First-Time Home Buyer Guide for Massachusetts: Programs and Tips for 2026

Massachusetts has some of the highest home prices in the country, particularly in Greater Boston, the North Shore, and South Shore markets. But the state also has strong first-time buyer programs that reduce upfront costs for eligible buyers.

MassHousing Programs

MassHousing is Massachusetts' state housing finance agency. The MassHousing Mortgage provides competitive rates and down payment assistance of up to 5% of the purchase price for eligible buyers. MassHousing also offers Mi Plus — a unique feature that covers your mortgage payment for up to six months if you experience job loss, at no additional cost to the borrower.

The ONE Mortgage Program

The ONE Mortgage is a partnership between MassHousing and participating lenders offering a fixed-rate 30-year loan with a minimum 3% down payment and no PMI. Instead of PMI, the program subsidizes the rate on a portion of the loan. For income-eligible buyers, this results in lower monthly payments than comparable FHA financing. Income and purchase price limits vary by county.

Boston Metro: High Competition, Strong Demand

Greater Boston's market is driven by tech, healthcare, and education sectors. First-time buyers need a strong pre-approval and the ability to move quickly. Knowing your full financing picture — including programs you qualify for — before you start searching is essential.

Western MA: More Accessible Markets

The Pioneer Valley, Berkshires, and western Massachusetts offer significantly more affordable entry points. Many areas qualify for USDA zero-down financing, and competition is considerably less intense than the Boston metro.

At East Coast Mortgage, we originate mortgages across Massachusetts and structure both primary residence and investment financing for MA buyers. Submit your scenario to explore your options.