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Get Matched Free →Homebuyer Programs in Amherst, MA (2026)
Amherst is a college town in Hampshire County, home to UMass Amherst and Amherst College, with a population of about 39,000 and a median home price around $490,000. Valley Community Development Corporation offers grants up to $4,500 specifically for first-time homebuyers purchasing in Amherst, and Pioneer Valley Habitat for Humanity builds affordable homes in the area for families earning 30-60% AMI. At the state level, MassHousing Down Payment Assistance provides up to $30,000 at 0% interest for buyers under 60% AMI, and the ONE Mortgage Program offers 30-year fixed-rate financing with just 3% down and no PMI. The MAHA STASH First-Gen Home Program provides grants up to $20,000 for first-generation homebuyers. By combining local, state, and nonprofit programs, eligible Amherst buyers could access over $54,000 in combined assistance.
Top Homebuyer Programs in Amherst
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| MAHA STASH First-Gen Home Program | Grant | Up to $10,000 grant in Boston; up to $20,000 in other Massachusetts cities | Yes | View → |
| Pioneer Valley Habitat for Humanity Homeownership Program | Zero-Interest Loan | Affordable mortgage with payments not exceeding 30% of monthly income | Yes | View → |
| Valley CDC First-Time Homebuyer Grant (Amherst) | Grant | Up to $4,500 | Yes | View → |
| MassDREAMS Down Payment Assistance Grant | Grant | Up to $50,000 for buyers earning up to 100% AMI; up to $35,000 for buyers earning 100-135% AMI | Yes | View → |
| MassHousing Down Payment Assistance | Deferred Loan | Up to $30,000 (below 60% AMI at 0% deferred); up to $25,000 (60-80% AMI at 2%); up to $25,000 (80-135% AMI at 3%) | Yes | View → |
| ONE Mortgage Program | Zero-Interest Loan | 30-year fixed-rate mortgage with 3% down payment and no PMI; qualified borrowers below 80% AMI receive an additional subsidy to lower monthly payments | Yes | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Grant
- Amount:
- Up to $10,000 grant in Boston; up to $20,000 in other Massachusetts cities
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with payments not exceeding 30% of monthly income
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $4,500
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $50,000 for buyers earning up to 100% AMI; up to $35,000 for buyers earning 100-135% AMI
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $30,000 (below 60% AMI at 0% deferred); up to $25,000 (60-80% AMI at 2%); up to $25,000 (80-135% AMI at 3%)
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- 30-year fixed-rate mortgage with 3% down payment and no PMI; qualified borrowers below 80% AMI receive an additional subsidy to lower monthly payments
- First-time only:
- Yes
How to Apply
- Step 1:
Check your eligibility. MassHousing DPA income limits for Hampshire County are approximately $160,650 at the 100% AMI tier. The Valley CDC grant requires income restrictions and first-time buyer status.
- Step 2:
Complete homebuyer education. Contact Way Finders, the HUD-approved housing counseling agency serving Western Massachusetts, to enroll in a certified first-time homebuyer education course. Way Finders is CHAPA, HUD, and NeighborWorks certified and offers monthly classes both in-person and online.
- Step 3:
Contact Valley CDC for local assistance. Reach out to Donna at Valley Community Development Corporation at 413-586-5855 x18 or email dc@ValleyCDC.com to learn about the Amherst first-time homebuyer grant of up to $4,500 and check current availability.
- Step 4:
Get pre-approved for a mortgage. Work with a MassHousing or MHP participating lender to get pre-approved. Ask about the ONE Mortgage Program, which offers a 30-year fixed rate with 3% down and no PMI. UMassFive College Federal Credit Union is a local MassHousing participating lender.
- Step 5:
Apply for state down payment assistance. Through your participating lender, apply for MassHousing Down Payment Assistance, which offers up to $30,000 at 0% interest for buyers under 60% AMI, or up to $25,000 at 2-3% interest for higher income tiers.
- Step 6:
Explore additional assistance. Contact MAHA about the STASH First-Gen Home Program if you are a first-generation homebuyer, which offers grants up to $20,000. Also check with Pioneer Valley Habitat for Humanity if your income is between 30-60% AMI.
- Step 7:
Find a home in Amherst and submit your purchase offer. Your lender and housing counselor will help coordinate the timing of your assistance funds with your closing.