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Revere reopens down payment assistance after $705,000 state earmark
Summary
The city received a $705,000 state earmark for its first-time homebuyer down payment assistance program and reopened applications; approved applicants will have six months to find a property and funds will be awarded on a first-come, first-served basis until exhausted.
The City of Revere has reopened applications for its first-time homebuyer down payment assistance (DPA) program after receiving an unanticipated $705,000 state earmark, board members said during the Affordable Housing Trust Fund meeting.
Chair Joe Gravalese announced the award and said the additional funds triple the program's capacity. The trust reopened the application portal immediately and plans more aggressive outreach in the coming days, including social media and targeted notices to potentially eligible residents.
Tom Skrovsky and board members urged interested applicants to apply now even if they have not yet identified a home. Gravalese stressed that approved applicants will have six months from approval to secure a property, giving prospective buyers time to prepare during the winter before the spring buying season.
Deb Frank, who conducts regular homebuyer seminars, said she will include the program in upcoming sessions and help promote it to prospective applicants. Board members discussed coordinating outreach with Veterans Affairs and other municipal offices to expand awareness.
Program administrators said the program will run on a rolling, first-come, first-served basis until funds are exhausted; no application deadline was announced beyond funds availability.
