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HRA administers two assistance programs to help income-eligible homebuyers purchase in Leverett: the Down Payment Assistance Program and the Homeownership Assistance Program. Please review the program flyer to see income guidelines and other program requirements. HRA is currently accepting applications for both programs. The Down Payment Assistance Program will serve eligible homebuyers on a first-qualified, first-served basis. The Homeownership Assistance Program, also known as the Buy Down Program, will conduct a lottery to select qualified applicants to access Buy Down Program funds. The application deadline for the Buy Down Program has been extended to June 4. The lottery will be held soon thereafter. Only applicants who meet all of the applicable eligibility criteria shall be entered into the lottery.
Buy Down Program
The Buy Down Program provides a homebuyer with up to $50,000 to reduce the purchase price of a home, and preserves the long-term affordability of that property by placing a deed restriction on it. Homes purchased through this program cannot exceed $270,000.
Down Payment Assistance Program
Qualified homeowners can gain access to a 0% interest deferred payment loan for 5% of the purchase price, which is repaid when the property is sold or transferred. Homes purchased through this program cannot exceed $280,000.
Leverett Assistance Programs
Income Eligibility Chart
|Household Size||Maximum Income|
|One (1) person||$52,360|
|Two (2) people||$59,840|
|Three (3) people||$67,320|
|Four (4) people||$74,800|
|Five (5) people||$80,784|
|Six (6) people||$86,768|