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Get Matched Free →Homebuyer Programs in Holyoke, MA (2026)
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.
Top Homebuyer Programs in Holyoke
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Holyoke Borrower's Assistance Program (BAP) | Grant | Up to $4,999 | Yes | View → |
| 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 → |
| 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 → |
| 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 $4,999
- First-time only:
- Yes
- 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:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with low interest rate; homes sold at no profit
- First-time only:
- No
- Type:
- 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:
- Income-restricted homes sold below market value (recent units priced at $225,000)
- 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. 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.