Elizabeth Dailey - Real Estate Agent

🏡 Massachusetts Teal Estate: Today’s Updates

⚖️ Mortgage Rates: Borrowers continue seeing steady rates, typically 7.0%–7.1% for FHA-style financings.

🛡 MassHousing Expanded DPA (June 11):
• Now offers up to $25,000 statewide for income eligible, first time homebuyers in any town.
• Income limit for a 2% DPA: up to 80% of AMI; 3% DPA available for incomes up to 135% AMI.

🏠 One Mortgage Program:
• Requires just 3% down, no PMI, and includes interest subsidies can complement FHA financing.

📍 Local Grants:
• Worcester City DPA: $5,000 for qualified first time buyers.
• Targeted MassDREAMS grants (potentially up to $50,000) for “Gateway Cities”; likely to reopen soon.