Massachusetts Down Payment Help

MassHousing Loans and Down Payment Assistance

Q: Do I have to use a MassHousing first mortgage?

Yes. The assistance pairs with a MassHousing mortgage ( source , checked October 2026).

Q: Is a homebuyer class required?

Yes. MassHousing requires homebuyer education ( source , checked October 2026).

Cover your down payment with up to $30,000 in MassHousing assistance paired with a MassHousing first mortgage.

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Who it fits

Who MassHousing down payment assistance fits

By Ryan and Megan Winslow, Mortgage Bankers with The Federal Savings Bank, NMLS #2426605 and #2692933. Updated October 3, 2026.

MassHousing is the state's housing finance agency. It offers first mortgages through participating lenders and pairs them with down payment assistance for first-time buyers (source, checked October 2026). The help comes as a second loan, not a grant.

MassHousing assistance fits you when:

You are a first-time buyer and your household income falls under the MassHousing limit.
You plan to live in the home as your primary residence.
You want a single family home, a condo, or a 2 to 4 family home.
You have steady income but not enough saved for the down payment and closing costs.
You are willing to finish a homebuyer education class before closing.

Buyers across Worcester County, the Merrimack Valley, the South Coast and Western Massachusetts use this assistance to close the gap between savings and the cash a purchase demands.

The numbers

Couple reviewing mortgage papers with an advisor

MassHousing assistance options at a glance

Item	2026 figure	Source
Option 1 maximum	$30,000	source, October 2026
Option 1 structure	0% interest, deferred, no payments until sale or refinance	source, October 2026
Option 2 maximum	$25,000	source, October 2026
Option 2 structure	15-year amortizing loan at a fixed 2%	source, October 2026
Option 3 maximum	$25,000	source, October 2026
Option 3 structure	15-year amortizing loan at a fixed 3%	source, October 2026
Paired first mortgage	MassHousing mortgage required	source, October 2026
Eligible homes	Single family, condo, 2 to 4 family	source, October 2026
Homebuyer education	Required	source, October 2026
2026 conforming loan limit, one unit baseline	$832,750	source, October 2026
2026 Federal Housing Administration (FHA) floor, one unit	$541,287	source, October 2026

The lender decides which option and how much assistance fits your file (source, checked October 2026). Option 1 adds no monthly payment. Options 2 and 3 add a fixed monthly payment for 15 years, so they raise your housing cost while lowering the cash you bring to closing.

Requirements

What MassHousing asks of you

First-time buyer. MassHousing limits this assistance to income-eligible first-time buyers (source, checked October 2026).
Income limits. Household income must sit under the MassHousing limit for your area. Limits change, so check them on the day you apply (source, checked October 2026).
Primary residence. You live in the home (source, checked October 2026).
MassHousing first mortgage. The assistance pairs only with a MassHousing mortgage (source, checked October 2026).
Homebuyer education. Finish a class before closing (source, checked October 2026).
Credit and income documents. The lender reviews credit, pay stubs, W-2 forms, tax returns and bank statements under MassHousing and lender rules.

MassHousing loans close through participating lenders. Ryan and Megan tell you up front whether The Federal Savings Bank offers MassHousing on your file. If it does not, they compare MassHousing with the FHA, Department of Veterans Affairs (VA) and conventional loans they do offer, and with the ONE Mortgage program, so you see the trade-offs in writing.

Costs

What MassHousing assistance costs you

Option 1 carries no interest and no monthly payment (source, checked October 2026). You repay it when you sell or refinance. Options 2 and 3 carry fixed monthly payments for 15 years (source, checked October 2026).

You still pay normal purchase costs:

Lender fees, appraisal and credit report.
Closing attorney fees. Massachusetts closings run through attorneys.
Lender and owner title insurance.
Mortgage insurance on the first mortgage, if your loan requires it.
Prepaid homeowners insurance, property taxes and an escrow cushion.

Keep a cash cushion after closing. Repairs and moving costs arrive fast in an older Massachusetts home, and lenders look at reserves too.

Ask for a loan estimate that shows the first mortgage and the assistance loan together. Compare the total monthly payment and the cash to close for each option.

Step by step

How to use MassHousing down payment assistance

Run the MassHousing eligibility quick check on its site (source, checked October 2026).
Enroll in a homebuyer education class and finish it before closing.
Apply at winslowloan.com. Ryan and Megan review income, credit and assets.
Compare MassHousing Option 1, 2 and 3 with ONE Mortgage, FHA and conventional loans on one sheet.
Get your pre-approval letter with a price range that includes the assistance payment, if any.
Shop with a buyer agent and write an offer with realistic timelines for agency review.
Order the appraisal and inspections as soon as the contract is signed.
Review your closing disclosure with your attorney, wire funds safely and close.

Common mistakes

MassHousing mistakes to avoid

Picking Option 2 or 3 for the larger cash amount without pricing the extra monthly payment.
Waiting to take the homebuyer class until the week before closing.
Assuming the assistance is a grant. All three options are loans.
Forgetting that Option 1 comes due when you sell or refinance.
Using last year's income limit. Check the current figure.
Skipping the comparison with ONE Mortgage. Some buyers save more with no mortgage insurance than with a larger assistance loan.
Changing jobs, opening new credit or making large unexplained deposits while the loan is in underwriting.
Buying a 2 to 4 family home without a plan for rent, repairs and reserves.

How Ryan and Megan help

Aerial view of a Florida waterfront neighborhood

How Ryan and Megan help with MassHousing

Ryan and Megan are Mortgage Bankers with The Federal Savings Bank. They start with your monthly budget and work backward to the price range, so the assistance helps instead of stretching you. Ryan and Megan also hold Massachusetts real estate broker licenses through Winslow Homes and started their careers in Massachusetts. They know how attorneys, agents and lenders move a Massachusetts purchase to closing.

You get a side-by-side comparison of every program that fits your file, with cash to close and monthly payment for each. Start at winslowloan.com or use the program matcher.

FAQs

Questions you ask most

How much down payment assistance does MassHousing offer?

Up to $30,000 under Option 1, or up to $25,000 under Options 2 and 3 (source, checked October 2026).

Do I repay MassHousing down payment assistance?

Yes. Option 1 is deferred until you sell or refinance. Options 2 and 3 are paid monthly over 15 years (source, checked October 2026).

Do I have to use a MassHousing first mortgage?

Yes. The assistance pairs with a MassHousing mortgage (source, checked October 2026).

Is a homebuyer class required?

Yes. MassHousing requires homebuyer education (source, checked October 2026).

Does MassHousing work on a 3 family home?

MassHousing lists single family, condo and 2 to 4 family homes as eligible property types (source, checked October 2026).

Ryan Winslow NMLS #2426605. Megan Winslow NMLS #2692933. The Federal Savings Bank NMLS #411500. The Federal Savings Bank is an Equal Housing Lender. Program terms, income limits and funding change. This is not a commitment to lend. Verify licensing at NMLS Consumer Access.

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Mortgage calculators

Estimates from your inputs only. Not a loan offer, rate quote or approval. Ryan and Megan, Mortgage Bankers with The Federal Savings Bank (NMLS #411500), confirm real numbers.