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Massachusetts expands "1 Plus" homebuyer program in Lynn with $11 million launch
Summary
Governor Maura Healey and Lieutenant Governor Kim Driscoll announced an expansion of the "1 Plus" first-time homebuyer program in Lynn, backed by an initial $11,000,000 in public and philanthropic funding to provide down-payment and closing-cost assistance, interest-rate buydowns and counseling in 29 communities.
Governor Maura Healey and Lieutenant Governor Kim Driscoll joined state officials, philanthropic leaders and bank partners in Lynn to announce an expansion of the 1 Plus mortgage program intended to make homeownership more attainable in gateway cities across Massachusetts.
The administration said the launch is supported by an initial combined investment of $11,000,000 and by commitments from philanthropic and private lenders, and will deliver down-payment and closing-cost assistance, interest-rate buydowns and post-purchase counseling. "It will help with down payments and other costs totaling up to $50,000 for each participant," the governor said, describing the program as a tool to unlock homeownership in 29 cities and towns, including 26 gateway cities.
The program builds on legislation and bond funding advanced by the state. The governor referenced the Affordable Homes Act and a…
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