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First-Time Buyer loans in Massachusetts

Quick answer

First-time buyers in Massachusetts can use FHA (3.5% down), conventional 97 (3% down), VA or USDA loans, plus programs from MassHousing. On a $525,800 home, 3% down is about $15,774.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

First-Time Buyer loan snapshot for Massachusetts

ItemEstimate
Minimum down payment0%–3.5%
Minimum credit score580–620
Typical MA home value$525,800
3.5% down on typical home$18,403
20% down on typical home$105,160
Avg. effective property tax1.11%/yr (~$485/mo)
Income for typical home (31% rule)$168,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Massachusetts programs pair with First-Time Buyer loans?

  • MassHousing Down Payment Assistance: A deferred second loan toward down payment and closing costs for eligible buyers.
  • Workforce Advantage: Higher assistance and reduced mortgage insurance for moderate-income first-time buyers.

Details and current limits: MassHousing.

Compare first-time buyer loan options

LoanMin. downMin. creditMortgage insurance
FHA3.5%5801.75% upfront + annual MIP
Conventional 97 / HomeReady / Home Possible3%620PMI, removable
VA0%Lender-set (~580–620)None (funding fee)
USDA0%~6401% upfront + 0.35% annual

Who counts as a first-time home buyer?

Under HUD and most agency definitions, you're a first-time buyer if you haven't owned a principal residence in the last three years. Single parents and displaced homemakers who only owned with a former spouse may also qualify.

First-Time Buyer loans in Massachusetts cities

First-Time Buyer in BostonFirst-Time Buyer in WorcesterFirst-Time Buyer in SpringfieldFirst-Time Buyer in CambridgeFirst-Time Buyer in LowellFirst-Time Buyer in BrocktonFirst-Time Buyer in QuincyFirst-Time Buyer in LynnFirst-Time Buyer in New BedfordFirst-Time Buyer in Fall RiverFirst-Time Buyer in NewtonFirst-Time Buyer in LawrenceFirst-Time Buyer in SomervilleFirst-Time Buyer in FraminghamFirst-Time Buyer in HaverhillFirst-Time Buyer in MaldenFirst-Time Buyer in WalthamFirst-Time Buyer in BrooklineFirst-Time Buyer in RevereFirst-Time Buyer in TauntonFirst-Time Buyer in MedfordFirst-Time Buyer in Weymouth TownFirst-Time Buyer in ChicopeeFirst-Time Buyer in PeabodyFirst-Time Buyer in Methuen TownFirst-Time Buyer in EverettFirst-Time Buyer in Barnstable TownFirst-Time Buyer in AttleboroFirst-Time Buyer in ArlingtonFirst-Time Buyer in SalemFirst-Time Buyer in LeominsterFirst-Time Buyer in PittsfieldFirst-Time Buyer in BeverlyFirst-Time Buyer in FitchburgFirst-Time Buyer in MarlboroughFirst-Time Buyer in WoburnFirst-Time Buyer in WestfieldFirst-Time Buyer in ChelseaFirst-Time Buyer in Braintree TownFirst-Time Buyer in HolyokeFirst-Time Buyer in Amherst TownFirst-Time Buyer in Watertown TownFirst-Time Buyer in Randolph TownFirst-Time Buyer in LexingtonFirst-Time Buyer in Franklin TownFirst-Time Buyer in NeedhamFirst-Time Buyer in NorwoodFirst-Time Buyer in North Attleborough TownFirst-Time Buyer in WellesleyFirst-Time Buyer in GloucesterFirst-Time Buyer in MelroseFirst-Time Buyer in Bridgewater TownFirst-Time Buyer in NorthamptonFirst-Time Buyer in West Springfield TownFirst-Time Buyer in SaugusFirst-Time Buyer in Agawam TownFirst-Time Buyer in MiltonFirst-Time Buyer in DanversFirst-Time Buyer in MilfordFirst-Time Buyer in Wakefield

Frequently asked questions

Yes. First-Time Buyer loans are available statewide in Massachusetts through approved lenders, subject to county loan limits where they apply.

Often yes. MassHousing and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.