funadulttimes t1_j9ges3h wrote on February 21, 2023 at 7:27 PM

A little PSA: for anyone looking to buy their first home, check out the ONE Mortgage program. It’s a nice little first-time homebuyers loan we have here in Mass and I feel like not a lot of people know about it.

UltravioletClearance t1_j9glnu1 wrote on February 21, 2023 at 8:23 PM

I feel like I'm missing something with that program. I looked into it and with the asset and down payment limits, I wouldn't be able to afford the high mortgage payment.

funadulttimes t1_j9gpmw5 wrote on February 21, 2023 at 9:21 PM

There isn’t a downpayment limit, just a downpayment minimum. I have the ONE mortgage and I put down about 11%. I agree that 3% would be really hard to pull off with all the other program requirements.

UltravioletClearance t1_j9grjn0 wrote on February 21, 2023 at 9:34 PM

There's a $75K household asset limit, meaning there's a limit to how much you can save for a down payment.