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Yes. Our First-time Buyers Loan Program makes loans to low and moderate-income individuals or families who have not owned a home before (plus owners over 55 and others who meet specific requirements--please ask about these exceptions). This loan has 0% interest and no monthly payments. However, it must be re-paid when you sell or transfer the property. It can be used for down payment, closing costs, legal fees, or repairs. The amount you are able to put into the purchase from your own funds will usually be matched by the town, up to $10,000. The minimum required from your own funds is 1.5% of the purchase price. For more details on the program, please see our application (PDF) and brochure (PDF) or
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Yes. Our Home Rehabilitation Loan Program is available to low and moderate-income people - seniors and others - who need to make repairs to their homes. Depending on the source of funds that we use to make the loan, it may be forgivable. In all cases, the loan is 0% interest, with no monthly payments, and doesn’t need to be paid back until you sell or refinance your home. Seniors may find this program especially helpful if they wish to stay in their homes but can’t afford to pay for the needed improvements. Special consideration is given for emergency needs such as a leaking roof or a non-functioning boiler (in the winter). Please see our application (PDF) and brochure (PDF) for more details on the program.