North Suburban Consortium Down Payment Assistance
How much assistance
Up to $10,000 for non-subsidized properties; up to $5,000 for NSC HOME-subsidized properties (Forgivable Loan)
0% interest, 5-year deferred loan. Each anniversary date, 20% of the original DPA is forgiven. Fully forgiven after 5 years. If owner refinances, sells, transfers, or no longer resides in the property before end of term, prorated repayment is required.
Eligibility
- Income limits: Household income at or below 80% AMI (includes income from all household members 18 and older)
- First-time buyer required: Yes — Must not have owned a home in the past 3 years, or must be a displaced homemaker or single parent who only owned with a former spouse while married.
- Geographic restrictions: Must purchase a condominium, townhome, or single-family property in one of the eight NSC communities including Malden.
- Homebuyer education required: Yes
How to Apply for North Suburban Consortium Down Payment Assistance
Step 1: Attend and complete a first-time homebuyer counseling workshop from a HUD-certified agency.
Step 2: Verify your income is at or below 80% AMI.
Step 3: Contact Safi Chalfin-Smith at 781-324-5720 x5730 or schalfinsmith@cityofmalden.org for Malden applications.
Step 4: Submit application with required documentation.
Notes
The NSC is a group of eight cities that collectively apply for and administer HOME funds. Purchase price limit for Malden (Middlesex County): $858,000 for 1-unit property (effective December 1, 2025). Malden is a Gateway City. Property must be owner-occupied as primary residence.