Post Content

Buying a home is one of the biggest purchases a consumer will ever make. Although buying and owning a home may seem daunting, prospective Massachusetts homeowners have a wealth of resources to prepare themselves.

HUD-approved housing counseling agencies and Community Development Corporations around Massachusetts provide a variety of information for landlords, tenants, homeowners, and prospective homebuyers. First-time homebuyers can enroll in courses to better prepare for the responsibilities that come with owning a home. Lessons provided through these courses include information about home inspections and maintenance, understanding and obtaining a mortgage, credit and finances, and more.

Staff from the Office of Consumer Affairs and Business Regulations has partnered with the Asian Community Development Corporation in Boston to teach first-time homebuyers about understanding credit. In these courses, prospective homebuyers learn how to read a credit report, how to use credit cards wisely, and how to take charge of their finances to prepare for this major purchase.

In June 2013, the Patrick Administration announced the Massachusetts Homeownership Compact that created a goal to provide 10,000 mortgages to first-time homebuyers. The Commonwealth of Massachusetts partnered with banks, credit unions, and other lenders to offer mortgage products that require less money down and provide lower interest rates to first-time homebuyers. One of these mortgage products is offered under the ONE Mortgage Program through the Massachusetts Housing Partnership, and other special mortgage products are offered through MassHousing. Many of these mortgage assistance organizations require prospective homeowners to complete a first-time homebuyer course to be eligible for their programs.

Prospective homeowners should take advantage of these free or very low-cost classes around the Commonwealth to become a savvy first-time homebuyer. For more information about where to find first-time homebuyer courses and low-cost mortgage products, visit the Office of Housing and Economic Development’s First Time Homebuyer page.

To enquire about having OCABR be a part of a first-time homebuyer presentation with a local Community Development Corporation, please contact Julian Smith, Consumer Research and Programs Manager, at julian.w.smith@state.ma.us.

Written By:


Paul Bologna is a student at Northeastern University and is a communications co-op at the Office of Consumer Affairs.

Recent Posts

Scam Log Analysis – June 2015 posted on Jul 22

Scam Log Analysis – June 2015

The Massachusetts Office of Consumer Affairs and Business Regulation compiles publicly available scam, identity theft, and fraud complaints from around the Commonwealth via police logs, news outlets, and other sources, as well as through the Office’s Consumer Information Hotline. Below is a quantitative analysis of   …Continue Reading Scam Log Analysis – June 2015

Competitive Energy Sellers posted on Jul 16

You have just moved into your new apartment and need to set up electricity service so you call your local utility company (National Grid, Eversource, or Unitil); within hours you are enjoying your favorite television show. One day someone comes to your door and tells   …Continue Reading Competitive Energy Sellers

Using Ticket Resellers posted on Jul 9

With the arrival of summer, many concerts and shows are coming to Boston and the Commonwealth. The Office of Consumer Affairs and Business Regulation (OCABR) cautions consumers who are looking for tickets online to carefully consider the validity of the seller before giving your money   …Continue Reading Using Ticket Resellers