See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 5, 2026
Homebuyer Programs in Wellesley, MA (2026)
Wellesley is an affluent town of about 31,200 residents in Norfolk County, Massachusetts, located roughly 13 miles west of Boston and known for its top-rated schools and Wellesley College. With a median home price around $1,970,000, it is one of the most expensive housing markets in the state. While Wellesley does not offer town-funded down payment assistance, state programs are still available to income-eligible buyers. MassHousing provides up to $30,000 in down payment assistance, and the ONE Mortgage Program offers affordable 30-year fixed-rate mortgages with just 3% down and no PMI. The MAHA STASH program provides up to $20,000 in grants for first-generation homebuyers. Given the high price point, buyers should explore all available programs and work with a lender experienced in combining assistance sources.
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. Most programs require household income at or below 80-135% of the area median income. For Norfolk County, MassHousing's income limit is approximately $205,335. Given Wellesley's high home prices, verify that your target property falls within program purchase price limits.
Step 2: Complete homebuyer education. Massachusetts requires a HUD-approved homebuyer education course for most assistance programs. MetroWest Collaborative Development serves the Wellesley area and provides housing information and referrals for homebuyers. You can find more details at metrowestcd.org.
Step 3: Contact a housing counselor. MetroWest Collaborative Development can help connect you with homebuyer counseling resources and navigate available programs in the MetroWest area.
Step 4: Get pre-approved for a mortgage. Work with a MassHousing-approved lender or a ONE Mortgage participating lender. Given Wellesley's price point, ask about jumbo loan programs and whether state DPA can be layered with conventional financing. Call MassHousing at 888-843-6432 for guidance.
Step 5: Find a home within program limits. If using state assistance programs, confirm that the property's price falls within MassHousing or ONE Mortgage purchase price limits for Norfolk County.
Step 6: Submit your assistance applications. Once you have a signed purchase and sales agreement, submit your DPA applications through your lender. Processing typically takes 2-4 weeks.
Frequently Asked Questions
How much down payment assistance can I get in Wellesley?+−
Do I have to be a first-time homebuyer to qualify?+−
Does Wellesley have its own town-funded down payment assistance?+−
Are state assistance programs practical given Wellesley's home prices?+−
What homebuyer education is required?+−
Am I eligible for the MassDREAMS grant in Wellesley?+−
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