""We're bringing this assistance to a wider cross-section of the middle class who are being priced out of homeownership right now," Healey said in a statement."
""For many families, the biggest obstacle to buying a first home is saving enough for a down payment," Juana Matias, Housing and Livable Communities Secretary, said in a statement."
Massachusetts is expanding its first-time buyer home assistance program, offering $25,000 interest-free loans to more residents. This initiative aims to assist those priced out of homeownership due to high home prices. Eligible buyers can use the funds for down payments, closing costs, or to reduce interest rates. The program targets first-time homebuyers earning up to 135% of the area median income. Previously, assistance was available only as a second mortgage with interest. The new program significantly lowers upfront costs for buyers.
Read at Boston.com
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