by MassHousing

Down Payment Assistance for COVID-Impacted, First-Time Homebuyers up to $50,000

Fidelity Bank is proud to be a participating lender for the new MassDREAMS grant program by MassHousing. We are committed to helping clients achieve affordable home ownership, and MassHousing can help make this dream a reality.

Connect with us today to find out if you are eligible.

The MassDREAMS grant program is designed to support sustainable and durable homeownership and increase long-term housing security for people and places that have been disproportionately impacted by COVID-19. The program will provide expanded down payment assistance, as well as other support, for eligible first-time homebuyers who currently reside in a Disproportionately Impacted Community for the purchase of a primary residence anywhere in the Commonwealth of Massachusetts.

Eligible first-time homebuyers may receive up to $50,000 in grants to be used for down payment assistance up to 5% of the purchase price or appraised value. Remaining funds may be used for other eligible expenses – closing costs, single borrower paid MI premiums, and Interest Rate buy downs. These grants do not require repayment and can be used in conjunction with other down payment assistance programs.

To be eligible for a MassDREAMS grant, you must:

  • Be a first-time homebuyer
  • Purchase a home anywhere in Massachusetts
  • Currently reside in one of the 29 Disproportionately Impacted Communities* in Massachusetts
  • Buy a single-family home, condominium, or 2-4 family home, which will be your primary residence
  • Meet income and other eligibility criteria, which vary by location

The MassDREAMS grant program is only available through approved lenders like Fidelity Bank. Contact one of our Home Loan Specialists for details!

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*Disproportionately Impacted include: 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.

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