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Massachusetts expands $25,000 zero-interest down payment aid to buyers up to 135% of AMI
Summary
State officials announced a $25 million expansion of MassHousings down payment assistance to provide up to $25,000 at 0% interest, deferred until sale or refinance, for eligible first-time buyers up to 135% of area median income (example: up to $205,000 in parts of eastern Massachusetts).
An administration official announced a $25 million expansion of MassHousings down payment assistance program that will make up to $25,000 available to first-time homebuyers at 0% interest, with repayment deferred until sale or refinance.
The official said the expanded pool will reach buyers with incomes up to 135% of area median income (AMI), and gave an example that in eastern Massachusetts that cap could be about $205,000 a year. "We're going to make this available to anybody who is all the way up to 135% of area median income," the official said, framing the move as part of the administrations broader effort to increase homeownership and lower housing…
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