First-time buyer? Check out ONE Mortgage

ONE+Boston combines City of Boston funds with the affordable features of ONE Mortgage to increase the buying power for income-eligible, first-time Boston homebuyers purchasing a home within the City.

Multilingual Information about ONE+Boston

ONE+Boston will provide these benefits:

  • Heavily discounted, fixed, 30-year interest rates
  • Enhanced down-payment assistance through the City of Boston
  • No private mortgage insurance (PMI)
  • Additional financial assistance, for eligible buyers

To get a ONE+Boston mortgage you must:

  • Be a current resident* of the City of Boston and be purchasing within the City of Boston. You will be asked to provide a copy of your current lease OR current utility bill OR voter registration
  • Be a first-time homebuyer. This means that you have not owned a home at any point in the last three years.
  • Take a homebuyer class. This class will help you get ready for the home buying process.
  • Meet our down payment requirements. We require a 3% down payment to buy a condo, single-family home, or two-family home. At least 1.5% of the purchase price must be from your own savings. For a three-family property, we require a 5% down payment with at least 3% from your own savings. The City of Boston is providing enhanced down payment assistance as part of this program.
  • Have a total household income under our limits.

    Household SizeONE+Boston Income Limit
    • Have less than $75,000 in total household assets. This includes any checking accounts, savings accounts, stocks, or bonds. But it does not include most retirement (401k, 403b, 457, traditional IRA) and college savings accounts.
    • Meet our credit score limits. Your credit score must be at least 640 to buy a single-family or condo and at least 660 to buy a two/three family home. We also have options for people who don’t have any credit history.
    • Agree to live in the property as your primary residence. If you stop living in the property, you must refinance out of your ONE Mortgage.

    *The following non-residents will be granted Boston residency status for the purpose of eligibility:

    1. Any non-resident who is currently working in the City of Boston and who is purchasing or trying to purchase in Boston
    2. Any non-resident tenant that can document that they were displaced within the past two years from a residence in Boston (not including Boston residency as a college student) due to high rental cost

    Buying a two- or three-family property? You must complete a pre-purchase multi-family/landlord course or meet with an approved agency for a one-on-one counseling session.

      What are my next steps?

    1. Take a homebuyer education class
      Find a class near you.
    2. Contact a Participating ONE+Boston Lender
      They'll help you get pre-qualified for the ONE+Boston Mortgage. Find a ONE+Boston Lender.
    3. Buy your first home!
      If you have questions, call us toll free at 1-800-752-7131 or email us at