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ONE+Boston Home Buyer Program

Boston, Massachusetts

Last verified
See what you qualify forOfficial program site →
Assistance

3%

Of the purchase price, as the program sets it

Income limit

135% AMI

Of area median income; varies by county and household size

Price cap

$585,000

Highest purchase price the program allows

Repayment

Deferred

No payments until the home is sold or refinanced

What is ONE+Boston Home Buyer Program?

ONE+Boston Home Buyer Program is a deferred second loan for homebuyers in Boston, Massachusetts.

  • City of Boston's marquee FTHB program. Pairs MHP/MassHousing ONE Mortgage (30-yr fixed, no PMI, 3% down) with additional City of Boston DPA grant (3% up to $50,000 / 2% up to $35,000 by AMI tier) and city-funded interest-rate buy-down. Property must be in City of Boston. 640 FICO 1-unit / 660 FICO 2-3 family. Max purchase $585,000 (1-unit). FTHB required.
  • ONE+Boston is the City of Boston's marquee first-time homebuyer program, combining the affordable MassHousing/MHP ONE Mortgage first-mortgage product (30-year fixed.
  • LOWEST available fixed rate.
  • NO PRIVATE MORTGAGE INSURANCE.
  • just-3% down) PLUS additional City of Boston down payment assistance + a city-funded interest-rate buydown that yields the lowest fixed 30-year mortgage rate available in Boston for first-time homebuyers. Boston DPA grant amounts: 3% of purchase price up to $50,000 + closing costs for borrowers at or below 100% AMI.
  • 2% of purchase price up to $35,000 for borrowers between 101-135% AMI. ONE Mortgage requires only 3% down (1.5% from borrower's own funds) with no PMI. Maximum purchase price $585,000 (single-family/condo) - higher caps apply to 2-3 family. 640 FICO single-family/condo, 660 FICO multi-family. Property must be in the City of Boston. First-time homebuyer required.
  • Funding comes from Local Government, HOME, and CDBG.

How much assistance does it provide?

ONE+Boston Home Buyer Program provides assistance worth 3% of the purchase price, as set by the program.

  • Buyer contribution: Minimum 1.5% of purchase price must come from the borrower's OWN funds (verifiable savings). The remaining 1.5% of the 3% required down payment may come from gift funds, the City's DPA grant, or other DPA sources.
  • 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.

Do you have to pay it back?

ONE+Boston Home Buyer 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 City of Boston DPA component is structured as a 0% interest deferred soft-second / forgivable second mortgage. Per Boston Home Center program documentation, the DPA is forgiven over a city-defined affordability period (typically 5-15 years depending on purchase price and DPA size) provided the property remains the borrower's primary residence and balance becomes due on sale, refinance for cash-out, transfer of title, or non-owner-occupancy during the affordability period.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

ONE+Boston Home Buyer 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 homebuyer requirement - no ownership of a primary residence in past 3 years. No targeted-area waiver (program is City of Boston only).
  • The home is occupied as a primary residence
  • On credit: 640 minimum FICO for single-family / condominium purchases; 660 minimum FICO for 2-3 family multi-unit purchases.
  • A completed homebuyer education course, through Boston Home Center-approved homebuyer counseling agencies (HUD-certified MA-based agencies including MAHA, Allston-Brighton CDC, Asian CDC, Codman Square NDC, Dorchester Bay EDC, MHP, Urban Edge, others). Pre-purchase counseling required.
  • Residency: Property must be located within the City of Boston (any neighborhood: Allston, Back Bay, Beacon Hill, Brighton, Charlestown, Chinatown, Dorchester, East Boston, Fenway, Hyde Park, Jamaica Plain, Mattapan, Mission Hill, North End, Roslindale, Roxbury, South Boston, South End, West End, West Roxbury). Borrower must occupy as primary residence.
  • Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per ONE Mortgage overlays.
  • First-time homebuyer required (no ownership of primary residence in past 3 years). Property must be located in the City of Boston (any neighborhood) - this is a CITY-SPECIFIC program. Owner-occupied primary residence (1-3 unit; condo project-approved). 640 minimum FICO single-family/condo; 660 minimum FICO 2-3 family. Minimum 1.5% of purchase price from borrower's own savings (the remaining 1.5% may come from gift, DPA, grant). 45% maximum DTI. Income at or below 135% AMI for the Boston-Cambridge-Newton MSA (verify by household size; published ceiling approximately $215,450 for 4+ person 135% AMI tier). Pre-purchase homebuyer education and counseling required with a Boston Home Center-approved agency. Must use an MHP/ONE Mortgage participating lender. Income-eligibility certification through MHP.

The program excludes

  • Manufactured homes
  • Purchases above the $585,000 price cap
  • Households above 135% 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?

ONE+Boston Home Buyer Program limits household income to 135% of the area median income, which varies by county and household size.

  • Income at or below 135% of the Boston-Cambridge-Newton MSA AMI per HUD tables, by household size. Approximate 2026 tiers: $114,250 (1-person, lower-bound published) to $215,450 (4+ person 135% AMI ceiling). The City's DPA grant is calibrated by AMI band: <=100% AMI = 3% of purchase price up to $50,000; 101-135% AMI = 2% of purchase price up to $35,000.
  • The limit applies to total household income, not only the borrower&rsquo;s.
  • 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?

ONE+Boston Home Buyer Program caps the purchase price at $585,000.

  • Eligible property types include Single-family detached, 2-3 unit owner-occupied multi-family, condominium (project-approved). 4-unit not eligible under ONE+Boston (ONE Mortgage caps at 3 units).
  • New construction is eligible.
  • Manufactured homes are not eligible.

Is there eligibility for specific groups?

ONE+Boston Home Buyer Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

ONE+Boston Home Buyer Program serves buyers purchasing in Boston, Massachusetts.

How do you apply?

Applications for ONE+Boston Home Buyer 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 Boston Home Center-approved homebuyer counseling agencies (HUD-certified MA-based agencies including MAHA, Allston-Brighton CDC, Asian CDC, Codman Square NDC, Dorchester Bay EDC, MHP, Urban Edge, others). Pre-purchase counseling required..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Reserved through Boston Home Center application + MHP ONE Mortgage participating-lender pre-approval. Apply at boston.gov/Boston-Home-Center or onebostonhomebuyerprogram.com., 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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