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Statewide programRepayable

ONE Mortgage Program

ONE Mortgage Program is a repayable second loan for homebuyers in Massachusetts.

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Check if this fits me Official program site ↗

The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 640 credit score
  • A completed homebuyer education course
  • Residency: No Requirement
  • Citizenship or immigration status: U.S. Citizen or Permanent Resident
  • A home in Massachusetts

It doesn’t cover

  • Purchases above the $653,700 price cap
  • Households above 80% 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.

Income limit

80% of the area median income where the home is

HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.

Income limits in Massachusetts

Where it applies

Massachusetts’s homes

  • 51.1% single-family
  • 5.9% townhouse
  • 20% 2–4 units
  • 22.2% 5+ units
  • 0.8% mobile & other

A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.

$562,100

Massachusetts median home value

67.4%

built before 1980

U.S. Census Bureau, ACS 2024 5-year.

How to apply

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact the administering agency to reserve funds

    Funds are reserved through First-Come-First-Served, 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 homebuyer can take it to a lender or housing counselor.

Questions about this program

What is ONE Mortgage Program?

ONE Mortgage Program is a repayable second loan for homebuyers in Massachusetts. ONE Mortgage is Massachusetts' affordable homeownership program offering a fixed-rate, below-market interest rate conventional mortgage with no private mortgage insurance (PMI) required. Eligible first-time homebuyers need only 3% down payment. Must be used with a participating ONE Mortgage lender. Administered by the Massachusetts Affordable Housing Alliance (MAHA) in partnership with lenders statewide. Below-market fixed interest rate first mortgage for income-eligible first-time homebuyers in Massachusetts. no points charged. reduced private mortgage insurance (PMI) costs. available through approved ONE Mortgage lenders statewide. Funding comes from State.

Do you have to pay it back?

ONE Mortgage Program is a repayable second loan and is repaid under the terms set by the administering agency. The assistance is recorded in 1st 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 Mortgage Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 640. A homebuyer education course is required. Residency requirement: No Requirement. Citizenship or immigration status: U.S. Citizen or Permanent Resident.

What are the income limits?

ONE Mortgage Program limits household income to 80% of the area median income, which varies by county and household size. The limit applies to total household income, not only the borrower’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 Mortgage Program caps the purchase price at $653,700. Eligible property types include Single Family, Condo, Townhouse, and 2-4 Unit.

Where does it apply?

ONE Mortgage Program serves homebuyers purchasing anywhere in Massachusetts.

How do you apply?

Applications for ONE Mortgage 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. 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.

Also for Massachusetts homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 68 programs for Massachusetts

Program terms are set by the administering agency and can change; confirm on the official site before you apply.