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The Independent Student Newspaper at Boston University

The Daily Free Press

The Independent Student Newspaper at Boston University.

The Daily Free Press

The Daily Free Press

A row of houses in Allston. A new program was created by MassHousing that will cover down payments for first-time buyers. PHOTO BY KATIE GODERE/ DFP FILE PHOTO

First-time home buyers don’t have to put cash down through new program, yet

Camille Mojica March 21, 2018
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.
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William Wheaton