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1. I have saved some money for a down payment but it’s not enough. Can you help?

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

2. Is your First-time Buyers Loan Program limited to those who have never owned a home before?

Generally, the First-time Buyers Loan Program makes loans to low and moderate-income people who have not owned real estate during the 3 years before the application is submitted. However, there are exceptions to this rule. Here’s how it works:

People in the following circumstances are also considered first-time home buyers:

• Displaced homemakers, where the displaced homemaker (an adult who has not worked full-time, full-year in the labor force for a number of years but has, during such years, worked primarily without remuneration to care for the home and family), while a homemaker, owned a home with his or her partner or resided in a home owned by the partner
• Single parents, where the individual owned a home with his or her partner or resided in a home owned by the partner and is a single parent (is unmarried or legally separated from a spouse and either has 1 or more children of whom the individual has custody or joint custody, or is pregnant)
• Households where at least 1 household member is 55 or over
• Households that owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations
• Households that owned a property that was not in compliance with State, local or model building codes and that cannot be brought into compliance for less than the cost of constructing a permanent structure

3. Do you have funds to help with repairs to my home?

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.

4. What sorts of incentives do you offer to developers of housing, including financial assistance?

Ipswich encourages developers to include affordable units in their plans. To give you greater flexibility in meeting the inclusionary zoning requirements, you have a choice of including one or more affordable units in the project or making a payment to the Affordable Housing Trust Fund.

If you are the owner of a multifamily building, you may be eligible to receive a payment in exchange for a permanent affordability restriction on one or more of the apartments or condos.

If you are a developer with a Comprehensive Permit / 40B project in mind, you can expect to receive proactive collaboration from everyone in the Planning Department and affordable housing staff.

Please see the Ipswich Zoning Bylaws for more information.

5. What are the options open to property owners who wish to create an accessory apartment or a residential dwelling in an outbuilding?

If you own a house and you’re interested in creating a rental apartment within the house and you’re willing to restrict the unit to low- or moderate-income households, you may be eligible for a subsidy to help pay for the costs of developing such an apartment. A formal Affordable Housing Restriction would be added to the deed that will ensure this use for a long period of time.

On the other hand, if you own a house with an outbuilding and you’re interested in converting the outbuilding for residential use, the town’s bylaws stipulate that you must designate that unit as affordable or pay a fee to the Affordable Housing Trust Fund.

6. When you refer to low and moderate-income individuals or families, what exactly does that mean?

All of the assistance that’s provided for affordable housing - whether it comes from the town, state or federal programs - is subject to income guidelines. See more information on the Area Median Income.