Through its Co-Purchasing pilot, the City of Boston lends each eligible household money toward its down payment and reasonable closing costs, capped at $50,000 for households at or below 100% of area median income and $35,000 for households at or below 135%. The loan carries 0% interest and isn't repaid until the household sells, transfers or refinances, and for a two-person household, 100% of area median income is currently $137,200 and 135% is $185,200.
To access it, you need a qualified group, a qualifying property, and a co-ownership agreement the City will accept.
The eligibility checklist
Five requirements. Each household needs to clear all of them.
- You are a first-time homebuyerYou have not owned a primary residence in the past three years. You also need to complete the CHAPA homebuyer courses the program requires, HB101 and HO201. These are available online and typically take a few weekends to complete.
- Your household income is at or below 135% of area median incomeFor a two-person household, that is currently $185,200. Income limits scale by household size. At or below 100% ($137,200 for two people), you qualify for the higher assistance tier.
- You have less than $100,000 in liquid assetsLiquid assets include savings and investment accounts. Retirement accounts such as 401(k)s and IRAs do not count toward this limit.
- You will live in the property as your primary residenceThis program is for owner-occupants. You must live in the unit you are purchasing, and you sign an occupancy agreement with the City as part of closing.
- You contribute at least 1.5% of your share from your own fundsOn a $400,000 share, that comes to $6,000 from personal savings.
Assistance tiers. At or below 100% of area median income, the City lends up to $50,000. Between 100% and 135%, it lends up to $35,000. Each household in the group applies separately and can receive its own assistance.
The loan terms
The City's assistance is a 0% deferred loan, applied at closing toward your down payment and reasonable closing costs.
For worked examples, see what three Dorchester tenants would pay to buy their building and the assistance by neighborhood for City of Boston employees.
What has to be in place
Two sets of requirements: the property itself, and the legal structure all parties sign before closing.
Property requirements
- A two- or three-family home within Boston city limits
- At least as many vacant units as households buying
- Each participating household lives in one unit as its primary residence
- A City-approved mortgage from one of the City's approved lenders
Legal requirements
- Every household signs a co-ownership agreement that meets the City's requirements
- The agreement governs how decisions are made, how expenses are shared, and what happens when someone wants to sell their share
- All parties sign an occupancy agreement committing to use the property as a primary residence
Each household answers our questionnaire, and we turn the answers into a term sheet that your group's attorney uses to finalize the agreement. The City receives the signed copy before closing.
How HomeMates fits in
The City's program requires pieces most buyers have never had to assemble: a qualified group, a property that meets the vacancy rule, a co-ownership agreement, and financing from an approved lender. Our technical assistance covers each of them.
- Intake and eligibility. We meet with each household on its own to talk through budget, timing and what it wants in a home, and we check whether it qualifies for Boston's Co-Purchasing assistance.
- Group formation. Patti Lautner leads three facilitated sessions where the group works out its budget, the kind of building it wants, how it will make decisions, and how a household can leave.
- Market and property analysis. We screen two- and three-family listings for fit with your group and with the City's program, and we model each household's share of the price and its monthly cost before anyone tours.
- Financing alignment. We line up each household's pre-approval toward one joint mortgage with one of the City's approved lenders.
- Co-ownership agreement. Each household answers our questionnaire, and we turn the answers into a term sheet that your group's attorney uses to finalize the agreement.
- City application and closing. We manage each household's application for the City's assistance and coordinate every step through closing and move-in.
We're not a real estate agent, a lender or a law firm. Your group hires its own buyer's agent, and we work alongside them. See everything our technical assistance covers.
From interested to closed
The City's assistance does not add significant time to a standard closing if the pieces are in place before you go under contract.
- 1 · Eligibility checkBook a call or come to a session. We confirm whether each household meets the income and asset requirements.
- Today
- 2 · Homebuyer education coursesEach household completes CHAPA HB101 and HO201. Both are required before the City will issue assistance, and both are available online.
- 2 to 4 weeks
- 3 · Group formation and pre-approvalThe group works through formation, and each household is pre-approved with a City-approved lender. Pre-approval amounts set your combined purchasing power.
- 4 to 8 weeks
- 4 · Property searchWe screen two- and three-family homes in Boston that meet the vacancy requirement and fit your combined budget, and your buyer's agent tours them with you.
- 4 to 12 weeks
- 5 · Offer and purchase agreementOnce you're under contract, your attorney finalizes the co-ownership agreement from our term sheet in parallel with the standard purchase process.
- During inspection
- 6 · City assistance applicationEach household's application goes to the Boston Home Center with the co-ownership agreement, income documentation, and purchase agreement. The City reviews it and issues a commitment letter.
- 2 to 4 weeks after P&S
- 7 · ClosingThe City's assistance is applied at the closing table, and you leave with keys and ownership recorded on title.
- 30 to 45 days after P&S
Program details from the City of Boston, current as of October 2026 and subject to change.
