Unlocking Homeownership: First-Time Homebuyer Assistance Programs in Massachusetts and Connecticut

Buying your first home is an exciting milestone — but it can also feel overwhelming, especially when it comes to financing.

If you're a first-time homebuyer in Massachusetts or Connecticut, the good news is you don't have to go it alone. Both states offer a variety of assistance programs to make homeownership more affordable and accessible.

In this guide, we’ll walk you through some of the most popular first-time homebuyer assistance programs available in Massachusetts and Connecticut, so you can take advantage of opportunities that could save you thousands and make your dream of owning a home a reality.

First-Time Homebuyer Programs in Massachusetts

Massachusetts offers several programs designed to support first-time buyers with affordable mortgage options, down payment assistance, and educational resources.

1. MassHousing Loans

MassHousing provides affordable mortgage loans with low down payment options and competitive fixed interest rates. Many of their loans also come with MI Plus Mortgage Insurance, which can help cover your mortgage payments if you lose your job.

Key Benefits:

• Low or no down payment

• Down payment assistance up to $50,000 (depending on income and location)

• Fixed-rate loans

• Job-loss protection

2. MassHousing Down Payment Assistance (DPA)

Eligible first-time buyers can receive financial help toward their down payment. Assistance amounts can vary by location, with higher limits available in Boston and the surrounding communities.

Highlights:

• Up to $50,000 in assistance for eligible buyers

• Forgivable loans available in some cases

• Income and purchase price limits apply

3. ONE Mortgage Program

The ONE Mortgage is a popular option for low- and moderate-income first-time buyers. It offers low monthly payments and requires little to no private mortgage insurance (PMI), helping you save significantly over the life of your loan.

Features:

• No PMI required

• Low-interest rates

• Designed for buyers with modest incomes

First-Time Homebuyer Programs in Connecticut

Connecticut also provides a range of assistance programs to help new buyers afford their first homes, from special mortgage options to down payment and closing cost assistance.

1. CHFA First-Time Homebuyer Program

The Connecticut Housing Finance Authority (CHFA) offers below-market interest rate mortgages for eligible first-time buyers. CHFA loans are available through a network of participating lenders across the state.

Program Highlights:

• Competitive, low-interest mortgages

• Options for low or no down payment

• Special benefits for military veterans

2. CHFA Down Payment Assistance Program (DAP)

In addition to mortgage loans, CHFA offers the Down Payment Assistance Program, which provides loans to help cover your down payment and closing costs.

Benefits:

• Loans typically starting at 1% interest

• Helps cover the upfront costs that often prevent buyers from entering the market

• Must be used in conjunction with a CHFA mortgage

3. Time To Own – Forgivable Down Payment Assistance

Launched recently, the Time To Own program offers forgivable loans that help cover down payments and closing costs for first-time homebuyers. After a certain period of living in the home, part or all of the loan may be forgiven.

Highlights:

• Forgivable after a few years of occupancy

• Helps eliminate barriers to homeownership

• Can be combined with other CHFA programs

Final Thoughts: Don’t Miss Out on These Opportunities

Navigating the world of first-time homebuyer programs can seem complicated, but the rewards are worth it. Whether you're buying in Massachusetts or Connecticut, there are valuable programs designed to make your first home purchase easier and more affordable.

Before you start house hunting, it’s a great idea to review these programs and see which ones you may qualify for.
Taking advantage of available assistance could help you secure your dream home sooner — and with more money left in your pocket.

Helpful Links to Learn More:

• Massachusetts First-Time Homebuyer Resources (MassHousing)

• Massachusetts ONE Mortgage Program

• Connecticut Housing Finance Authority (CHFA)

• CHFA Time To Own Program

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