If you've been dreaming about owning a home on the North Shore — a sun-bleached cottage in Rockport, a historic Federal in Salem, a Cape in Gloucester steps from the water — but the down payment feels impossibly out of reach, we have genuinely exciting news for you.

MassHousing just announced a landmark expansion of its Down Payment Assistance program. Starting April 27, 2026, eligible first-time buyers can access a $25,000 interest-free, deferred loan to put toward their down payment — statewide, with no monthly payments required during the life of your mortgage.

This is not a grant with strings attached or a confusing tax credit you won't see for a year. It's real money, available now, designed specifically to help people like you cross the threshold into homeownership.

What Is MassHousing's Down Payment Assistance?

MassHousing is Massachusetts' affordable housing bank — a public authority that has helped more than 100,000 Bay State residents become homeowners. Their Down Payment Assistance (DPA) program pairs a traditional first mortgage with a second mortgage that covers your down payment, so you can buy with little cash out of pocket.

Historically, that second mortgage carried a modest interest rate of 2–3% and required monthly payments over 15 years. From April 27 through July 31, 2026, that second mortgage becomes 0% deferred — meaning you owe nothing extra each month, and the $25,000 is simply repaid when you eventually sell, refinance, or pay off your home.

The Details: What You Need to Know

Program Feature	Details
DPA Amount	$25,000 — fixed, statewide
Interest Rate on DPA	0% deferred (no monthly payment)
Repayment Trigger	Sale, refinance, or payoff of first mortgage
Who Qualifies	First-time homebuyers only
Income Limit	Up to 135% of Area Median Income (AMI)
Property Types	1–4 unit homes, condos, PUDs in Massachusetts
Available Dates	New locks April 27, 2026 – July 31, 2026
First Mortgage Pairings	FNMA HFA Preferred, FHLMC HFA Advantage, FHA (FTHB)

The program is available across all cities and towns in the Commonwealth — which means whether you're eyeing Beverly, Marblehead, Ipswich, or Newburyport, this assistance can work for you.

Who Counts as a "First-Time Homebuyer"?

You might qualify even if you've owned a home before. Under federal guidelines used by MassHousing, a first-time homebuyer is defined as someone who has not owned a primary residence in the past three years. So if you sold a home, went through a divorce, or have been renting for a few years, you may still be eligible.

The income limit — 135% of Area Median Income — is more generous than many assume. For most North Shore communities, the Area Median Income is $152,100, which means the qualifying income ceiling is approximately $205,335. Your lender can run the exact figures for your situation in minutes.

Why the North Shore Is the Right Place to Buy Right Now

The North Shore's appeal has never been stronger. Boston-area professionals are discovering that Beverly, Manchester, and Rockport offer the coastal lifestyle, commuter rail access, and genuine community that no downtown condo can replicate. The market is competitive — homes are averaging just 18 days on market, with a 102% list-to-sale ratio — which means buyers who can move quickly and confidently have an enormous edge.

The challenge for many first-time buyers isn't income — it's the down payment hurdle. On a $500,000 home, a conventional 5% down payment requires $25,000 in cash. This program effectively hands you that entire down payment. Your closing costs and first month's escrow are still on you, but the biggest barrier just got dramatically smaller.

The Window Is Short — Here's Your Timeline

• Now Get pre-approved. Talk to a MassHousing-approved lender today. Know your exact numbers before the program opens.
• Apr 24 Current DPA products sunset. The existing amortizing DPA products (4004, 4006) go offline. The 0% deferred product takes over.
• Apr 27 New locks open. The 0% deferred $25,000 DPA (Product 4007) is officially available. Act fast — start submitting offers.
• Jul 31 Program closes. The 0% deferred window ends. Standard amortizing DPA products return on August 3.

That's roughly a three-month window between April 27 and July 31 to lock in this assistance. Buyers who move now will find motivated sellers and healthy inventory before the summer frenzy hits.

How to Get Started

The path to using MassHousing DPA runs through an approved lender, not directly through MassHousing itself. Your steps are straightforward:

1. Get pre-approved with a MassHousing-approved lender

Ask specifically about Product 4007 and confirm you meet the income and first-time buyer requirements. Most lenders can turn around a pre-approval in 24–48 hours.

2. Work with a North Shore buyer's agent

In a market where homes receive multiple offers within days, having an experienced local agent in your corner is non-negotiable. We know the neighborhoods, the comps, and how to structure an offer that wins.

3. Start touring homes — now

You don't need to wait until April 27 to start your search. Find the home you love, make the offer, and time your loan lock to open on or after April 27.

This post is based on MassHousing's HomeOwnership Announcement dated March 27, 2026. Program details, income limits, and eligible products are subject to change. Contact a MassHousing-approved lender or email homeownership@masshousing.com for the most current information. This is not a commitment to lend.