The government keeps promising us that they will do something about housing affordability, like first time Boston condo for sale buyers, so it’s natural for us to get our hopes up. There are home buyers and sellers who are probably waiting to see what happens before they take action!

To be more affordable, we need more Boston condos for sale.

Will their proposals create more supply? Let’s review:

We already saw yesterday that the $200 million in MBS purchases will likely result in a temporary sugar-high, at best, and benefit the first time Boston condo for sale buyers. Hard to see how that will create more supply by itself, though a few buyers will also be home sellers.

Senator Warren was touting her 40-point plan on television this morning. It may lead to more supply, but it will be in the manufactured homes and ADUs sector:

While I’m a big believer in ADU homes, I don’t see anything on her list that will help the existing Boston condo resale markets.

Is there govt. assistance programs for first time Boston condo buyers?

Yes, several government assistance programs are available for first-time condo buyers in Boston, primarily offered through the City of Boston’s Boston Home Center and the statewide MassHousing and Massachusetts Housing Partnership (MHP) programs. These programs often provide grants, low-interest loans, and down payment assistance.

Key Boston and Massachusetts Programs

City of Boston First-Time Homebuyer Program: Offers income-eligible grants for down payment and closing costs on one-to-three family homes or condos in Boston. Assistance can be up to $50,000 for households earning less than 100% of the Area Median Income (AMI), and up to $35,000 for those between 101% and 135% of AMI. Eligibility requires being a first-time homebuyer, having less than $100,000 in assets, and completing a Homebuying 101 class.
ONE+Boston Program: Combines City of Boston funds with MHP’s ONE Mortgage, providing discounted fixed 30-year interest rates and enhanced down payment assistance, without private mortgage insurance (PMI).
MassHousing Mortgage and Down Payment Assistance (DPA): Provides fixed-rate mortgages and DPA as a second mortgage for condos statewide. DPA amounts vary by location and income.
Massachusetts Affordable Housing Alliance (MAHA) STASH Program: A matched savings program for first-generation, first-time homebuyers. As of 2025, it can provide up to a $20,000 match for homes purchased in Boston.

General Requirements

Common requirements for these programs include being a first-time homebuyer (typically not having owned a home in the last three years), the property serving as your primary residence, meeting income and asset limits, completing a homebuyer education course, and obtaining mortgage pre-approval from a participating lender.

How to Get Started

To learn more about eligibility and apply, contact the Boston Home Center or explore resources from MassHousing and My Mass Home, bostonreb.com

AI responses may include mistakes. For financial advice, consult or visit bostonreb.com