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Buying a 1-3 family home or a condo in Boston? If you’re a graduate of Homebuying 101 and Homeowner 201, you may be eligible to receive financial assistance from the City of Boston.

What are the benefits?

Receive up to 3% of the purchase price for downpayment and closing costs.
Receive up to $20,000 downpayment and closing costs under the 3D Advantage program.
Receive up to $20,000 toward the purchase and repairs of a foreclosed property in certain neighborhoods. ($10,000 toward the purchase and $10,000 for the rehab.)
Who is eligible?

NOTE: Effective October 1, 2012, Homeowner 201 or Condo Owner 202 classes will be required prior to closing.

Must be a graduate of Homebuying 101 and Homeowner 201
Must not own any other property at time of purchase
Must not have a household income that exceeds 120% of the Area Median Income as determined by the U.S. Department of Housing and Urban Development (HUD)

How do I apply and what happens next?

Graduate from an approved homebuyer and homeowner education classes
You can sign up for Homebuying 101 and Homeowner 201 through the Boston Home Center, or through one of our approved partner agencies.

Meet with a participating mortgage lender to learn what you can afford
Please bring a recent credit report to this meeting. If you meet their guidelines the lender will give you a pre-qualification letter. View a list of participating mortgage lenders.

Apply for funding

Depending on the category of financial assistance for which you wish to apply, the Boston Home Center may ask you to print and complete several forms.
Applicants for up to 3% of the purchase price for downpayment and closing costs:

BHC Application for 3% Financial Assistance
BHC Financial Assistance for 1-3 Family Homes Fact Sheet
BHC No Income Affidavit, if applicable
BHC No Child Support Affidavit, if applicable

Applicants for up to $20,000 for downpayment and closing costs under the 3D Advantage program:

BHC 3D Advantage Application
BHC 3D Advantage Fact Sheet
3D Participating Lenders

Receive confirmation that your application is under review

Depending on the category of financial assistance for which you wish to apply, the Boston Home Center may ask you to print and complete several forms.

Find a property and make an offer

Now you can shop for a home knowing how much of a loan you may be able to afford and what benefits and responsibilities accompany financial assistance from the City of Boston.
Have questions? For more information about the City of Boston’s Financial Assistance programs, call:
The Boston Home Center
Department of Neighborhood Development
Phone: 617.635.HOME (4663)
Email: HomeCenter.DND@cityofboston.gov

* Dollar amounts and financial assistance offers represent conditional and/or deferred loans. Primary mortgage / refinance / rehabilitation loans must be secured by the applicant. Some programs cannot be combined. Income eligibility and other restrictions may apply, including repair types and property location.