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Get Matched Free →Homebuyer Programs in Lynn, MA (2026)
Lynn is a diverse coastal city in Essex County on Massachusetts' North Shore, about 10 miles northeast of Boston. With a median home price around $510,000, Lynn offers a more affordable entry point than neighboring Boston while still providing easy access to the city. The LHAND Down Payment Assistance Program provides up to $10,000 for first-time buyers purchasing in Lynn. As a Gateway City, Lynn residents also benefit from MassHousing Down Payment Assistance of up to $30,000 for buyers below 60% AMI, and the ONE Mortgage Program offers 30-year fixed-rate loans with just 3% down and no PMI. First-generation homebuyers may also qualify for the MAHA STASH First-Gen Home Program, which provides grants of up to $20,000. By combining local, state, and federal programs, Lynn homebuyers can potentially access over $50,000 in total assistance.
Top Homebuyer Programs in Lynn
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| LHAND Down Payment Assistance Program | Grant | Up to $10,000 | 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 → |
| 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:
- Grant
- Amount:
- Up to $10,000
- 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:
- 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 first-time buyer status, meaning you have not owned a home in the past three years. As a Gateway City, Lynn qualifies for enhanced MassHousing benefits with income limits up to 135% AMI, or approximately $205,335 for Essex County.
- Step 2:
Complete homebuyer education. Enroll in LHAND's first-time homebuyer class, which is certified by CHAPA (Massachusetts Homeownership Collaborative). Contact LHAND at 781-581-8621 or email homebuyerclass@lhand.org to register. The class fee is $50 per individual or $75 per couple. Graduates qualify for city and state DPA programs including the ONE Mortgage.
- Step 3:
Apply for LHAND Down Payment Assistance. After completing the homebuyer class, apply for LHAND's $10,000 down payment assistance program. Spots are filled on a first-come, first-served basis, so apply early. Contact LHAND Housing Stabilization at (339) 883-2342 or email fsc@lhand.org.
- Step 4:
Explore state programs through MassHousing. Connect with a MassHousing-approved lender to apply for MassHousing Down Payment Assistance (up to $30,000 for buyers below 60% AMI) or the ONE Mortgage Program. Visit masshousing.com for a lender list.
- Step 5:
Check if you qualify for the MAHA STASH program. If you are a first-generation homebuyer (neither you nor your parents have owned a home in the U.S.), the MAHA STASH First-Gen Home Program offers grants up to $20,000 for purchases outside Boston. Visit mahahome.org/stash for details.
- Step 6:
Get pre-approved for a mortgage. Work with your lender to determine your buying power and confirm which assistance programs you qualify for.
- Step 7:
Find a home and submit your applications. Once you have a signed purchase and sales agreement, submit your DPA applications. Processing times vary, so plan ahead and stay in close contact with LHAND and your lender.