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Get Matched Free →Homebuyer Programs in Dracut, MA (2026)
Dracut is a residential town in the Merrimack Valley region of Middlesex County, Massachusetts, bordering Lowell, with a population of about 33,000 residents. With a median home price around $535,000, Dracut offers relatively affordable entry into the Greater Lowell housing market. While the town does not currently offer its own municipal down payment assistance, buyers here can tap into generous state and federal programs. The MassDREAMS program provides grants of up to $50,000, MassHousing offers up to $30,000 in down payment assistance, and the ONE Mortgage program delivers a 30-year fixed-rate loan with just 3% down and no PMI. The FHLBank Boston Lift Up Homeownership program adds up to $40,000 in grants for first-generation buyers, and the MAHA STASH program offers up to $20,000 in grant assistance. By combining these programs, eligible Dracut buyers can potentially access over $70,000 in total assistance.
Top Homebuyer Programs in Dracut
| 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 → |
| FHLBank Boston Lift Up Homeownership | Grant | Up to $40,000 grant | 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 → |
| 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 $40,000 grant
- 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
- 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. Most programs require household income at or below 80% to 135% of the Area Median Income for Middlesex County. MassDREAMS serves buyers up to 135% AMI, while the FHLBank Boston Lift Up program targets households up to 120% AMI.
- Step 2:
Complete homebuyer education. Contact the Merrimack Valley Housing Partnership at (978) 459-8490 to enroll in a HUD-approved first-time homebuyer education course (Project Genesis). Classes are offered monthly in English, Spanish, and Khmer and consist of 9 hours of instruction over three evening sessions.
- Step 3:
Get pre-approved for a mortgage. Connect with a MassHousing-approved lender or a ONE Mortgage participating lender to explore affordable loan options. Ask about stacking MassHousing DPA (up to $30,000) or MassDREAMS grants (up to $50,000) with other available assistance.
- Step 4:
Ask your lender about FHLBank Boston Lift Up Homeownership. If you are a first-generation homebuyer earning up to 120% AMI, you may qualify for up to $40,000 in grant assistance through a participating FHLBank Boston member bank. The grant is forgivable after five years.
- Step 5:
Explore the MAHA STASH program. First-generation buyers who complete homebuyer education and financial coaching through the Massachusetts Affordable Housing Alliance may qualify for up to $20,000 in grant assistance.
- Step 6:
Find a home within program limits. Work with your lender and housing counselor to identify properties in Dracut that meet program requirements for your primary residence.
- Step 7:
Submit your applications. Apply for all programs you qualify for simultaneously. Processing times vary, so start early and keep in close contact with your lender and the Merrimack Valley Housing Partnership.