See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 4, 2026
Homebuyer Programs in New Bedford, MA (2026)
New Bedford is a historic coastal city in Bristol County on Massachusetts' South Coast, known for its fishing industry and revitalizing downtown. With a median home price around $445,000, New Bedford is one of the more affordable markets in eastern Massachusetts. The city offers strong local assistance through its Enhanced First-Time Homebuyer Program, which provides grants of up to $25,000 (or $35,000 for city employees) with no repayment required if you stay 5 years. The Neighborhoods First program adds another layer with up to $10,000 in down payment help plus up to $40,000 for home rehabilitation. At the state level, MassHousing provides up to $30,000 in down payment assistance 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 buyers may also qualify for the MAHA STASH program, which provides grants up to $20,000. By stacking these programs, New Bedford homebuyers can potentially access over $75,000 in combined assistance.
City Programs in New Bedford
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| New Bedford Enhanced First-Time Homebuyer Program | Grant | Up to $25,000; City employees (City, School, Police, Fire departments) eligible for additional $10,000 for up to $35,000 total | Yes | View → |
| New Bedford Neighborhoods First Homebuyer Program | Deferred Loan | 5% of purchase price up to $10,000 for down payment and closing costs; up to $40,000 in rehabilitation assistance | Yes | View → |
- Type:
- Grant
- Amount:
- Up to $25,000; City employees (City, School, Police, Fire departments) eligible for additional $10,000 for up to $35,000 total
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- 5% of purchase price up to $10,000 for down payment and closing costs; up to $40,000 in rehabilitation assistance
- 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 |
|---|---|---|---|---|
| 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 $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. The Enhanced First-Time Homebuyer Program requires household income at or below 120% AMI and current New Bedford residency. The Neighborhoods First program has a stricter limit of 80% AMI. Both require first-time buyer status.
Step 2: Complete homebuyer education. Enroll in a CHAPA-approved homebuyer education seminar. The Fall River/New Bedford Housing Partnership offers HUD and CHAPA-approved 8-hour courses. Contact them at their website frnbhp.com for upcoming class dates. Catholic Social Services also offers seminars in Portuguese at 508-674-4681.
Step 3: Apply for the Enhanced First-Time Homebuyer Program. Contact Alexandra Vasconcelos, Affordable Housing Specialist, at 508-979-1500 or Alexandra.Vasconcelos@newbedford-ma.gov. This ARPA-funded grant provides up to $25,000 (up to $35,000 for city employees) with no repayment if you occupy the home for 5 years.
Step 4: Apply for the Neighborhoods First program. Contact the Office of Housing and Community Development at 508-979-1500. This HOME-funded program provides 5% of the purchase price (up to $10,000) for down payment and closing costs. You must contribute at least $1,000 from your own funds.
Step 5: 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. New Bedford Credit Union is a participating ONE Mortgage lender.
Step 6: Check if you qualify for the MAHA STASH program. If you are a first-generation homebuyer, the MAHA STASH First-Gen Home Program offers grants up to $20,000 for purchases outside Boston. Visit mahahome.org/stash for details.
Step 7: Get pre-approved and find a home. Work with your lender to confirm which programs you qualify for. Once you have a signed purchase and sales agreement, submit your DPA applications promptly.
Frequently Asked Questions
How much down payment assistance can I get in New Bedford?+−
Do I have to be a first-time homebuyer to qualify?+−
Do I have to be a current New Bedford resident?+−
What homebuyer education is required?+−
What are the income limits for New Bedford homebuyer programs?+−
Is the Enhanced First-Time Homebuyer Program a grant or a loan?+−
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