New Bedford to expand first-time homebuyer program
NEW BEDFORD, Mass. (WLNE) — New Bedford Mayor Jon Mitchell announced Monday that the city would expand its first-time homebuyer program.
The program will provide up to $25,000 in down payment and other assistance for eligible residents.
The property being purchased must be in New Bedford, and buyers must be current city residents.
Other eligibility requirements include that the buyer must have a household income at or below 120% of the area median income, and must commit to living on the property as their primary residence for five years.
City employees are eligible for an additional $10,000 in assistance.
“Expanding the first-time homebuyer program will help New Bedford residents put down roots and grow wealth in our City,” Mayor Mitchell said.
“I want to thank our federal delegation for supporting our efforts to make housing more attainable for our residents.”
