Workforce Advantage is a MassHousing Loan that has down payment assistance for qualified borrowers. It’s meant for low-income first-time homebuyers looking to purchase property in Boston, Attleboro, Barnstable, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Revere, Salem, Springfield, Taunton, Westfield, or Worcester.
In order to be eligible, borrowers must not earn more than 80% of the Area Median Income, or AMI. Down payment assistance is offered in the form of loan for up to 3% of the property’s purchase price, or $15,000 (whichever is the smaller amount).
Workforce Advantage was made possible thanks to a $2.5 million grant from the Commonwealth of Massachusetts.
Other programs in Massachusetts: