Despite a challenging market for both homeownership and rental housing, MassHousing provided nearly $1.4 billion in financing during the 2023 fiscal year, which ran from July 1, 2022 to June 30, 2023.  

On the Homeownership side, the Agency helped 2,197 Massachusetts residents buy their first home by providing $697.2 million in first mortgage loans and an additional $26.9 million in down payment assistance. The lending totals do not include 1,140 grants for $37.4 million made through the Mass DREAMS (Delivering Real Equity and Mortgage Stability) program. An additional 157 homeowners used $4.6 million in MassHousing financing to remove hazardous lead paint, repair or replace a failing septic system or make other improvements to their properties.  

MassHousing’s Multifamily business line closed 31 transactions for $658.2 million, which supported the creation and preservation of 3,461 rental housing units, 3,331 of which are affordable.

New list of top-performing lender partners and loan officers is now available

Affordable MassHousing home mortgage loans and down payment assistance are originated through a network of banks, mortgage companies and credit unions who partner with us. We recently updated the list of top lenders and loan officers who have helped the most home buyers over the last 12 months. Check it out here.  

MassHousing staff were honored by CHAPA, along with staff from the Mass. Housing Partnership, who also had a version of the MassDREAMS program.

We were thrilled to be recognized by CHAPA (Citizens Housing and Planning Association) at their annual dinner on June 29, for our success with the MassDREAMS grant program for first-time homebuyers.

MassDREAMS (Delivering Real Equity and Mortgage Stability) was a grant program for eligible first-time homebuyers. Last Fall, within the span of just 79 days, MassHousing awarded $37.4 million in DREAMS grants, which were paired with MassHousing mortgage loans, to 1,140 first time home buyers. Of these, 621 grants went to BIPOC households – representing 54% of all the borrowers who were assisted. 75% of the awards went to households with incomes below 100% of the area median income (AMI) and 42% were to borrowers at 80% or less of AMI. The average grant was just under $33,000.

MassDREAMS was made possible by an appropriation of federal funds by the Massachusetts legislature.

New video helps homebuyers understand, access MassHousing financing

MassHousing’s Homeownership Relationship Management team is regularly on the road and in the community at a variety of events hosted by our municipal and nonprofit partners Pictured standing above are MassHousing's Angelo Nuby and Goretti Joaquim with staff from Pro-Home, Inc. at the organization’s annual meeting in Taunton.  

Below, Goretti (fifth from the left) was on hand for a meeting of The Fall River New Bedford Housing Partnership, which was attended by several lenders and nonprofits including city officials and covered affordable programs and products to serve the South Coast Area. 

Angelo (center) represented MassHousing at the City of Boston's Housing Resource Fair in May at UMass Boston. More than 100 attendees were able to meet in person with lenders, Realtors and nonprofit partner agencies at the event. City of Boston staff provide housing resources for consumers to gather information about programs and resources to help them become and remain successful homeowners. 

Kelly Condon, who was named MassHousing's Director of Rental Management earlier this year, discussed the Division's goals to improve processes and efficiencies, and the issues and initiatives that are most pressing for the Agency and the 1,000 multifamily communities it oversees. Read more

In recent weeks, MassHousing announced the closing for affordable rental housing financing for four developments across Massachusetts.

Thanks and congratulations to all of our multifamily partners for these recent milestones!

Springfield Housing Tour: Housing and Livable Communities Secretary Ed Augustus, elected officials and multifamily partners joined MassHousing for a tour of rental projects financed by the Agency in Springfield. Pictured above from left are Kristen Elechko and LaMar Cook from the Governor's Western Massachusetts office; state Representatives Angelo Puppolo and Bud Williams; Secretary Augustus; Springfield Mayor Domenic Sarno; MassHousing Executive Director Chrystal Kornegay; and state Representative Carlos González. Read/watch a story on the visit from WWLP.

Mildred C. Hailey Apartments, Boston (Jackson Square): MassHousing provided $99.1 million in financing for the first phase of this five-phase redevelopment project, which is being led by a collaboration of The Community Builders, Jamaica Plain Neighborhood Development Corp., Urban Edge and the Boston Housing Authority. Read more 

Clarendon Hill, Somerville: A collaboration between Preservation of Affordable Housing (POAH), Somerville Community Corporation and the Somerville Housing Authority has started the first phase of a multi-phase redevelopment project along Powder House Boulevard. MassHousing provided a total of $4 million for Phase 1. Read more 

Kuehn's Way/ Martha's Vineyard Visit: MassHousing's Mark Attia (left) joined Governor Maura Healy, state Representative Dylan Fernandes and other state and local officials on Martha's Vineyard to discuss different challenges facing the island. The visit included a tour of Kuehn's Way, a 20-unit affordable housing community that received $3.8 million in MassHousing financing, and is the largest new affordable rental community built on the Vineyard in 15 years. Read more about the visit

Daniel F. Burns Apartments, Cambridge: In June, the Cambridge Housing Authority celebrated the completion of work at this 198-unit development, where $44.9 million in MassHousing financing helped support renovations and extend affordability. 

Moran Square, Fitchburg: This extensive redevelopment project included converting a former Fire Station into two apartments, redeveloping a three-story commercial building into 14 apartments, and constructing a new, five-story building with 28 apartments between the two buildings. MassHousing provided Rees-Larkin Development with $5.3 million in financing.

Orient Heights, Boston (East Boston): A ribbon-cutting for Overlook Terrace at Orient Heights marked the end of a three-phase redevelopment of 331 deeply affordable public housing units. Built in 1951, Orient Heights was one of the most distressed properties in the Boston Housing Authority’s portfolio. The overall three-phase development by the BHA, Trinity Financial and the East Boston CDC replaced the distressed units and added open and park space and new community space. Through the three phases MassHousing provided a total of $93.2 million in financing. 

Emprsesa Enterprise Center, Brockton: This transit-oriented development located near Brockton's commuter rail and bus terminal was developed by Trinity Financial. MassHousing provided approximately $19 million in financing for 111-unit Phase 2 and $1.75 million through the Affordable Housing Trust Fund for Phase 1 of the project, which redeveloped the former Brockton Enterprise site into the 113-unit Residences at Centre and Main.

The New England Resident Service Coordinators, Inc. (NERSC) recognized MassHousing for their support and commitment at the organization’s annual conference in May. MassHousing's Director of Housing Stability Libby Hayes is pictured second from the right above alongside other New England HFA staff accepting an award on behalf of the Housing Stability team. During the event, retired MassHousing staff member Sylvette Betancourt was also honored for her role in the founding of NERSC and for her years of service to the industry.

The Massachusetts Supplier Diversity Office (SDO) recently recognized MassHousing for its outstanding participation in the Commonwealth's Supplier Diversity Program, which "encourages the award of state contracts in a way that strengthens and increases business opportunities" for diverse businesses. Pictured from left are MassHousing's Tony Richards and Andrea Laing with SDO Executive Director William McAvoy.

MassHousing's Equitable Business Development team was in Worcester recently, connecting with partners and seeing the impact of the Agency's work first-hand. Pictured above are members of the Equitable Business Development Division with Worcester City Manager Eric Batista (third from right).

During the visit, EBD toured several multi-unit affordable rental and homeownership projects funded by MassHousing through the Neighborhood Stabilization and Gateway Housing Rehabilitation Programs, which address disinvestment and blighted conditions in Massachusetts communities. The programs provide capital grant funds for the redevelopment, reconstruction, renovation, or repair of substandard and blighted properties, helping stabilize neighborhoods across the Commonwealth. 

One of the projects to receive an NSP award is now underway in Springfield. Hope CDC and developer Naylor Nation are using NSP funds to redevelop a vacant urban lot located in the city's North End neighborhood into a two-family home for a moderate-income first-time homebuyer, who will in turn rent the second unit to a low- or moderate-income tenant. 

MassHousing was on hand to celebrate the opening of the Lower Winter Street Apartments in Quincy, a new development from NeighborWorks Housing Solutions that provides 18 single-room occupancy (SRO) units of permanent supportive housing for individuals who have experienced homelessness. The project received a $75,000 grant through MassHousing’s Center for Community Recovery Innovations (CCRI).