Grants will be given as a 2-to-1 match, meaning that eligible homebuyers must contribute $2,500 of their own money to receive the full $5,000, and they must also earn less than the area median income,
Demonstrators from Cancel the Rents Boston gathered in Nubian Square Saturday to call for the cancelation of rents and mortgage payments while the COVID-19 pandemic continues to threaten housing affordability.
Some Democrats, including Massachusetts Sen. Elizabeth Warren, have called on Biden to cancel $50,000 of federal student loan debt for borrowers. Biden is considering debt cancellation, according to Senate Minority Leader Chuck Schumer.
First-time home buyers may face some financial relief thanks to a new program from MassHousing. The program will benefit these buyers by financing a down payment of 3 percent of the price they purchased the house for, or $12,000, whichever is less. Borrowers will later have to pay back the cost of the down payment with a low-cost secondary mortgage requiring no cash up front.
