First Time Home Buyer Benefits in RI, MA & CT

    When you’re ready to buy your first home, you might qualify for first time home buyer benefits. Because owning is a huge financial decision, many programs exist to help you achieve the American Dream. These include low- to no-down payment programs, closing cost assistance, grants & tax credits, and more.

    If you’re buying in Rhode Island, Massachusetts, or Connecticut, keep reading to discover the first time home buyer benefits you might be eligible for.

    Nationwide Home Buyer Benefit Programs

    Habitat for Humanity – Through volunteer labor, builds and rehabilitates houses for families in need. Learn how to qualify and apply using this helpful resource.

    U.S. Department of Agriculture Rural Housing – If you’re looking to buy in a rural community (visit this Eligibility Lookup Tool for designated areas), this 100% financing program might be for you.

    First time home buyer benefits in Rhode Island

    Statewide and Regional Programs

    Rhode Island Housing – Discover programs to help cover your down payment, and get help with closing cost assistance.

    • First Homes Tax Credit – The program provides qualified first-time Rhode Island home buyers (and non-first time home buyers purchasing a home in parts of Central Falls, Pawtucket, Providence, and Woonsocket) with a mortgage credit certificate. You’ll receive a dollar-for-dollar tax credit of up to $2,000 against your federal tax liability for the life of the loan.
    • Closing Cost and/or Down Payment Assistance –  RI Housing offers a 15 year fixed second mortgage to finance the down payment and/or closing costs.

    Programs by City or Town

    Cranston

    The City of Cranston website provides many resources for first time home buyers. These include:

    • Financial assistance
    • Down payment assistance
    • Closing cost assistance

    Providence

    Providence offers several first time home buyer benefits, including the HOME Program, lead paint abatement, and down payment/closing cost assistance.

    Woonsocket

    Woonsocket Safe at HOME Rehab Program – provides qualified Woonsocket homeowners with a no interest loan of up to $25,000 to assist with covering the cost of complying with RI State Property Maintenance Code, making code-related repairs and removing lead hazards.

    Woonsocket FIRST HOME Down Payment Assistance Program – provides qualified Woonsocket home buyers with a loan in the amount of up to $5,000 to assist with down payment in the purchase of their first home. The no-interest loan will be partially forgiven ($2,500 forgiven after 5 years) and partially deferred ($2,500).

    First time home buyer benefits in Massachusetts

    Statewide and Regional Programs

    MassHousing – Offers affordable mortgage options to low- and moderate-income buyers, closing cost assistance to military borrowers, and even a no-mortgage-insurance-required program, among other benefits.

    Massachusetts Department of Housing and Community Development – At Spectrum, we’re all about keeping you informed. If you want to learn more about mortgages, down payments, and closing costs, check out this great resource.

    Massachusetts Housing Consumer Education Centers – Find a center near you that offers classes to teach you all about buying a home, from credit scores, to home inspections, taxes, and more.

    Massachusetts Housing Partnership – Offers the ONE Mortgage Program for first-time home buyers, which gives you peace of mind knowing that your mortgage is financially sustainable.

    Programs by City or Town

    Arlington

    Affordable condominiums for first time buyers — contact Erin Zwirko at ezwirko@town.arlington.ma.us

    Boston

    Neighborhood development: Discover classes, financial assistance programs, and much more.

    Cambridge

    Cambridge offers many classes and counseling if you’re buying a home or condo, need financial and/or down payment assistance, or other affordable mortgage products.

    Easton

    Learn about home buyer assistance programs and more.

    Fall River

    HOME Program: Find out about one-to four-family properties, manufactured or mobile homes, and condominiums or cooperatives located in Fall River which meet FHA Mortgage Limits for the area.

    Framingham

    Housing Rehabilitation Program: Offers assistance to low-and moderate-income homeowners with emergency home rehabilitation.

    Haverhill

    First Time Homeowner Down Payment Assistance Program: Provides up to $7,500 for down payment and/or closing costs.

    Holyoke

    Community development: Get more information and education about home buying, and see if you qualify for down payment assistance.

    Lawrence

    First Time Home Buyers Program: Through the HOME Program, first time home buyers can get help with down payment, closing costs, and mortgage principal reduction.

    Lowell

    First Time Home Buyers Program: You may qualify for a loan up to $10,000.

    Malden

    Offers first time home buyer down payment assistance loans.

    Medford

    Offers first time home buyer workshops, and down payment & closing cost assistance.

    Melrose

    Offers workshops, as well as financial assistance and down payment & closing cost assistance for first time home buyers.

    New Bedford

    “Neighborhoods First” First Time Home buyer program

    Massachusetts Housing Partnership (MHP) “ONE” Program

    Newton

    Home buyers Assistance Program 

    Peabody

    Visit the City of Peabody website for information about Massachusetts Housing Partnership (MHP), Transit Oriented Home Mortgage Loans, and other first time home buyer benefits.

    Plymouth

    Provides Down Payment Assistance for first time home buyers.

    Quincy

    HOME Program

    Salem

    Offers First Time Home buyer Down Payment Assistance Loans

    Somerville

    Somerville Community Corporation First–Time Home Buyer Seminars

    Springfield

    Down payment assistance program

    Taunton

    First Time Home Buyer Program provided by ProHome, Inc.

    Weymouth

    Includes a first time buyer program, as well as a home rehabilitation loan and grant.

    Worcester

    Live Worcester Now

    Lead Paint Abatement

    First time home buyer benefits in Connecticut

    Statewide and Regional Programs

    Connecticut Housing Finance Authority – Provides programs offering down payment/closing cost assistance.

    Capital for Change – Offers energy efficiency loan programs, mortgage assistance and repair loan programs for home buyers/owners.

    Housing Development Fund, Inc. – Use this helpful resource to learn more about home buyer programs, including down payment assistance for residents in Fairfield, New Haven, and Litchfield counties.

    Programs by City or Town

    Bridgeport

    HOME Program

    Fairfield

    Fairfield offers first time home buyer benefits like down payment assistance and closing cost assistance.

    Hamden

    Provides down payment assistance up to $5,000.

    Hartford

    Hartford offers programs including:

    Manchester

    Use Manchester’s site for help with:

    Middletown

    Middletown offers state programs for first time home buyers.

    New Haven

    Down payment & closing cost assistance

    Housing Counseling

    Norwalk

    Norwalk offers accessibility grants, the South Norwalk Renovation Program, and rehabilitation assistance.

    Stamford

    HOME Program

    If you’re buying in Massachusetts, Rhode Island, or Connecticut, these first time home buyer benefits can save you a lot of time and money. Take advantage of the programs you’re eligible for, and realize your dream of owning your first home!

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