Eligibility Expanded for Revere’s First-Time Homebuyer Downpayment Assistance Program
June 26, 2025
REVERE, MA – The City of Revere and the Affordable Housing Trust Fund Board have announced that with funds still available for its $10,000 first-time homebuyer downpayment assistance program, eligibility has been expanded to include Revere residents making up to 100% of area median income (AMI).
The application is available via the City of Revere’s website, at www.bit.ly/RevereDownPayment.
“We’re happy to offer this program to residents looking to remain in Revere, to plant their roots, and to invest in our City’s future,” commented Mayor Patrick M. Keefe Jr. He continued, “This program opens the door for upward mobility through homeownership.”
Funding is available for eligible City of Revere residents seeking to purchase their first home in the City. Applicants must demonstrate 2+ years of existing Revere residency with the intention of purchasing a condo or single-family home, either at market rate or affordable rate, in Revere. A 2-3 family home may be purchased with a signed agreement with the city and state to rent all non-owner-occupied units below market rate, in accordance with EOHLC guidelines.
This assistance is provided on a first-come, first-served basis while funds are available, with $10,000 in downpayment assistance awarded to those who qualify while funds last.
To be considered, please submit a completed application on revere.org, along with supporting documentation. In addition to Revere residency, qualified applicants must have an income level at or below 100% of Area Median Income (AMI), be pre-qualified for a mortgage, and enroll in a first-time homebuyer course.
The income limit for the program is based on household size:
1 person - $115,800
2 people - $132,350
3 people - $148,900
4 people - $165,400
5 people - $178,650
Limits for households of 6+ can be found at www.mhp.net and are based on AMI in Suffolk County.
Previously, the program was limited to residents at 80% of area median income, but eligibility was expanded as there are still several $10,000 grants remaining.
Qualified applicants will have six months upon verification of eligibility to enter into a purchase and sale agreement to receive $10,000 in downpayment assistance from the City.
For questions about the program, contact Joe Gravellese, chair of the Affordable Housing Trust Fund board, at jgravellese@revere.org; or call the City of Revere Department of Planning and Community Development at 781-286-8181.
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