Boston Home Center (down payment loans/grants for first time, income-eligible home buyers)
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source: http://www.boston.com/2014/01/27/guide/elZHSYcVpoGslwX4UIkuEJ/singlepage.html
Through its Boston Home Center (617-635-4663, cityofboston.gov/dnd/bhc), the city’s Department of Neighborhood Development has three programs for first-time home buyers of one- to three-family homes or condos in Boston whose household income does not exceed 120 percent of the area’s median — $90,600 for a family of two. You can get a loan for up to 3 percent of the purchase price for the down payment and closing costs for any kind or property, and up to $20,000 for the down payment and closing costs on a three-decker or for the purchase and rehab of a foreclosed property. The program also takes into account borrowers’ assets. “If you’ve got $300,000 in the bank,” says Sheila Dillon, director of the Department of Neighborhood Development, “we’re not here to help you. You don’t need us.”
For every year you stay in the house, 20 percent of the down payment and closing cost payout is forgiven. So if you live there for only one year, you’d have to pay back 80 percent of the money, but if you stay five years, the money is considered a grant, and you’re in the clear.