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Down Payment Assistance Program

North Andover, Massachusetts

Last verified
See what you qualify forOfficial program site →
Income limit

100% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 10 years

What is Down Payment Assistance Program?

Down Payment Assistance Program is a deferred second loan for homebuyers in North Andover, Massachusetts.

  • The North Andover Affordable Housing Trust Down Payment Assistance Program provides up to $30,000 in interest-free, deferred-payment down-payment assistance to income-qualified first-time buyers purchasing a single-family home or condominium in North Andover. Funded with Affordable Housing Trust funds and Community Preservation Act allocations, the program is administered by Bread & Roses Housing in partnership with Centro de Apoyo Familiar (CAF). Applicants must be at or below 100% AMI; the loan is forgiven upon completion of the 10-year affordability term. Repayment is triggered upon sale, transfer, refinance without Trust approval, loss of owner-occupancy, or other term violation within the 10-year period.
  • Up to $30,000 in deferred-payment, interest-free down-payment assistance for income-qualified first-time buyers purchasing a single-family home or condominium in North Andover for use as principal residence. The deferred loan is forgiven upon completion of the 10-year affordability term.
  • Funding comes from CPA, Local Government, and AHT.

Do you have to pay it back?

Down Payment Assistance Program is forgiven after 10 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Forgiven at the end of the 10-year affordability term. Due in full upon sale, transfer, refinance without Trust approval, loss of owner-occupancy, or other term violation during the 10-year period.
  • The assistance is recorded in 2 position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: First-time buyer required (no ownership in past 3 years).
  • The home is occupied as a primary residence
  • On credit: Not formally published; lender minimums apply (typically 620+ for conforming/FHA)
  • A completed homebuyer education course, through Bread & Roses Housing, Centro de Apoyo Familiar (CAF), and other HUD-approved/CHAPA-certified counseling agencies
  • Residency: Property must be located in the Town of North Andover and used as the borrower's primary residence for the 10-year affordability period.
  • Citizenship or immigration status: U.S. citizen or eligible non-citizen per first-mortgage product
  • First-time buyer required (no ownership in past 3 years). Income limit 100% HUD AMI for Boston-Cambridge-Newton HMFA. Property must be located in North Andover; single-family home or condominium; used as principal residence. Deferred-payment loan is interest-free; no repayment unless the property is sold or transferred, refinanced without Trust approval, no longer used as primary residence, or the borrower otherwise violates terms within the 10-year affordability period. Loan is forgiven at the end of the 10-year term. Applications submitted to Bread & Roses Housing on a first-come, first-served basis until allocated funds are exhausted (annual allocation set by the Trust).

The program excludes

  • Manufactured homes
  • Households above 100% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Down Payment Assistance Program limits household income to 100% of the area median income, which varies by county and household size.

  • Household income at or below 100% HUD AMI for Boston-Cambridge-Newton HMFA (FY2025): approx. 1-person $93,800 to 8-person $155,450.
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 8.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Down Payment Assistance Program caps the purchase price as follows: Subject to Trust and first-mortgage lender underwriting; affordability tied to 100% AMI debt-to-income.

  • Eligible property types include Single-family detached and Condominium.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Down Payment Assistance Program serves buyers purchasing in North Andover, Massachusetts.

How do you apply?

Applications for Down Payment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Bread & Roses Housing, Centro de Apoyo Familiar (CAF), and other HUD-approved/CHAPA-certified counseling agencies.

  2. Contact the administering agency to reserve funds

    Funds are reserved through First-come, first-served via Bread & Roses Housing intake; awards continue until annual Trust allocation is exhausted., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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