Home Down Payment Assistance
Are you buying a home in North Andover, MA?
Centro de Apoyo Familiar (CAF) & Bread & Roses Housing administers the North Andover Down Payment Assistance Program. The North Andover Affordable Housing Trust provides down payment assistance to qualified homebuyers who want to purchase a single-family home or condominium in North Andover for use as their principal residence. Applications must be submitted to Centro de Apoyo Familiar (CAF) & Bread & Roses Housing and will be accepted on a first come/first served basis until all allocated funds have been distributed. The amount of allocated funds is determined by the North Andover Affordable Housing Trust.
DPA is considered a “deferred payment loan.” The loan is interest free, and you will not be required to repay the loan or make any payments on the loan unless, during the 10-year term of the mortgage, the property is sold or transferred; is refinanced or encumbered without the Trust’s prior approval; is no longer used as your primary residence; or you otherwise violate any of the terms of the mortgage.
Click here for the Application in English
Click here for the Application in Spanish
Ready to take the first step toward your new home?
Review the requirements and apply today.
Am I qualified?
I am a first-time homebuyer.
I’ve completed a HUD approved homebuyer education class.
My assets do not exceed $75,000 (or $375,000 if 55+).
I will use the property purchased as my primary residence.
I can put down no less than 1.5% of the sales price.
I earn an income that is at or below 100% the AMI.
Have questions? Contact us!
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