See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 4, 2026
Homebuyer Programs in Beverly, MA (2026)
Beverly is a coastal city on the North Shore of Massachusetts in Essex County, known for its beaches, historic neighborhoods, and strong community character. With a median home price around $700,000, buying in Beverly requires careful financial planning, but several assistance programs can help bridge the gap. MassHousing offers up to $30,000 in down payment assistance for first-time buyers, and the ONE Mortgage Program provides affordable 30-year fixed-rate loans with just 3% down and no PMI. The North Shore HOME Consortium offers up to $5,000 in forgivable down payment assistance for income-eligible buyers purchasing in Beverly. First-generation buyers may also qualify for up to $20,000 through the MAHA STASH First-Gen Home Program. Harborlight Homes, a community development corporation based in Beverly, offers homebuyer education and counseling to help residents navigate the purchase process. By combining state and local resources, Beverly homebuyers can access meaningful assistance toward their purchase.
County Programs in Essex County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| North Shore HOME Consortium Down Payment Assistance | Forgivable Loan | Up to $5,000 | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $5,000
- First-time only:
- Yes
State Programs in Massachusetts
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| 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:
- 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
Federal Programs
| 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 → |
| 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 → |
- 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:
- 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
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Essex County Habitat for Humanity Homeownership Program | Zero-Interest Loan | Affordable 30-year mortgage with no traditional down payment required; sweat equity replaces down payment | Yes | 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 → |
- Type:
- Zero-Interest Loan
- Amount:
- Affordable 30-year mortgage with no traditional down payment required; sweat equity replaces down payment
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $10,000 grant in Boston; up to $20,000 in other Massachusetts cities
- First-time only:
- Yes
How to Apply
Step 1: Check your eligibility. Most programs require household income at or below 80% of Area Median Income. For the Boston-Cambridge-Newton metro area (which includes Beverly in Essex County), review income limits for each program you plan to apply for. The North Shore HOME Consortium DPA requires income below 80% AMI.
Step 2: Complete a homebuyer education course. This is required for MassHousing DPA, the North Shore HOME Consortium, and most other programs. Harborlight Homes in Beverly offers HUD-approved first-time homebuyer courses in partnership with North Shore REALTORS. Contact them at 978-922-1305 at 283 Elliott Street, Beverly.
Step 3: Apply for MassHousing Down Payment Assistance. MassHousing provides up to $30,000 for buyers below 60% AMI (at 0% deferred interest) or up to $25,000 for those earning 60-135% AMI. Contact MassHousing at 888-843-6432 or work with a MassHousing-approved lender.
Step 4: Apply for North Shore HOME Consortium DPA. Beverly is one of 30 member communities in the consortium. Income-eligible first-time buyers can receive up to $5,000 as a 0% interest forgivable loan. Contact the Beverly Planning Department or Harborlight Homes for application details.
Step 5: Get pre-approved for your mortgage. Work with a participating lender for the ONE Mortgage Program (3% down, no PMI) or a MassHousing first mortgage. Your lender can help determine the best combination of programs for your situation.
Step 6: Find a home and submit your applications. Once you have an accepted offer, finalize your DPA applications. Plan for a closing timeline of 45-60 days to allow for program processing.
Frequently Asked Questions
How much down payment assistance can I get in Beverly?+−
Do I have to be a first-time homebuyer to qualify?+−
What is the North Shore HOME Consortium DPA?+−
What homebuyer education is required?+−
Is Beverly eligible for MassDREAMS?+−
Can I use Habitat for Humanity in Beverly?+−
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