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Mortgage Down Payment Assistance Options

Buying a home may be one of the largest and most important purchases many of us will ever make. It can also be daunting and costly. At Dedham Savings, we have many resources to assist with down payment and closing costs. Many of these programs are offered on a first-come, first-served basis, so we urge those in need of assistance to contact us as soon as possible while funds remain available.

City of Boston Loans

For income-eligible homebuyers looking for a primary residence in Boston, this loan from the City of Boston’s Department of Neighborhood Development may offer financial help. Following the completion of a special Homebuying 101 class, borrowers can get up to $30,000 for a condo or 1-family, $35,000 for a 2-family, and $40,000 for a 3-family toward down payment and closing costs.

Equity Builder Program (EBP)

Offered through the Federal Home Loan Bank (FHLB) Boston, the Equity Builder Program offers grants to help buyers who are earning up to 80% of the area median income with down payment and/or closing costs. EBP can help make home ownership a reality for local families.

Housing Our Workforce (HOW)

Also offered through the FHLB, this grant supports borrowers who are essential to the long-term vitality of our local communities to purchase a home in the community where they work. HOW provides income-eligible homebuyers with one-to-one matching grants for down payment.


Income-eligible Massachusetts buyers may qualify for down payment assistance of 5% of the home’s purchase price – up to $25,000 in Boston and the Gateway Cities, or up to $15,000 in other MA communities. Gateway Cities include Attleboro, Barnstable, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Revere, Salem, Springfield, Taunton, Westfield, and Worcester.

Dedham Savings Program

For income-eligible first-time homebuyers purchasing a 1- or 2-family home or condo that will be used as a primary residence, and the home is located in one of the markets served by the Bank, Dedham Savings may be able to assist with down payment costs.

All programs are offered on a first-come, first-served basis, while funds remain available. Individual program restrictions and income limits apply, and all loans are subject to credit approval. To learn more, visit or contact Robert Madden, Vice President & CRA Loan Officer, at 617-877-2710.

Member FDIC. Member DIF. Equal Housing Lender. All loans subject to credit approval. Program restrictions apply. Bank NMLS #473990

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