Easton MA Offering First Time Homebuyer Assistance

Easton MA Offering First Time Homebuyer Assistance

The Town of Easton Affordable Housing Trust has announced a grant program to provide financial assistance to qualified first time home buyers.

With some exceptions, applicants for the grant program must be first time home buyers (with a few exceptions) and must meet the following income limitations:

The grants are intended to offset the purchase price, so that the buyer can take out a lower, more affordable mortgage. In return for this assistance, an Affordability Rider will be attached to the deed, so that the house remains as affordable housing. This program can be used in conjunction with other low-downpayment loan programs like MassHousing or FHA.

The amount of the grant varies, depending on the size of the home. The grant will be the greater of maximum of 10% of the sale price or the difference between the actual sale price and the affordable sale price, as determined by the Department of Housing and Community Development.

Preference is given to those with a connection to Easton MA - current residents, parents of children already registered in the Easton Schools and those who work in Easton. Obviously, the property must be located in Easton. There are various other restrictions and requirements that can be found by going to The Easton Homebuyer Assistance Program.

Some important dates to mark down:

November 30, 6:00 pm: Information session at Frothingham Hall, 15 Barrows Street, Easton, MA

December 29, 4:30 pm: Deadline to submit the grant application.

January 17, 6:00 pm: Participants selected by lottery.

This is a great opportunity for buyers looking to buy a home in Easton MA who meet the eligibility guidelines. But make sure you do your homework so you understand the process.

The Easton Affordable Housing Trust recommends that buyers have their own representation to help through the buying and grant process. Furthermore, buyers must be preapproved PRIOR to applying for the grant. If you need a referral to a lender or would like the assistance of an exclusive buyer agent and attorney, I would be happy to help.