How much down payment do I need to buy a house in Massachusetts?

You can buy a home in Massachusetts with as little as 0% down (VA/USDA), 3% down ($17,850 conventional), or 3.5% down ($20,825 FHA) on the median-priced home of $595,000.

What income do I need to buy a home in Massachusetts?

To afford the median-priced home in Massachusetts ($595,000) with a 30-year mortgage at 6.28%, you typically need a household income of approximately $148,802 per year (using the 28% rule). The median income in Massachusetts is $89,645.

What is the FHA loan limit in Massachusetts for 2026?

The FHA loan limit in Massachusetts for 2026 is $828,000. This means first-time buyers using FHA loans can finance up to this amount with just 3.5% down payment.

First-Time Home Buyer Massachusetts 2026

Q: What first-time home buyer programs are available in Massachusetts?

Massachusetts offers 2 major first-time buyer programs including MassHousing DPA, ONE Mortgage. These programs provide grants, forgivable loans, and below-market rates to help with down payment and closing costs.

Your complete guide to buying your first home in Massachusetts. 2+ down payment assistance programs, FHA loans from 6.08%, and step-by-step guidance.

Median Price

$595,000

Min Down (FHA)

$20,825

DPA Programs

Best Rate

6.08%

Check My Massachusetts Eligibility

What First-Time Buyer Programs Are Available in Massachusetts?

Massachusetts offers 2 major first-time home buyer assistance programs. These include MassHousing DPA, ONE Mortgage. Programs provide up to $50,000 in down payment assistance through grants, forgivable loans, and below-market interest rates.

How Much Do I Need to Buy in Massachusetts?

You can buy a home in Massachusetts with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$20,825), and conventional loans start at 3% ($$17,850) on the median price of $595,000.

Loan Type	Down Payment	$ Amount	Monthly P&I	Min Credit
VA Loan	0%	$0	$3,579	620
USDA Loan	0%	$0	$3,675	640
Conventional 3%	3%	$17,850	$3,565	620
FHA Loan	3.5%	$20,825	$3,472	580
Conventional 20%	20%	$119,000	$2,940	620

Massachusetts Down Payment Assistance Programs

MassHousing DPA

DPA up to $50K in select markets

Up to $50,000deferred

ONE Mortgage

Fixed-rate, no PMI, low down payment

Up to No PMI savingslow interest

5 Steps to Buy Your First Home in Massachusetts

To buy your first home in Massachusetts, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.

Check Your Credit & Finances

Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In Massachusetts, you may need as little as $20,825 for an FHA down payment.

Get Pre-Approved

Compare rates from at least 3 lenders. Current Massachusetts rates: 6.28% (30-year), 6.08% (FHA). Pre-approval shows sellers you're serious and locks your rate.

Apply for Massachusetts DPA Programs

Massachusetts has 2+ DPA programs. The MassHousing DPA offers up to $50,000. Apply early—funding can be limited.

House Hunt & Make an Offer

Popular cities in Massachusetts: Boston, Worcester, Springfield, Cambridge, Lowell. Median price is $595,000 (+6.3% YoY). Work with a local real estate agent who knows the market.

Close on Your New Home

Closing costs in Massachusetts typically run 2-5% of the purchase price ($17,850-$29,750). Some DPA programs also cover closing costs.

Start Your Massachusetts Home Buying Journey

Get pre-approved in minutes and see what you qualify for.

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Massachusetts First-Time Buyer FAQ

What first-time home buyer programs are available in Massachusetts?

Massachusetts offers 2 major programs: MassHousing DPA, ONE Mortgage. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.