First-Home Q&A · 1 of 13
The first episode in this series was written in July 2026, with an expanded round of MassHousing’s interest-free down payment assistance about to close. That round has passed. What it taught has not: a program with a deadline is only reachable if you count back from pre-approval.
What the MassHousing assistance is
MassHousing, the state housing agency, offers first-time buyers zero-interest help toward the down payment and closing costs. The summer 2026 round was temporarily expanded to as much as $25,000 and closed on July 31 by mortgage lock date.
No monthly interest is the point. Coming up with 5 to 20 percent of a purchase price in one sum is the biggest wall in a first purchase, and a program like this lowers that wall by the amount of the grant. Eligibility turns on being a first-time buyer (no ownership in the last three years) and on household income limits by family size.
Amounts and terms change with each round. For current terms see Massachusetts first-time buyer programs and MassHousing itself.
Why the problem is pre-approval, not the deadline
A first purchase runs in this order:
pre-approval → touring → offer → inspection → loan commitment → closing
From pre-approval to closing typically takes 30 to 45 days. For any program with a deadline, subtract that from the cutoff. Past that date, however much you like a house, this round is gone. In summer 2026 this was written five weeks before the cutoff, and buyers who did not start then really did end up waiting for the next round.
Pre-approval is a step you can take early
Pre-approval is the lender checking income and credit and stating how much you can actually borrow. Doing it before you choose a property is normal, and you can have it before you have decided whether to buy at all.
Program eligibility comes first, then pre-approval. If you do not qualify there is no reason to rush; if you do, pre-approval is the starting line.
What to actually do
- Check the deadline and eligibility of any program you are counting on.
- Subtract 45 days from the deadline and start pre-approval no later than that date.
- Get pre-approved even without a house picked. It is what lets you move when the right one appears.
I check eligibility and connect clients with lenders in Korean and in English. Send a request.
Questions
Common questions
What is MassHousing's interest-free down payment assistance?
Zero-interest help toward the down payment and closing costs for first-time buyers, from MassHousing, the Massachusetts state housing agency. The summer 2026 round was temporarily expanded to as much as $25,000 and closed on July 31 by mortgage lock date. Amounts and terms change from round to round, so check the current terms with MassHousing directly.
Can I get pre-approved before I have picked a house?
Yes. Pre-approval is the lender verifying your income and credit and telling you how much you can actually borrow, and doing it before you choose a property is the normal order. You can have it in hand before you have even decided whether to buy.
Sources
Written by Diana Yeji Kim — REALTOR® at eXp Realty, serving Greater Boston in English, Korean, and Japanese.
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