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Starting Wednesday, November 4, the Revere Affordable Housing Trust Fund began accepting applications for the Revere Affordable Homeownership Buydown Program, which provides up to $75,000-$200,000 in direct purchase price assistance to income-eligible Revere residents purchasing their first home in the City. Please note that the initial application and lottery period has now closed. You may apply to join the waiting list via the application below.
To qualify, applicants must be first-time homebuyers who have lived in Revere for at least two years (or have children in Revere Public Schools, or work 30+ hours per week for a Revere-based employer), complete a homebuyer education course, obtain pre-approval for a fixed-rate mortgage, and contribute at least 3% of the purchase price as a down payment. The property will be subject to a 20 year deed restriction.
For more information, contact Joe Gravellese from the Department of Planning and Community Development at jgravellese@revere.org.