Everett dramatically expands its $20,000 first-time homebuyer program, with families earning up to $287,800 now able to qualify for forgivable down payment assistance.
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Income limits raised from 100% to 150% of Area Median Income — a family of six can now earn up to $287,800 and still qualify
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Asset limits increased from $75,000 to $100,000 for liquid assets like bank accounts and stocks
- Now open to families and individuals looking to make Everett their new home
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Forgivable loans of up to $20,000, with 20% forgiven each year over five years
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Eligible for condos, single-family, and multi-family homes in Everett
- Won’t slow down your buying timeline
Why it matters: The expansion could dramatically increase the pool of eligible buyers. Previously, only current Everett residents earning between 60-100% of AMI qualified — now anyone can apply if they meet income requirements.
What they’re saying:
“A $20,000 down payment can be life-changing, especially for working families and young professionals,” said Mayor Carlo DeMaria. “We’re excited to open the door to more first-time buyers, including those who are looking to join our growing and vibrant community.”
- Funding comes from American Rescue Plan Act, not your tax dollars
- Applications processed first-come, first-served
- Must remain primary residence for five years for full loan forgiveness
- Application available in English, Spanish, Portuguese, and Haitian Creole
How to apply: You can view the applications online or pick up forms at City Hall (484 Broadway), Office of Planning and Development, Room 25.