Getting the Lowest Mortgage Rate
In the past several years, mortgage rates have risen from record lows to the highest in decades. High rates and high housing prices are a tough combination for potential homebuyers ...
MASSDREAMS GRANTS CAN BE USED FOR:
- Downpayment
- Closing costs/pre-paids
- Rate buydown
- Pre-payment of Mortgage Insurance
- Single family, condo, and 2-4 unit properties
MASSDREAMS GRANT REQUIREMENTS:
- Current residents of the following communities are eligible: 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 - Requires documentation of current residency
- No restrictions on where you purchase in the state of Massachusetts
- Income restrictions
- Up to $50,000 if AMI (Area Median Income) is under 100
- Up to $35,000 if AMI (Area Median Income) is between 100.01% to 135%
- Home buyer counseling required
- Grant does not require repayment
- Only available through eligible lenders
- Open to first-time Homebuyers only
- Single family, condo, and 2-4 unit properties
Articles of Interest
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