Somerville Affordable Housing Trust Fund Homebuyer Assistance

Administered by: Somerville Affordable Housing Trust Fund · City · Deferred Loan

Funding status: Active

How much assistance

Closing cost and down payment assistance (amount varies based on available funding) (Deferred Loan)

Eligibility

  • Income limits: First-time homebuyers with incomes up to 110% AMI
  • First-time buyer required: Yes — Must be a first-time homebuyer.
  • Geographic restrictions: Must purchase a home within the City of Somerville.
  • Homebuyer education required: Yes

How to Apply for Somerville Affordable Housing Trust Fund Homebuyer Assistance

Step 1: Verify your income is at or below 110% AMI for your household size.

Step 2: Complete an approved first-time homebuyer education course.

Step 3: Contact the Somerville Affordable Housing Trust Fund for current application details and available funding.

Step 4: Submit your application with required documentation.

Visit program website

Notes

Funded through Community Preservation Act (CPA) funds allocated to the Somerville Affordable Housing Trust Fund. The Trust also launched a Homeownership Stabilization Program Pilot providing financial assistance to income-eligible first-time homebuyers who experience unanticipated increases in monthly housing payments.

Cities Where This Program Is Available