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Loans & Grants / Homeownership

The Office of Housing and Community Development (OHCD) offers several housing programs that provide funding for owner-occupied and investor-owned residential properties in the City of New Bedford. These programs provide funds to benefit low and moderate-income individuals and families in the City of New Bedford by securing and/or improving their housing throughout the City. The OHCD receives federal funding through the HOME Investment Partnership Program [HOME] and the Community Development Block Grant [CDBG] program from the U.S. Department of Housing and Urban Development [HUD]. In addition to these federal funds, OHCD also administers state programs on behalf of the Massachusetts Housing Partnership Fund [MHP], the Massachusetts Department of Housing and Community Development [DHCD] and MassHousing.

The amount of money available depends on the program, itself, as well as the availability of funding. This is important to remember because the City only receives a limited amount of funds each year for the programs; all of these programs are subject to the availability of funding.

  • "Neighborhoods First" First Time Homebuyer Program. This program offers down payment and closing cost assistance, rehabilitation assistance and gap financing to enable income eligible applicants to own their first home. One to four family properties are eligible. Borrowers must meet HUD income limits. When using the First Time Homebuyer Program for down payment and closing cost assistance, applicants must provide at least $1,000 of the required down payment from their own funds. Rehabilitation assistance is used for the correction of substandard conditions and to comply with minimum housing quality standards, building codes and state sanitary and health codes. Rehabilitation must adhere to Massachusetts and U.S. Dept. of Housing and Urban Development lead paint statutes. First Time Home Buyer Loan Procedures and Checklist.

  • Soft Second. This program helps income eligible first time homebuyers qualify for a higher mortgage amount by reducing monthly mortgage payments and eliminating the need for Private Mortgage Insurance (PMI). Purchased property must be a 1 - 3 unit home located within New Bedford or Massachusetts Housing Partnership (MHP) approved community. This program can work with the Neighborhoods First Program described above. MHP Soft Second Loan Program website. Soft Second Brochure.

  • MassHousing Programs. The Commonwealth provides opportunities for low-moderate income individuals to buy their first home or make improvements. For more information on these programs, see the MassHousing website MassHousing Programs or contact OHCD at the phone number below.

For more information about these programs, contact the Office of Housing and Community Development at 508-979-1581.


Art Museum Building - 608 Pleasant St. - 2nd Floor - New Bedford, MA 02740
Tel: 508-979-1581 - Fax: 508-979-1575
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