MHP ONE Mortgage / ONE+Boston (First-Time Homebuyers)

About This Program

ONE+Boston combines the Commonwealth's most affordable first-time homebuyer mortgage (ONE Mortgage) with City of Boston down payment and closing cost assistance. The program requires only 3% down (1.5% from savings), no private mortgage insurance, and offers the lowest available fixed rates. Applicants must have under $75,000 in household assets and complete a homebuyer education class. Income limits apply and vary by household size.

3% down payment (1.5% from own funds); no PMI; low fixed rate. City provides additional DPA. Household assets must be under $75,000. Income limits vary; credit score minimum 640.

Key Details

• Boston's most affordable first-time homebuyer mortgage — 3% down, no PMI
• City of Boston adds down payment and closing cost assistance
• Household assets must be under $75,000 (excluding most retirement accounts)
• Must complete an approved homebuyer education class before applying
• Contact Boston Home Center at 617-635-4663 or visit boston.gov/firsttimehomebuyer

How to Apply

Deadline: Rolling — contact participating lenders