Massachusetts launches federally funded program for first-time homebuyers

by Liz Hughes

Massachusetts officials have launched a new program to help first-time homebuyers in communities significantly impacted by COVID-19.

The launch of the MassDREAMS program was announced by the Baker-Polito administration, along with MassHousing and the Massachusetts Housing Partnership. The program will deliver up to $50,000 in assistance to provide first-time homebuyers in communities disproportionately impacted by the pandemic with grants for down payments and closing costs. Those communities include Boston, Framingham, Randolph and the 26 Gateway Cities. MassDREAMS is federally funded by the American Rescue Plan Act (ARPA).

Governor Charlie Baker said MassDREAMS will enhance the ways the Commonwealth can help more working families achieve homeownership. 

“This new program complements our ongoing efforts to leverage federal ARPA funds to address the racial homeownership gap in Massachusetts and creates additional opportunities for residents across the state,” Baker said.

“The COVID-19 pandemic demonstrated the importance of safe and affordable housing to individuals’ health and economic security,” said Lieutenant Governor Karyn Polito. “Through this new program, we are putting federal recovery funds to work helping residents of disproportionately impacted communities build a better future.”

Buyers with household incomes below 100% of the area median income are eligible for a maximum grant of $50,000. Households with incomes between 100% and 135% are eligible for a maximum amount of $35,000. 

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