First-time buyer? Check out ONE Mortgage

Homeownership notes: Hub's First Home Program can work with ONE Mortgage

Posted on April 13, 2023

By Lisa Braxton

The Boston Housing Authority (BHA) has created new resources to help residents toward their goal of homeownership.

The BHA’s First Home Program provides eligible BHA residents with enhanced downpayment assistance of up to $75,000 for a home purchase within the City of Boston.

The assistance program can be used alongside other assistance programs such as MassDREAMS, STASH and other first-time homebuyer programs, like MHP’s ONE Mortgage and ONE+Boston programs.

Click here to find out more about how MHP'S ONE Mortgage can BHA and public housing residents achieve homeownership.

Close to 100 foreclosures postponed due to HAF

MHP administers the state’s Homeowner Assistance Fund (Mass HAF), which continues to provide aid to homeowners impacted by COVID-19 who are behind on their mortgage payments. Since its launch in December 2021, Mass HAF has provided $77 million in assistance to 3,569 households and paused 100 foreclosures.

Over 90 percent of those served are at or below 100 percent of the area median income.

Assistance up to $50,000 can be provided. The homeowner’s servicer (whoever they pay their mortgage to) may be able to help with a plan to help the homeowner get caught up on the remaining amount owed.

MassDreams delivers stability

The state MassDreams downpayment and closing cost assistance program continues to be available with MHP’s ONE Mortgage program or ONE plus Boston. Since September, 181 transactions have been funded in addition to 254 households conditionally approved. These household are now able to work with their mortgage lender to prequalify for a ONE Mortgage or ONE Plus loan with Mass Dreams. Funding is limited to first-time homebuyers.

ONE+Boston continues to reach prospective homeowners

MHP’s partnership with the City of Boston to offer an enhanced version of ONE Mortgage continues to help more first-time homebuyers purchase a home. Since the program’s inception in 2021, 302 ONE+ Boston loans have been closed.

ONE+Boston combines the low-cost features of the statewide ONE Mortgage program with city funds. With these funds, ONE+Boston is able to offer heavily discounted 30-year-fixed interest rates and increased down payment assistance. Thirteen lenders offer the product with more expressing interest on a regular basis.

In spite of historically low housing inventory in the state and stubborn interest rates refusing to drop below 6 percent, first-time homebuyers continue to buy through these programs.

(Lisa Braxton is MHP's Communications Manager. She can be reached at