City of Lowell HOME Program

The City of Lowell has a federally funded program for down payment and closing cost assistance for first-time home buyers. This is a no-interest loan program. The loan does not need to be paid back until the house is sold, transferred or refinanced (if equity is taken).

The amount of assistance provided is based on need. The maximum amount of assistance is $11,800.

Eligibility Requirements

Participants should call for a pre-application interview to establish eligibility and to determine the amount of assistance. A “certificate of eligibility” will be issued once the person qualifies. Call 978-459-8490 to schedule an appointment.

You must be a first-time home buyer. (Veterans do not need to be first-time home buyers but cannot currently own a home.) A first-time home buyer is defined as someone who has not owned real estate in the last 3 years.

  • 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 45.0%.
  • Buyers need to have 1-1/2% of their own funds.
  • There is a $205 mortgage recording fee.
  • Your household income cannot exceed the following:
Family Size = 1$55,950
Family Size = 2$63,950
Family Size = 3$71,950
Family Size = 4$79,900
Family Size = 5$86,300
Family Size = 6$92,700
Family Size = 7$99,100
Family Size = 8$105,500

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. 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
67 Middle St., Suite 501
Lowell, MA  01852

By Regular Mail
P.O. Box 1042
Lowell, MA  01853-1042

Required Documents

Please download the City of Lowell Program Description to view the list of required documents.

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.

The mortgage clause should be on your homeowner’s insurance binder and read as follows: “City of Lowell – Department of Planning & Development as “Mortgagee”, 50 Arcand Drive, Lowell, MA 01852″.