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The MassDREAMS Program provides down payment and closing cost grants
for eligible first-time homebuyers in Massachusetts

Dedham Savings is participating in the MassDREAMS program, according to an announcement by Tracy Harvard,  Senior Vice President for Residential Lending.

Stated Harvard, “Dedham Savings has a long list of down payment and closing cost assistance programs for homebuyers, and MassDREAMS is an important new option we now offer. We’re making every effort to make home ownership possible in a very challenging market.”

About The MassDREAMS Program

MassDREAMS is made possible by federal funding from the American Rescue Plan Act of 2021, which provides assistance to states to mitigate the economic effects of the COVID-19 pandemic. MassDREAMS is a Massachusetts program that provides down payment and closing cost grants to buyers who:

  • Are first-time homebuyers
  • Are purchasing a property using a first mortgage loan from MassHousing or Massachusetts Housing Partnership (MHP)
  • Currently live in one of the 29 Disproportionately Impacted Communities in Massachusetts
  • Meet the program’s income and eligibility criteria
  • Are buying a single-family home, condo, or 2-, 3-, or 4-family home which will serve as the primary residence.

Disproportionately Impacted Communities include: Attleboro, Barnstable, Boston, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Framingham, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Randolph, Revere, Salem, Springfield, Taunton, Westfield and Worcester.

Interested buyers should contact the Dedham Savings Mortgage Team to learn if they qualify and to take next steps.

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