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Get Matched Free →North Suburban Consortium Down Payment Assistance
Funding status: Active
How much assistance
Up to $10,000 for non-subsidized properties; up to $5,000 for NSC HOME-subsidized properties
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.
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