above the loan’s floor, so confirm the exact number with your lender.
Can I use Massachusetts assistance with an FHA, VA, or USDA loan?
Yes. MassHousing assistance is built to layer on top of a first mortgage, and FHA, VA, and USDA loans are common partners because their own down payment requirements are already low. Your lender structures both pieces so they close together.
Should I use a MassHousing loan or the ONE Mortgage in Massachusetts?
MassHousing mortgages come with down payment help of up to $30,000 and suit a wide range of buyers. The ONE Mortgage, run by the Massachusetts Housing Partnership, is a subsidized loan for lower-income first-time buyers with no private mortgage insurance, which can mean a lower monthly payment. The right choice depends on your income and how much cash you need; a participating lender can compare both for you.
More Massachusetts city guides
Buying in a specific Massachusetts metro? See our first-time buyer guides for Boston, each covering the city’s own local down payment programs.
First-time home buyer grants in Massachusetts
Looking specifically for grant money? Our guide to first-time home buyer grants in Massachusetts covers which programs are true grants, which are forgivable, and the truth about the widely advertised federal grant.