ONE+Boston Homebuyer Progam

About the Program

A mortgage with a heavily discounted fixed interest rate.

Using funds provided by the City of Boston, the ONE+Boston interest rates are discounted below the already-discounted ONE Mortgage rates.

Includes enhanced downpayment assistance

For those first-time homebuyers who qualify, the City of Boston’s financial assistance will offer enhanced downpayment and closing cost assistance.

ONE+Boston will provide these benefits:

• Heavily discounted, fixed, 30-year interest rates
• Enhanced down-payment assistance through the City of Boston
• No private mortgage insurance (PMI)
• Additional financial assistance for eligible buyers

To get a ONE+Boston mortgage, you must:

• Be a current resident of the City of Boston and be purchasing within the City of Boston. You will be asked to provide a copy of your current lease, current utility bill OR voter registration
• Be a first-time homebuyer. This means that you have not owned a home at any point in the last three years.
• Take a homebuyer class. This class will help you get ready for the home-buying process.
• Meet our down payment requirements. We require a 3% down payment to buy a condo, single-family home, or two-family home. At least 1.5% of the purchase price must be from your own savings. For a three-family property, we require a 5% down payment with at least 3% from your own savings. The City of Boston is providing enhanced down payment assistance as part of this program.
• Have a total household income under our limits.

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