City of Lowell HOME Program

The City of Lowell has a federally funded program for down payment and closing cost assistance for first-time homebuyers. This is a no-interest loan program. The loan is to be repaid upon the sale of the home, transfer of the deed, or refinance of the property.

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.

You must be a first-time homebuyer. Veterans do not need to be first-time homebuyers but cannot currently own a home. A first-time homebuyer is defined as someone who has not owned real estate in the last three 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.%.
  • Buyers need to have 1-1/2% of their own funds.
  • There is a $310 mortgage recording fee.
  • Your household income cannot exceed the following:
Family Size = 1$66,300
Family Size = 2$75,750
Family Size = 3$85,200
Family Size = 4$94,650
Family Size = 5$102,250
Family Size = 6$109,800
Family Size = 7$117,400
Family Size = 8$124,950

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

Required Documents

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

Required Home Inspection Review by the City of Lowell

Please note that the Director of Housing & Energy Programs from the City of Lowell will review the buyer’s home inspection report and will require all property deficiencies to be repaired before closing. The City requires three weeks to review and approve a complete application.

Philip Ferreira | Director of Housing & Energy Programs
The City of Lowell
Department of Planning and Development
50 Arcand Drive  | Lowell, Ma. 01852
t: 978.674.1410  | f: 978.446.7014 |

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