First-Time Home Buyer Assistance Programs in New Bedford & Massachusetts

Buying your first home in New Bedford is exciting—but it can also feel overwhelming. From down payments to closing costs, the process is full of moving pieces. The good news? There are programs designed to help first-time buyers make homeownership more attainable.

Today, we’re focusing on two powerful options: MassHousing Down Payment Assistance and New Bedford’s Neighborhoods First Program. These programs can help, but each person’s financial situation is different, so it’s important to speak with a lender to get the most accurate guidance for your circumstances.

1. MassHousing Down Payment Assistance – Make Your Home Affordable

MassHousing’s program can provide up to $30,000 in down payment assistance, making it easier for first-time buyers to step into homeownership.

Why it matters:

• Funds can be used for single-family homes, condos, or 2-4 family properties.

• Repayment is often deferred and interest-free until you sell, refinance, or pay off your mortgage.

• Works alongside other mortgage programs, such as the ONE Mortgage program.

Important Note:

• Every buyer’s situation is different. Income, credit, and other factors determine eligibility and assistance amounts. A local lender can walk you through the exact numbers and program options that apply to you.

Action Steps:

1. Check eligibility and property requirements.

2. Complete a homebuyer education course.

3. Talk to a MassHousing-approved lender to confirm what assistance you qualify for.

4. Submit your application with guidance from your lender.

2. Neighborhoods First Program – Local Support for New Bedford Buyers

New Bedford’s Neighborhoods First Program provides up to $10,000 in down payment and closing cost assistance for income-eligible first-time buyers in the city. It’s designed to help buyers invest in the community while making homeownership attainable.

Why it matters:

• Supports purchases of 1- to 3-family homes in New Bedford.

• Helps with both down payments and closing costs, reducing financial stress.

• Encourages community growth through homeownership.

Important Note:

• Eligibility varies for each buyer. Income limits, household size, and other financial factors are taken into account. Connecting with a lender ensures you get personalized guidance.

Action Steps:

1. Verify income eligibility.

2. Attend a homebuyer seminar to understand the process.

3. Select a property that meets program requirements.

4. Work with a lender and submit your application to the Office of Housing & Community Development.

Final Thoughts

Programs like MassHousing Down Payment Assistance and New Bedford’s Neighborhoods First Program can make first-time homeownership more achievable—but they’re not one-size-fits-all. Your financial situation is unique, so it’s critical to talk with a lender to understand exactly what you qualify for.

If you want guidance through the process, reach out to me, Don Wagnon, your local New Bedford real estate expert. I can help connect you with trusted lenders, walk you through neighborhood options, and make sure you feel confident every step of the way.