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ONE+Boston Homebuyer Program

This mortgage program provides low interest mortgages to qualified Boston homebuyers.

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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.

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
Purchase Price $400,000 $485,000 $585,000
Your Down Payment Funds $12,000 $14,550 $8,850
Interest Rate 7% 6.7% 4.7%
Private Mortgage Insurance $400 $0 $0
Taxes and Hazard Insurance $480 $565 $702
MHP Interest Subsidy $0 $154 $82
Total Monthly Payment $3,461 $3,446 $3,457

Applying for the program

Is ONE+Boston for me?
  • 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.
What are my next steps?
  1. Find out if you are eligible. Visit the One+Boston website for a full list of qualifications.
  2. Take a homebuyer class. Complete an approved pre-purchase homebuyer education class before applying. 
  3. 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.
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