Receive up to $50,000 in down payment and closing cost assistance for your first home in Massachusetts.
Verify Your MassDREAMS Grants Eligibility
The MassDREAMS (Delivering Real Equity and Mortgage Stability) Grant is a federally funded program designed to support first-time homebuyers in Massachusetts.
This grant provides eligible buyers who currently reside in designated Disproportionately Impacted Communities with substantial financial assistance toward down payments and closing costs.
With up to $50,000 available, MassDREAMS helps make homeownership more accessible and affordable.
The grant pairs with the ONE Mortgage or MassHousing mortgage products, providing a pathway to stable homeownership in Massachusetts.
Receive up to $50,000 in assistance for your primary residence.
Down payment assistance covering 5% of the purchase price.
Structured as a grant with no repayment needed.
Eligible for additional assistance programs for more savings.
Accessible to those earning less than 100% of the Area Median Income (AMI).
Residency Requirement: Must currently reside in one of the 29 eligible communities, including Boston, Springfield, Worcester, and others.
First-Time Buyer: Must not have owned a home in the past three years.
Income Limits: Household income must fall below the specified limits for your community and household size.
Asset Limit: Household assets must be less than $75,000 (excludes retirement and college savings).
Credit Score: Minimum credit score of 640 for single-family/condo, 660 for two- or three-family homes.
Homebuyer Education: Completion of a homebuyer class is required.
Primary Residence Requirement: The property must serve as your primary residence.
Confirm you meet the requirements based on residency, income, and assets.
Submit the application for MassDREAMS and partner mortgage product.
Receive the grant funds to cover your down payment and closing costs!
The MassDREAMS Grant provides financial assistance that must be paired with an MHP ONE Mortgage or a MassHousing mortgage product.
This pairing allows first-time homebuyers to benefit not only from substantial down payment and closing cost assistance but also from the security and stability of established mortgage programs.
To qualify, applicants must meet the following specific criteria: they must reside in one of the eligible communities, have a credit score of at least 640 (or 660 for certain property types), and meet income and asset limitations, with household assets below $75,000.
The grant covers up to 5% of the purchase price, with a maximum of $50,000, structured as a non-repayable grant. This means that as long as participants use the home as their primary residence and comply with all program requirements, no repayment of the grant is necessary.
For eligible buyers, the MassDREAMS Grant offers a financially supportive and reliable path to homeownership, ensuring that the dream of owning a home is both attainable and sustainable.
MassDREAMS covers primary residences, including condos, single-family homes, and two- or three-family homes that you intend to occupy.
If you stop living in the property as your primary residence, you must refinance out of the ONE Mortgage, which may impact the grant terms.
Yes, MassDREAMS can be combined with other down payment or closing cost assistance programs for additional savings.
Approval times vary, but it’s recommended to apply as early as possible and follow all application instructions to expedite the process.
MassDREAMS has options for applicants without traditional credit history; however, meeting the minimum score generally improves your approval chances.
With decades of experience in supporting Massachusetts residents on their journey to homeownership, we’ve helped thousands of first-time homebuyers achieve their dreams and have closed billions of dollars in residential financing.
Our extensive local knowledge and proven track record in the real estate and mortgage markets make us a trusted partner in your homebuying process.
We are dedicated to empowering new buyers with financial support, valuable resources, and the guidance needed to navigate the path to stable, affordable homeownership.
Let our expertise help you find confidence in your homebuying journey.
