The City of Lowell has a federally funded program for down payment and closing cost assistance for first time home buyers. This program provides 4-1/2% of the purchase price up to a maximum of $10,000. This is a no-interest loan which does not need to be paid back until the house is sold or refinanced.
Eligibility Requirements
Participants must complete a Pre-Application Interview before applying for assistance. This should be done prior to making an offer on a property. Call 978-459-8490 to schedule an appointment.
You must be a first time home buyer.
The property you are purchasing must be in Lowell.
All members of the household must have a valid social security number.
The total debt ratio (calculated by the lender) cannot exceed 45%.
Your household income cannot exceed the following:
Family Size Maximum Annual Household Income
- $45,100
- $51.550
- $58,000
- $64,400
- $69,600
- $74,750
- $79,900
- $85,050
Procedure to Apply
The homebuyer and the lender prepare all the necessary documents and submit them to the Merrimack Valley Housing Partnership (MVHP). After reviewing the application for eligibility and completeness, the MVHP prepares the legal documents and submits the application to the City of Lowell's Division of Planning & Development. The funds are typically available three weeks after a COMPLETE application package is submitted to the City of Lowell.
Lenders should send complete packages to MVHP.
By Fed Ex or UPS By Regular Mail
MVHP MVHP
10 Kirk Street P.O. Box 1042
Lowell, MA 01852 Lowell, MA 01853-1042
Required Documents
Please download the City of Lowell Application (on left under "Downloads") to view the list of required documents.
Please DO NOT FAX or E-MAIL application materials.
Please note that major mechanical problems in a house must be rectified by the seller prior to closing in order to receive down payment assistance.