A first-time purchase in Boston works differently from the generic national advice. You will likely take a required homebuyer class, put in a written offer that can itself be binding, sign a separate Purchase and Sale agreement a week or two later, and close with an attorney rather than a title company. State and city programs can lower your down payment or your rate, but each has its own income, asset and property rules. This guide walks through the whole path, in order, with the Massachusetts details that trip people up.
At a glance
- Homebuyer class
- Required
- For Boston’s assistance, MassHousing and ONE Mortgage
- Signed offer
- Can be binding
- McCarthy v. Tobin (1999)
- Closing
- With an attorney
- Not a title company
- MassHousing down payment help
- Up to $30,000
- Deferred, interest-free option, as of October 2026
- Lead inspection window
- 10 days
- For homes built before 1978, under the federal rule
- Loan Estimate
- 3 business days
- After you apply with a lender
None of this is legal, tax or lending advice. For decisions about your loan, your contract or your taxes, talk to a lender, a real estate attorney or a tax advisor.
Start with readiness and a real budget
Before you look at listings, work out what monthly payment you can carry comfortably, not just what a lender will approve. In Boston, that payment usually has more parts than people expect:
What your monthly cost and cash to close include
- Principal and interest on the mortgage.
- Property taxes, set by the city or town. Boston’s residential exemption can lower the bill on a home you own and occupy as your principal residence; you apply for it with the city after you buy.
- Homeowners insurance, or an HO-6 policy for a condo.
- Condo fees, if you buy a condominium.
- Mortgage insurance, if your loan requires it.
- Cash to close: the down payment, lender and attorney fees, title insurance and prepaid items. See our guide to closing costs in Massachusetts for what goes into that number.
Get pre-approved by a lender who knows the programs
A pre-approval is a lender’s written statement that, based on your income, assets and credit, you are approved to borrow up to a certain amount, subject to conditions. In a competitive market, sellers and listing agents expect to see one with an offer.
If you might use a state or city program, choose a lender that participates in it. MassHousing loans are made through approved lenders, ONE Mortgage is offered through participating banks, and the City of Boston publishes a list of the lenders it works with. A lender who does not offer the program cannot pre-approve you for it.
Federal rules help you compare lenders. After you apply, the lender must give you a Loan Estimate within three business days. Collect estimates from more than one lender for the same loan type and compare the rate, points and fees line by line.
First-time buyer programs in Massachusetts and Boston
MassHousing
MassHousing is the state’s housing finance agency. It offers mortgages through approved lenders for borrowers who meet income limits and buy a single-family home, condo or 2–4 family home as their primary residence. Its down payment assistance is a second mortgage paired with a MassHousing first mortgage, available in every city and town in the state for income-eligible first-time homebuyers. As of October 2026, MassHousing lists a deferred, interest-free option of up to $30,000 and amortizing options of up to $25,000. Check the current income limits for your household size and town.
ONE Mortgage (Massachusetts Housing Partnership)
ONE Mortgage is a first-time buyer program from the Massachusetts Housing Partnership (MHP). Its official page describes a low down payment, no private mortgage insurance, and an MHP interest subsidy that steps down over the first seven years of the loan. Eligible properties include condos and single-, two- and three-family homes. Applicants must not have owned a home in the three years before applying, must stay under the program’s income and asset limits, and must complete an approved pre-purchase homebuyer education class. Buyers of a two- or three-family must also complete a landlord course or one-on-one counseling. Income limits vary by community. MHP also offers ONE+Boston, an enhanced version for current Boston residents buying in the city.
City of Boston: Boston Home Center
The city’s Boston Home Center runs homebuyer classes and financial help for owning a home. The programs listed there include:
- First-Time Homebuyer Program: down payment and closing cost assistance.
- ONE+Boston: a low fixed interest rate on a 30-year mortgage, plus down payment and closing cost assistance.
- First Generation Homebuyer Program (STASH): a matched-savings program for first-generation buyers below area median income.
- Community Stabilization Fund: purchase assistance in specific neighborhoods named on the city page.
For the first two, the city requires that you have not owned property in the past three years, complete Homebuying 101, have a first mortgage pre-approval from a participating lender, meet income and asset limits, and buy a one- to three-family home or condo in Boston as your primary residence. The city also sells income-restricted homes to first-time buyers by lottery through its Boston Homes Lottery Program.
Questions to ask your lender
- Which of these programs can I combine, and in what order would we apply?
- Do the income limits use my household income or only the borrowers’ income?
- Does the property type I am considering (condo, two-family, three-family) qualify?
- How does program assistance affect my closing timeline?
The homebuyer education requirement
Take the class first, not after you find a home. Boston states that Homebuying 101 is required to apply for any of its first-time homebuyer financial assistance programs; the class is offered through partner agencies and covers mortgages, the search, legal steps and working with professionals. MassHousing says homebuyer education is required for its mortgage and down payment assistance, and ONE Mortgage requires an approved pre-purchase class. Keep your certificate; lenders will ask for it.
Searching for a home
Decide what matters before you tour: commute and transit line, housing type (condo, single-family, two- or three-family), outdoor space, parking, and how much renovation you can take on. Our neighborhood guides describe housing stock and transit area by area, such as Dorchester, Jamaica Plain and the South End.
As you search, ask about anything that affects financing or cost: the year built (for lead paint), condo fees and reserves, rental restrictions, special assessments and whether a multi-family has tenants. If you are considering a two- or three-family, read our guide to buying a multi-family in Boston; for condos, see buying a condo in Boston.
Offer, then Purchase and Sale agreement
Massachusetts purchases usually happen in two signed stages. First you submit a written Offer to Purchase with a deposit, a price, contingencies and deadlines. Once the seller accepts, the parties negotiate a longer Purchase and Sale agreement (P&S), typically with attorneys involved, and you pay an additional deposit when you sign it.
Our guide to making an offer in Massachusetts covers deposits, contingencies and negotiation in detail.
Inspections, including lead paint
Home inspection. Schedule it quickly after your offer is accepted, since the inspection deadline is often short.
Under Massachusetts law, brokers must give you a state brochure on home inspections when you sign the first written purchase contract, and they may not directly recommend a specific inspector unless they are working for you under a written buyer’s agency agreement or disclosure. They can give you the state’s full list of licensed inspectors on request.
Ask the seller early whether a letter of compliance or interim control exists. If not, factor possible deleading into your budget and timeline.
Other inspections. Consider pest, radon, sewer line or chimney inspections where the home calls for them. For condos, your review of the association’s documents matters as much as the unit inspection.
Attorneys and closing
Massachusetts closings are handled by attorneys. The Supreme Judicial Court has said that an attorney must be involved in the closing of real property conveyances and must play a meaningful role, not just witness signatures (REBA v. NREIS, 459 Mass. 512 (2011)). When you have a mortgage, the closing attorney usually represents the lender. Many buyers hire their own attorney to review the offer and P&S and to answer questions at closing.
Before closing
- Your lender must deliver your Closing Disclosure at least three business days before you close. Compare it with your Loan Estimate.
- Confirm wiring instructions by phone with the closing attorney’s office using a number you already know. Never trust instructions that arrive by email alone.
- Do a final walk-through to confirm the home’s condition and that agreed repairs were made.
The seller is responsible for equipping the home with approved smoke detectors at sale (M.G.L. c. 148, § 26F) and for the local fire department’s carbon monoxide alarm inspection (§ 26F½), and for the deed excise tax. After closing, the deed and mortgage are recorded at the registry of deeds.
Common first-time buyer mistakes
Talk it through with us
If you are just starting out, The Pettengill Group is happy to walk you through the process, connect it to the neighborhoods you are considering, and help you plan a search. Start your home search or get in touch with any questions.