See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 5, 2026
Homebuyer Programs in Melrose, MA (2026)
Melrose is a compact, walkable city in Middlesex County just seven miles north of downtown Boston, known for its tree-lined streets and strong school system. With a median home price around $920,000, buying here is a significant investment, but several assistance programs can help. The North Suburban Consortium offers up to $10,000 in forgivable down payment assistance for income-qualified first-time buyers purchasing in Melrose. State programs through MassHousing provide up to $30,000 in additional help, and the MAHA STASH program offers up to $20,000 in matched-savings grants for first-generation buyers. By stacking local, state, and federal programs, eligible Melrose homebuyers could access over $50,000 in combined assistance.
City Programs in Melrose
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| North Suburban Consortium Down Payment Assistance | Forgivable Loan | Up to $10,000 for non-subsidized properties; up to $5,000 for NSC HOME-subsidized properties | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $10,000 for non-subsidized properties; up to $5,000 for NSC HOME-subsidized properties
- 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 |
|---|---|---|---|---|
| FHLBank Boston Lift Up Homeownership | Grant | Up to $40,000 grant | Yes | View → |
| Habitat for Humanity Greater Boston Homeownership Program | Zero-Interest Loan | Affordable mortgage with monthly housing costs capped at 30% of gross monthly income | 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 → |
- Type:
- Grant
- Amount:
- Up to $40,000 grant
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with monthly housing costs capped at 30% of gross monthly income
- 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
How to Apply
Step 1: Check your eligibility. Most programs require household income at or below 80% of Area Median Income (AMI) and first-time homebuyer status, meaning you have not owned a home in the past three years.
Step 2: Complete homebuyer education. Community Teamwork, Inc. offers HUD-certified first-time homebuyer workshops covering budgeting, mortgage options, and the closing process. Classes cost $75 per household and are available in English, Spanish, and Khmer.
Step 3: Contact the City of Melrose Affordable Housing office. Reach Maya Noviski at 781-979-4196 or mnoviski@cityofmelrose.org to learn about the North Suburban Consortium Down Payment Assistance program and current funding availability.
Step 4: Get pre-approved for a mortgage. Work with a MassHousing-approved lender to determine your borrowing power and whether you qualify for MassHousing DPA of up to $30,000. Metro Credit Union in Melrose also participates in several DPA programs.
Step 5: Find a home within program limits. The North Suburban Consortium sets a purchase price limit of $858,000 for existing or new single-family homes in Middlesex County.
Step 6: Submit your applications and close. Your lender and housing counselor will coordinate the DPA funds to be applied at closing. The NSC loan is forgiven at 20% per year over five years of owner-occupancy.
Frequently Asked Questions
How much down payment assistance can I get in Melrose?+−
Do I have to be a first-time homebuyer to qualify?+−
What is the maximum home price I can pay?+−
What homebuyer education is required?+−
Is the North Suburban Consortium DPA a grant or a loan?+−
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