BOSTON (WWLP) – The Baker Administration announced a new launch of a new grant program to help residents in communities disproportionately impacted by the COVID-19 pandemic own a home.
The MassDreams Program will be offering up to $50,000 in federal funding to provide first-time homebuyers with a down payment, closing costs, prepaid mortgage insurance, and interest rate reductions.
“MassDREAMS will enhance ways the Commonwealth can help more working families achieve homeownership,” said Governor Charlie Baker. “This new program complements our ongoing efforts to leverage federal ARPA funds to address the racial homeownership gap in Massachusetts and creates additional opportunities for residents across the state.”
“The COVID-19 pandemic demonstrated the importance of safe and affordable housing to individuals’ health and economic security,” said Lieutenant Governor Karyn Polito. “Through this new program, we are putting federal recovery funds to work helping residents of disproportionately impacted communities build a better future.”
“Massachusetts is leading the way nationally in directing ARPA funding to address longstanding housing needs,” said Housing and Economic Development Secretary Mike Kennealy. “From expanding homeownership opportunities to strengthening our public housing stock to constructing new units for families, seniors, and veterans, we are using these federal recovery funds to build a stronger Commonwealth.”
“Sustainable homeownership helps lift up families and build strong neighborhoods,” said MassHousing Executive Director Chrystal Kornegay. “The MassDREAMS program will accelerate our work to address housing inequality, boosting homeownership in disproportionately impacted communities and building generational wealth.”
“The MassDREAMS program is a major step forward for the Commonwealth,” said MHP Executive Director Clark Ziegler. “It’s providing relief to the people and neighborhoods hardest hit by COVID where historic barriers to homeownership have fueled racial inequity and intergenerational disparities.”
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