See programs you qualify for

By Tyler Thompson · Licensed Real Estate Agent · Updated April 4, 2026

Homebuyer Programs in Holyoke, MA (2026)

Population: 38,139 | Median home price: $300,000 | Est. closing costs: $6,000 - $9,000

Holyoke is a city in Hampden County along the Connecticut River, about 90 miles west of Boston, with a population of roughly 38,000 and a median home price around $300,000. As one of Massachusetts' 29 designated Gateway Cities, Holyoke buyers have access to the MassDREAMS grant program offering up to $50,000 for buyers earning up to 100% AMI. The city also offers the Borrower's Assistance Program (BAP) through the Holyoke Housing Authority, providing up to $4,999 in down payment and closing cost assistance. MassHousing Down Payment Assistance adds 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. HAPHousing, OneHolyoke CDC, Greater Springfield Habitat for Humanity, and the MAHA STASH program provide additional nonprofit assistance. By combining Gateway City, local, state, and nonprofit programs, eligible Holyoke buyers could access over $100,000 in combined assistance.

City Programs in Holyoke

Program Name	Type	Amount	First-Time Only	Details
Holyoke Borrower's Assistance Program (BAP)	Grant	Up to $4,999	Yes	View →

Holyoke Borrower's Assistance Program (BAP)

Type:: Grant
Amount:: Up to $4,999
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 →

MassDREAMS Down Payment Assistance Grant

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

MassHousing Down Payment Assistance

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

ONE Mortgage Program

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 →

FHA Loans

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

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

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

HomeReady Mortgage (Fannie Mae)

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

HUD $100 Down Program

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

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

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
Greater Springfield Habitat for Humanity Homeownership Program	Zero-Interest Loan	Affordable mortgage with low interest rate; homes sold at no profit	No	View →
HAPHousing American Dream Down Payment Assistance	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 →
OneHolyoke CDC Affordable Homes Program	Grant	Income-restricted homes sold below market value (recent units priced at $225,000)	Yes	View →

Greater Springfield Habitat for Humanity Homeownership Program

Type:: Zero-Interest Loan
Amount:: Affordable mortgage with low interest rate; homes sold at no profit
First-time only:: No

HAPHousing American Dream Down Payment Assistance

Type:: Grant
First-time only:: Yes

MAHA STASH First-Gen Home Program

Type:: Grant
Amount:: Up to $10,000 grant in Boston; up to $20,000 in other Massachusetts cities
First-time only:: Yes

OneHolyoke CDC Affordable Homes Program

Type:: Grant
Amount:: Income-restricted homes sold below market value (recent units priced at $225,000)
First-time only:: Yes

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15 programs available in Holyoke. See which ones you qualify for.

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How to Apply

Step 1: Check your eligibility. As a Gateway City, Holyoke buyers can earn up to 135% AMI for MassHousing programs. The Borrower's Assistance Program requires income at or below 80% AMI and a purchase price at or below $271,000.

Step 2: Complete homebuyer education. The Holyoke Housing Authority and Way Finders offer first-time homebuyer education classes covering money management, mortgages, credit, and financial planning. Way Finders can be reached at their Springfield office and serves Holyoke directly.

Step 3: Apply for the Borrower's Assistance Program. Contact the Holyoke Housing Authority about the BAP program, which provides up to $4,999 in down payment and closing cost assistance for first-time buyers purchasing in Holyoke.

Step 4: Get pre-approved for a mortgage. Work with a MassHousing participating lender such as Holyoke Credit Union, which is an approved MassHousing lender. Ask about the ONE Mortgage Program for 3% down with no PMI.

Step 5: Apply for MassDREAMS. As a Gateway City resident, you may qualify for the MassDREAMS grant of up to $50,000 for buyers earning up to 100% AMI, or up to $35,000 for buyers earning 100-135% AMI. This must be paired with a MassHousing first mortgage.

Step 6: Apply for MassHousing Down Payment Assistance. Through your participating lender, apply for 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 7: Explore additional assistance. Contact HAPHousing at 413-233-1615 about their American Dream DPA program. Check OneHolyoke CDC for affordable homes available through their lottery system. Contact MAHA about the STASH First-Gen Home Program if you are a first-generation homebuyer.

Step 8: Find a home in Holyoke and submit your purchase offer. Your lender and housing counselor will help coordinate the timing of your multiple assistance funds with your closing.

Frequently Asked Questions

How much down payment assistance can I get in Holyoke?+

Holyoke buyers have access to an exceptional combination of programs. As a Gateway City, the MassDREAMS grant offers up to $50,000 for buyers earning up to 100% AMI. The Holyoke Borrower's Assistance Program adds up to $4,999. MassHousing DPA provides up to $30,000 at 0% interest for buyers under 60% AMI. HAPHousing offers additional DPA through their American Dream program. The MAHA STASH First-Gen Home Program provides grants up to $20,000 for first-generation homebuyers. Combined, eligible buyers could access over $100,000 in assistance.

Do I have to be a first-time homebuyer to qualify?+

Yes, all major programs available in Holyoke require first-time buyer status, which typically means you have not owned a home in the past three years. The BAP, MassDREAMS, MassHousing DPA, and ONE Mortgage all require first-time buyer status. Some exceptions may exist for veterans.

What is the maximum home price I can pay?+

The Holyoke Borrower's Assistance Program has a purchase price limit of $271,000, effective July 1, 2023. MassHousing programs have higher limits, approximately $838,717 for single-family homes. The median home price in Holyoke is around $300,000, which falls within MassHousing limits but slightly above the BAP limit.

What homebuyer education is required?+

All major programs require completion of a HUD-approved homebuyer education course. The Holyoke Housing Authority and Way Finders jointly offer first-time homebuyer education classes covering money management, securing a mortgage, avoiding scams, understanding credit, and creating financial plans. Way Finders is CHAPA, HUD, and NeighborWorks certified.

What makes Holyoke special for homebuyers?+

Holyoke is one of 29 Massachusetts Gateway Cities, which means buyers here qualify for the MassDREAMS grant of up to $50,000, one of the largest homebuyer assistance programs in the state. Combined with the city's BAP program, MassHousing DPA, and nonprofit assistance from HAPHousing and OneHolyoke CDC, Holyoke offers more total assistance than most Massachusetts cities. The relatively affordable median home price of $300,000 also means assistance dollars go further here.

Can I buy an affordable home through OneHolyoke CDC?+

Yes. OneHolyoke CDC develops and sells income-restricted homes in Holyoke below market value. Recent offerings included duplexes priced at $225,000. Homes are sold through a lottery system to first-time buyers earning at or below 80% AMI. You must have mortgage pre-approval and complete a first-time homebuyer class. Buyers must use one unit as their primary residence for at least 10 years. Visit oneholyoke.org for current availability.

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