Get Started!

It takes less than 30 seconds to move toward homeownership. And it is free. Let us help you.



Quincy’s First Time Homebuyer Program

What is the City of Quincy’s First Time Homebuyer Program?

The City of Quincy First Time Homebuyer program consists of three separate
features, which can help you purchase a home. The City of Quincy can provide
you with:
• Up to 9% of the purchase price towards your Down Payment and up to an
additional 1% toward Closing Costs
• Access to the “Soft Second” Loan Program
• Access to rehabilitation and lead abatement loan programs

How will I benefit from using this program?

The benefits of using the program are outlined below:
• The City can provide up to 9% of a property’s purchase price toward your
Down Payment and up to an additional 1% toward your closing costs.
• This program can assist in eliminating the need for private mortgage
insurance (PMI)
• You re-pay ONLY THE INTEREST on the second mortgage for the first
ten years, after Year 10, you begin repaying full principal and interest on
the second mortgage.
• This program will help you qualify for a loan at an interest rate lower than
the participating bank’s current rate
• This program will enable you to qualify for a higher mortgage amount for
the house you purchase, allowing you to purchase a more valuable home.
• You will gain access to rehabilitation and lead abatement loans available
through the City

How do I qualify for the City’s Program?

To qualify for the City’s First Time Homebuyer Program you must:
• Have savings in the amount of 3% of the purchase price of a home to use
as a down payment
• Purchase your home in Quincy
• Complete an approved First Time Homebuyer Seminar
• Meet HUD income guidelines (See the income chart on our First Time
Homebuyer brochure to determine if your income is within the limits for the
size of your household. You must count the income of all adult members
of your household who will reside in the house. However, do not count any
income of children under 18 or any income you receive for the care of
foster children!)
• Agree to the provisions of this program