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