The Springfield, Massachusetts Down Payment & Closing Cost Assistance Program helps first-time buyers cover upfront costs with forgivable loans.
Verify Your Springfield Down Payment Assistance Eligibility
The City of Springfield, Massachusetts offers income-qualified, first-time homebuyers up to $7,500–$35,000 in financial help for down payment and closing costs.
The program makes homeownership more affordable by reducing the upfront cash needed to buy.
Funds come in the form of a 0% interest, deferred-payment loan that is gradually forgiven if you remain in the home as your primary residence.
Eligible buyers receive between $7,500 and $35,000 for down payment and closing costs.
Assistance is structured as a forgivable loan - Forgiven in equal portions over 5 years and Must be repaid only if you sell or move before year 5.
Buyers must contribute at least 1% of their own funds toward the purchase.
Homeownership education is required to ensure long-term success.
Significant financial support – Up to $35,000 toward buying your first home.
Forgivable loan – No payments, and forgiveness after 5 years of occupancy.
Lower upfront costs – Helps bridge the gap for first-time buyers.
Primary residence focus – Builds stable homeownership in Springfield.
Inclusive property types – 1 to 4 unit homes allowed, creating opportunities for owner-occupants.
To qualify, buyers must meet the following:
First-time homebuyer status.
Income limits – Household income cannot exceed annually adjusted maximums.
Contribute 1% of own funds toward the purchase.
Complete HUD-certified homebuyer education from an approved local provider.
Meet underwriting standards: Loan-to-value ratio ≤ 103% and Debt-to-income ratio ≤ 45% (case-by-case exceptions possible).
Landlord training course required for buyers of 2–4 unit properties.
Must be current on all Springfield taxes, fees, and municipal liens.
The program allows a range of housing options, as long as the property is located in Springfield and will be used as your primary residence.
Eligible: Single-family homes, duplexes, triplexes, and 4-unit properties (with owner occupancy).
Not eligible: Second homes, vacation properties, or investment-only rentals.
Confirm your eligibility – Check income, first-time buyer status, and property type.
Complete homebuyer education – Take a HUD-approved course with a local partner.
Find a qualifying property – Choose a Springfield home with 1–4 units.
Apply through the City of Springfield – Submit all required documentation.
Close on your home – Assistance funds are applied at settlement.
Stay in your home – Live in the property for 5 years to have the loan fully forgiven.
This program is built for:
First-time homebuyers who need help covering upfront costs.
Renters who want to transition into owning a Springfield home.
Moderate-income families seeking stable, affordable housing.
Buyers interested in small multi-unit properties to build equity while living on-site.
Not if you stay in the home for 5 years. If you move or sell earlier, you repay the prorated balance.
Yes, up to 4 units — but you must live in one of them.
Yes, you must contribute at least 1% of the purchase price.
Yes, a HUD-approved course is mandatory before closing.
Not unless at least 3 years have passed since you last owned a home.
The Springfield Down Payment & Closing Cost Assistance Program provides up to $35,000 in forgivable help for first-time buyers.
With flexible property options, income-based eligibility, and built-in education support, it’s one of the most accessible paths to affordable homeownership in Springfield, Massachusetts.
