First-Time Homebuyer Program

First-Time Homebuyer Program is a deferred second loan for homebuyers in Multiple County, Massachusetts. The South Shore HOME Consortium is a HUD HOME entitlement consortium consisting of Quincy (lead), Weymouth, Braintree, and Randolph. Its First-Time Homebuyer Program pools HUD HOME funds to provide 0% interest deferred-payment second mortgages up to $20,000 for income-eligible FTHBs buying within member communities. The City of Quincy Department of Planning & Community Development administers the program for all four communities. 0% interest deferred-payment second-mortgage loan funded by HUD HOME for first-time homebuyers purchasing single-family, condominium, or townhouse properties in Quincy, Weymouth, Braintree, or Randolph (the four South Shore HOME Consortium communities). Maximum assistance varies by community (typically up to $20,000) and is repayable on sale, refinance with cash-out, or loss of primary residence. Administered by the City of Quincy Department of Planning & Community Development / Office of Healthy Homes on behalf of the Consortium. Funding comes from HOME, Federal, and Local Government.

First-Time Homebuyer Program offers up to $40,000 in assistance. Homebuyer contribution: Minimum buyer contribution typically 1.5% of purchase price from own funds. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

First-Time Homebuyer Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Deferred 0% second mortgage and principal repayable upon sale, refinance with cash-out, transfer of title, or loss of primary-residence status. HUD HOME recapture during affordability 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.

First-Time Homebuyer Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer (no ownership in prior 3 years) or displaced homemaker. On credit, the program states: First-mortgage lender determines; typical 620-640 floor. A homebuyer education course is required, through HUD-approved homebuyer counseling (NeighborWorks Housing Solutions, Quincy Community Action Programs, MAHA, etc.); 8-hour pre-purchase certificate required. Residency requirement: Property in Quincy, Weymouth, Braintree, or Randolph and buyer's primary residence for the HUD HOME affordability period. Citizenship or immigration status: U.S. citizen or eligible non-citizen per HUD HOME rules. First-time homebuyer (no homeownership in prior 3 years); household income at or below 80% AMI Boston-Cambridge-Quincy HMFA; primary-residence requirement; complete 8-hour HUD-approved homebuyer education; meet HUD HQS; MA lead-safe compliance; HUD HOME affordability covenant.

First-Time Homebuyer Program limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% AMI Boston-Cambridge-Quincy HMFA (2025): 1-person $92,650 to 8-person $174,650 (per program page income table). 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.

First-Time Homebuyer Program caps the purchase price at $858,000. Eligible property types include Single-family detached, Townhouse, and Condominium. New construction is eligible. Manufactured homes are not eligible.

First-Time Homebuyer Program serves homebuyers purchasing in Multiple County, Massachusetts. The program targets specific areas: South Shore HOME Consortium: Quincy, Weymouth, Braintree (Norfolk County); Randolph (Norfolk County). Plymouth County subgrants vary.

Applications for First-Time Homebuyer Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served subject to availability; applicant submits SSHC application package to City of Quincy. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.