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A mortgage pre-approval or pre-qualification is required to be submitted with the application.

Do I need to attend homebuyer education classes?

All financing programs offered by MassHousing  and MassHousing Partnership  and/or your lender may require the borrower to complete a pre-homebuyer education course.  A schedule of upcoming first-time homebuyer workshops is also posted on  CHAPA’s website

What type of loan do I need?

  • Mortgage amount cannot exceed 97% of the purchase price.
  • Mortgage loan must be 30-fixed rate.
  • The loan has a current fair market interest rate of no more than 2 percentage points above the current Mass Housing rate.
  • The Buyer may pay no more than 2 points
  • Some exceptions may apply
  • FHA and VA do not typically accept the deed rider
  • USDA Financing on Condo Projects may not be available

How do I apply for a mortgage?

We strongly recommend that applicants apply for a mortgage with banks that are familiar with the Deed Rider and guidelines for affordable housing programs.

There are many lenders and mortgage brokers that are familiar with the qualifying process to purchase the affordable homes.  Please contact us for a list of lenders that some of our other applicants have used.  In addition, there are other lenders and mortgage brokers who may participate in this process.  Your lender must be a conventional lender.

There are many programs available for First Time Home Buyers including those offered by MassHousing. We suggest you or your lender refer to the MassHousing website.

There are programs being offered by the MassHousing Partnership (MHP) such as the MHP One Mortgage Program which is offered to buyers typically at a rate of 1% less than a lenders typical best rate to a conventional buyer.  

Click here to view our lenders list

Down Payment

Down payment must be 3% of the purchase price of which 1.5% must come from the buyers own funds.

How much money do I need?

Households should demonstrate availability of sufficient funds for a down payment, closing costs and pre-paid items. Applicants should inquire with their lender as to what closing costs will be.  Closing costs can include but may not be limited to fees for Loan Origination, Appraisal, Credit Reports, Inspection, Document Preparation, Attorney and Title Insurance.  Pre-Paid items can include interest that accrues from the date of settlement to the first monthly payment.  Pre-Paid items can also include insurances such as Hazard, Flood, and Mortgage Insurance.

For down payment and closing costs assistance programs, please refer to


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