MassDreams Grant Program and What It Could Mean For First Time Home Buyers

Are you excited for the fall market? Us too, and the team at Metro Realty has some really, really exciting news for all of you first-time home buyers out there! Are you ready?

Masshousing is releasing a new grant program called “MassDreams” starting TODAY. This is an absolutely game changer for First Time Home Buyers, up to $50,000 in down payment assistance with NO REPAYMENT. Did you hear that? NO repayment.

Okay, okay, let’s take a few deep breaths. We are just as pumped as you are right now. So, what does this mean? How do you get approved? Let’s talk about it.

Step 1 is to be approved for one of the Masshousing programs that are currently offered, and then you will need to apply for a grant. This can be conventional or FHA financing. It can also be combined with current Masshousing down payment assistance programs

Step 2, and this one is easy, ensure that you are a first time home buyer.

Step 3, it is important that you have lived in a “disproportionately impacted” community of covid within the last 30 days, and you will need to provide proof. The cities that are currently covered are: Attleboro, Barnstable, Boston, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Framingham, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Randolph, Revere, Salem, Springfield, Taunton, Westfield, and Worcester

Step 4, be within the AMI (area median income) limit for that County. A 100% AMI or below can get up to $50,000 grant, and a between 100% AMI – 135% AMI – can get up to $35,000 grant.

If you fit into these categories and are looking to buy a home, contact us! Let’s get you your dream home.

Looking for a home here in Boston?

Contact us today to be put in touch with an agent who will make it happen!