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 and 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.

U.S. Department of Veterans Affairs– Home purchase loans for Veterans, active duty service members, navy and national guard members and surviving spouses. The VA loan features such benefits as no down payment and no private mortgage insurance.

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

Central Falls

In partnership with the City of Central Falls, Pawtucket Central Falls Development is offering a Closing Cost Assistance Program to eligible first-time homebuyers in the City of Central Falls.

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 $7,500 to assist with down payment in the purchase of their first home. The no-interest loan will be partially forgiven ($3,750 forgiven after 5 years) and partially deferred ($3,750).

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 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

Attleboro

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Arlington

Down Payment Assistance Loan-DPA is a 0% interest, no monthly payments, five (5) year forgivable loan provided by The North Suburban Consortium (NSC) for eight NSC communities.

Barnstable

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Boston

One+Boston – combines City of Boston funds with the affordable features of the ONE Mortgage Program to increase the buying power for income-eligible, first-time Boston home buyers purchasing a home within the City.

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Braintree

South Shore HOME Consortium’s First Time Homebuyer Program – The Program provides 0% interest, deferred payment loans to qualifying households that are purchasing a single-family home, condominium, or townhouse in Quincy, Braintree, Holbrook, or Weymouth.

Brockton

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Cambridge

Down Payment and Closing Cost Assistance Loan – Buyers may be eligible for a forgivable loan of up to 6% of the purchase price.

Chelsea

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Chicopee

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Easton

First Time Home Buyer Down Payment Grant – up to $95,000 or 35% of the purchase price of an eligible Easton home.

Everett

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Fall River

First Time Home Buyer Down Payment & Closing Cost Assistance Program – Assistance of up to $10,000 is available. The property must be located in Fall River.

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Fitchburg

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Framingham

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Haverhill

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

Holbrook

Holyoke

Home Buyer Down Payment Assistance Loan – The Holyoke Housing Authority offers first time home buyer financial assistance up to $4,999. Recipients of first time home buyer funds must meet HHA, HUD, and OCD eligibility criteria and complete a first time home buyer education class.

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.

Leominster

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Lowell

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

Lynn

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Malden

Down Payment Assistance Loan – DPA is a 0% interest, no monthly payments, five (5) year forgivable loan provided by The North Suburban Consortium (NSC) for eight NSC communities.

Medford

Down Payment Assistance Loan – DPA is a 0% interest, no monthly payments, five (5) year forgivable loan provided by The North Suburban Consortium (NSC) for eight NSC communities.

Melrose

Down Payment Assistance Loan – DPA is a 0% interest, no monthly payments, five (5) year forgivable loan provided by The North Suburban Consortium (NSC) for eight NSC communities.

Metheun

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

New Bedford

“Neighborhoods First” First Time Home Buyer Program

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Peabody

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Pittsfield

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Plymouth

Office of Community Development & Affordable Housing Down Payment Assistance Trust Program – up to $15,000 for a zero percent interest loan.

Quincy

Revere

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Salem

Offers First Time Home Buyer Down Payment Assistance Loans

Springfield

Down Payment Assistance Program

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Taunton

First Time Homeowner Down Payment Assistance Program – provides up to $25,000.00 for down payment and/or closing costs for eligible first time homebuyers purchasing a property located in one of ProHome, Inc. service areas.

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Westfield

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

Weymouth

Worcester

Down Payment Assistance Grants – HUD Community Development Block Grant funding provides first time income qualified homebuyers with up to $5000 in down payment and closing cost assistance.

MassHousing Down Payment Assistance – You may be eligible for down payment assistance of 5% of a home’s purchase price, up to $25,000 along with a number of other benefits!

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.

Hartford

HouseHartford Down Payment Assistance Program

New Haven

Down Payment & Closing Cost Assistance 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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Update: As with any program, the powers that be regularly review their first-time home buyer benefits to make sure that they meet the needs of their residents. The list above is an updated list as of August 2021. Also note that the locations may also have programs for homes occupied by owners, investors, and others that are not listed here.

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