Buying a 1-3 family home or a condo in Boston? If you’re a graduate of Homebuying 101, you may be eligible to receive financial assistance from the City of Boston.

What are the benefits?

• Receive up to 3% of the purchase price for downpayment and closing costs
• Receive $15,000 or $25,000 toward the purchase of a foreclosed property in certain neighborhoods
• Receive up to $50,000 for rehabilitation of a foreclosed property in certain neighborhoods, plus technical rehabilitation assistance
• Receive up to $65,000 for the purchase of and repairs to a foreclosed property in certain neighborhoods

Who is eligible?

• Must be a graduate of Homebuying 101
• Must not own any other property at time of purchase
• Must not have a household income that exceeds 120% of the Area Median Income as determined by the U.S. Department of Housing and Urban Development (HUD)

How do I apply and what happens next?

1. Graduate from an approved homebuyer education class
   You can sign up for Homebuying 101 through the Boston Home Center, or through one of our approved partner agencies.
   
   
2. Meet with a participating mortgage lender to learn what you can afford
   Please bring a recent credit report to this meeting. If you meet their guidelines the lender will give you a pre-qualification letter. View a list of participating mortgage lenders.
   
   
3. Apply for funding
   Depending on the category of financial assistance for which you wish to apply, the Boston Home Center may ask you to print and complete several forms.

   Applicants for up to 3% of the purchase price for downpayment and closing costs: 

• BHC Application for 3% Financial Assistance
• BHC No Income Affidavit, if applicable
• BHC No Child Support Affidavit, if applicable
  
  
Applicants for the $15,000 or $25,000 toward the purchase of a foreclosed property in certain neighborhoods:


• BHC Application for $15K/$25K Financial Assistance
• BHC No Income Affidavit, if applicable
• BHC No Child Support Affidavit, if applicable
  
  
Applicants for up to $50,000 for rehabilitation of a foreclosed property in certain neighborhoods, plus technical rehabilitation assistance:


• BHC Application for $50K Financial Assistance
• BHC No Income Affidavit, if applicable
• BHC No Child Support Affidavit, if applicable
  
  
Applicants for up to $65,000 for the purchase of and repairs to a foreclosed property in certain neighborhoods:


• BHC Application for $65K Financial Assistance
• BHC No Income Affidavit, if applicable
• BHC No Child Support Affidavit, if applicable
  
  
4. Receive confirmation that your application is under review
   Depending on the category of financial assistance for which you wish to apply, the Boston Home Center may ask you to print and complete several forms.
   


5. Find a property and make an offer
   Now you can shop for a home knowing how much of a loan you may be able to afford and what benefits and responsibilities accompany financial assistance from the City of Boston.

Have questions? For more information about the City of Boston’s Financial Assistance programs, call:
The Boston Home Center
Department of Neighborhood Development
Phone: 617.635.HOME (4663)
Email: HomeCenter.DND@cityofboston.gov

* Dollar amounts and financial assistance offers represent conditional and/or deferred loans. Primary mortgage / refinance / rehabilitation loans must be secured by the applicant. Some programs cannot be combined. Income eligibility and other restrictions may apply, including repair types and property location.



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