09/13/2022
🎉JUST WANTED TO SHARE THIS VERY IMPORTANT GRANT INFO!! 🙌🏻👏🏻
Feel free to reach out to me for More info!! I am taking on new clients!!! I would love to put you into your first home practically for FRREEE!!
Mass Housing is offering a grant up to $50,000 that is forgiven at closing!!! Yes, FREE money for first time home buyers! This is a game changer for so many buyers in our market. This can drastically help offset some of the challenges buyers are having in this market with higher rates and payments.
Here are some key details:
*Buyer must CURRENTLY live in one of the following locations to qualify: 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.
* If eligible, can purchase ANYWHERE in Mass. They are not restricted to locations above.
* Assistance is up to $50,000 if income is at or below 100% Area Median Income (Worcester county is $107,900 and Middlesex, Essex, Norfolk, Suffolk, Plymouth county is $133,300)
*Assistance is up to $35,000 if income is at or below 135% Area Median Income ( Worcester county is $145,665 and Middlesex, Essex, Norfolk, Suffolk, Plymouth county is $179,955
* First time homebuyers only, primary home
*1,2,3,4 unit homes and condos eligible
*Conventional or FHA
The assistance will be used for 5% of the down payment, the remainder will be used to closing costs, taxes and insurance. If there are funds left over, it can be used to buy down the interest rate and on a conventional loan – buy out the mortgage insurance. This means a buyer could potentially can get a lower rate and NO mortgage insurance ( PMI). This can significantly lower a buyers monthly payment.