The City of Worcester offers First Time Homebuyers up to $5,000 (1.5%) in down payment and closing cost assistance. Funding provided through Community Development Block Grant (CDBG) funds.  To qualify, buyers must meet following criteria:

• • Be a First Time Homebuyer with household income at or below 80% AMI Income Limit
  • Property purchased, must be located in the City of Worcester and meet HUD habitability standards
  • Complete an approved First Time Homebuyer Certification course prior to closing
  • Must apply at least 45 days prior to closing
  • Applications are submitted to, reviewed and approved by City of Worcester*
  • 3 Year Residency Restriction placed on property

To apply and/or for more information on the City of Worcester Down Payment Assistance, contact: (508) 799-1400.

The City of Worcester also offers employees in the City of Worcester up to $5,000 (1.5%) in down payment and closing cost assistance. Funding provided through Community Development Block Grant (CDBG) funds.  To qualify, buyers must meet following criteria:

• • Be a First Time Homebuyer with household income at or below 120% AMI Income Limit
  • Currently employed and working in the City of Worcester
  • Property purchased, must be located in the City of Worcester and meet HUD habitability standards
  • Complete an approved First Time Homebuyer Certification course prior to closing
  • Must apply at least 45 days prior to closing
  • Applications are submitted to, reviewed and approved by City of Worcester*
  • 3 Year Residency Restriction placed on property

To apply and/or for more information on the City of Worcester Down Payment Assistance, contact: (508) 799-1400.

• • Worcester Lead Abatement Program
  • Worcester Housing Now Program

For more information on these programs, contact (508) 799-1400

MassHousing offers First Time Home Buyers up to $15,000 in down payment and closing cost assistance. To qualify, buyers must meet following criteria:

• • Available to First Time Home Buyers* purchasing a single family, condo, or PUD
  • Income limits up to 100% of AMI
  • 30 year fixed rate financing
  • DPA-15 year fixed rate second  mortgage loan at 1% of the purchase price or $15,000, whichever is less for down payment assistance
  • Available with MassHousing MIPlus or FHA insurance
  • Borrowers utilizing MassHousing MIPlus and earning up to 100% of AMI will receive discounted mortgage insurance premiums
  • Rehabilitation option available for MassHousing Mortgage 100

For more information on MassHousing’s Down Payment Assistance, visit www.masshousing.com

Federal Home Loan Bank of Boston (FHLBB) Equity Builder Program offers First Time Homebuyers up to 3% in down payment and closing cost assistance. 

Equity Builder Program Highlights:

• • Up to $15,000 of Down Payment and Closing Cost Assistance
  • Must be a First Time Homebuyer with household income at or below 80% AMI limit of where you will purchase.                                                     (Program funds available across New England region)
  • Buyers must complete an approved First Time Homebuyer Certification course prior to closing
  • Buyers can only apply through lender that is an approved member of FHLBB. 
  • Buyers must have a signed P&S in order to apply. (Applications are not submitted without a fully executed P&S) 

For more information on the Equity Builder Program, visit: www.fhlbboston.com/communitydevelopment/ebp/index.jsp

HOW Grant Program is similar to Equity Builder Program. Amount of funding awarded is determined by FHLBB and distributed by approved lenders.

DownPayment Resource helps homebuyers find available down payment assistance programs across the US.                            
For more information on other available Down Payment Assistance Programs, visit https://downpaymentresource.com/.