Down Payment Assistance Program

We’re here to help with your dream of buying your first home.

We know how difficult it is to save for a down payment on a home. The Andover Down Payment Assistance Program provides down payment assistance to income-qualified buyers who meet program guidelines. Buyers may be eligible for assistance up to 5% of the purchase price or up to $5,000 for down payment costs for eligible first-time homebuyers purchasing a property located in Andover.

The assistance takes the form of a 0% interest loan with a five-year term secured by a note and a mortgage.  The loan is payable on the sale or transfer of the property.  

• Applicant must reside in the purchased home as their only residence.

• Applicant must be a first-time homebuyer.

• Applicant must complete a certified First-Time Homebuyer Training Seminar. To look up classes near you visit CHAPA or MVHP.

• Applicant must be unable to purchase the home without assistance.

• Applicant must be income eligible.

Income limits are as follows: 80% of area median income*

  Family Size   Income Limit

1 $66,300
2 $75,750
3 $85,200
4 $94,650
5 $102,250
6 $109,800
7 $117,400

• Limits subject to change.

• Liquid assets cannot exceed $25,000 after closing.

Application and supporting documents required.

NEXT STEPS:  Contact Andover Community Trust at info@andoverclt.org

Andover Community Trust is facilitating this program for the Town of Andover under the American Rescue Plan Act.