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Get Matched Free →City of Chelsea First-Time Homebuyer Down Payment Assistance
Funding status: Active
How much assistance
Up to $10,000
Zero percent interest deferred payment loan with a 5-year term and no monthly payments. If the recipient continues to own and reside in the property for 5 years from the date of purchase, the loan is fully forgiven and becomes a grant.
Eligibility
- Income limits: At or below 80% of Area Median Income
- First-time buyer required: Yes — Must not have owned a home in the past 3 years.
- Geographic restrictions: Must purchase a condominium or single-family residence within the City of Chelsea for use as a primary residence.
- Homebuyer education required: Yes
How to Apply for City of Chelsea First-Time Homebuyer Down Payment Assistance
Complete a HUD-approved homebuyer education course through Chelsea Restoration Corporation or another approved provider, get pre-approved for a mortgage, then contact the City of Chelsea Department of Housing and Community Development at 617-466-4192 or bcares@chelseama.gov to apply.
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