ONE+Boston Homebuyer Program
This mortgage program provides low interest mortgages to qualified Boston homebuyers.
ONE+Boston offers the lowest fixed interest rates available for a 30-year mortgage. Additionally, it provides access to downpayment and closing-cost assistance. The City wants to increase the buying power of income-eligible, first-time homebuyers purchasing a home within the city of Boston.
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43 Hawkins street
boston, ma 02114
MONDAY THROUGH FRIDAY, 9 A.M. - 5 P.M.
What is ONE+Boston?
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.
Afford More When Buying a Home in Boston
| Mortgage Type | Conventional | One Mortgage | ONE+ Boston |
|---|---|---|---|
| Mortgage Type | Purchase Price | ||
| Conventional | $400,000 | ||
| One Mortgage | $485,000 | ||
| ONE+ Boston | $585,000 | ||
| Mortgage Type | Your Down Payment Funds | ||
| Conventional | $12,000 | ||
| One Mortgage | $14,550 | ||
| ONE+ Boston | $8,850 | ||
| Mortgage Type | Interest Rate | ||
| Conventional | 7% | ||
| One Mortgage | 6.7% | ||
| ONE+ Boston | 4.7% | ||
| Mortgage Type | Private Mortgage Insurance | ||
| Conventional | $400 | ||
| One Mortgage | $0 | ||
| ONE+ Boston | $0 | ||
| Mortgage Type | Taxes and Hazard Insurance | ||
| Conventional | $480 | ||
| One Mortgage | $565 | ||
| ONE+ Boston | $702 | ||
| Mortgage Type | MHP Interest Subsidy | ||
| Conventional | $0 | ||
| One Mortgage | $154 | ||
| ONE+ Boston | $82 | ||
| Mortgage Type | Total Monthly Payment | ||
| Conventional | $3,461 | ||
| One Mortgage | $3,446 | ||
| ONE+ Boston | $3,457 |
Applying for the program
- Are you a current Boston resident, have resided in Boston in the past two years, or do you work in Boston?
- Are you a first-time homebuyer? You can qualify if you haven’t owned a home in the last three years.
- Do you meet all of the qualifying requirements for ONE+ Boston Mortgage, including our income limits? Visit MHP’s ONE+Boston webpage.
- Find out if you are eligible. Visit the One+Boston website for a full list of qualifications.
- Take a homebuyer class. Complete an approved pre-purchase homebuyer education class before applying.
- Find a participating lender and meet with them to determine your eligibility for ONE+Boston. Please contact a lender before coming to the Boston Home Center for downpayment and closing cost assistance.
For more information on the City of Boston's financial assistance for homebuyers programs, check out this page.
Who's Involved:
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43 Hawkins street
boston, ma 02114
MONDAY THROUGH FRIDAY, 9 A.M. - 5 P.M.
