The 2026 Massachusetts Home Loan Guide
Every Massachusetts home loan compared in one place, so you can see which one fits your credit and down payment, and where MassHousing can help with the down payment. Read it here or get it emailed.
Which Massachusetts home loan is right for you?
There is no single best mortgage. There is the one that fits your credit, your down payment, and your goals. Most Massachusetts buyers land on one of five paths, and the right choice usually comes down to your credit score and how much you have to put down. Here is the plain-English map.
| Loan | Min down | Min credit | Best for |
|---|---|---|---|
| VA | 0% | 580–620 | Veterans, active duty |
| USDA | 0% | 640 | Eligible rural areas |
| FHA | 3.5% | 580 | Lower credit, flexible ratios |
| Conventional | 3% | 620 | Stronger credit; drops PMI at 20% |
| Jumbo | 10%+ | 700+ | Above the conforming limit |
Don't have the down payment? There's help.
Massachusetts runs its help through MassHousing and the Mass Housing Partnership. MassHousing gives up to $30,000 in down payment assistance, a 0% deferred second, the same amount in every city and town. The ONE Mortgage is a first loan with 3% down, no private mortgage insurance, and a state subsidy that lowers the payment, for first-time buyers. Assistance layers onto your loan, so you keep more cash at closing. First-time buyers in Massachusetts can see the full menu, the income limits, and who qualifies.
What credit score do you need?
Lower than most people assume. FHA and VA open at 580, USDA at 640, conventional at 620, and jumbo usually wants 700+. A 600 score has real options today, and a focused 60–90 days can lift you a full tier and cut your rate. Your score sets your menu; it rarely closes the door.
What counts as a jumbo loan?
A jumbo loan is any mortgage above the conforming limit the FHFA sets each year. The 2026 baseline is $832,750, but the Boston-metro counties are high-cost at $962,550, and the islands of Dukes and Nantucket reach $1,249,125. Above your county's limit the loan cannot be sold to Fannie Mae or Freddie Mac, so it is underwritten to stricter standards, typically a larger down payment and a 700+ score. In Greater Boston, where prices run high, jumbo comes up often; in western Massachusetts it is rare.
Figures reflect current 2026 guidelines; the conforming limit and program terms change — confirm current numbers with a specialist. Sources: FHFA, HUD, VA, Fannie Mae, Freddie Mac. This is not a commitment to lend.
Frequently asked questions
What types of home loans are available in Massachusetts?
Five main paths: the ONE Mortgage (3% down, no PMI, first-time), FHA (3.5% down, 580 credit, with higher Boston-metro limits), conventional (3% down, 620 credit, drops PMI at 20% equity), high-balance conforming (up to $962,550 in Boston-metro counties), and jumbo above that. USDA is a minor player, since most of Massachusetts is not eligible. MassHousing down payment assistance can layer onto most of them.
What credit score do you need to buy a house in Massachusetts?
It depends on the loan. FHA and VA open at 580, USDA at 640, conventional at 620, and jumbo usually wants 700+. A 600 score has real options, and a focused 60–90 days of credit work can move you a full tier and lower your rate.
What is a jumbo loan?
A jumbo loan is any mortgage above the conforming loan limit the FHFA sets each year. The 2026 baseline is $832,750, the Boston-metro counties are $962,550, and Dukes and Nantucket reach $1,249,125. Above that limit the loan can't be sold to Fannie Mae or Freddie Mac, so it's underwritten to stricter standards, typically 10%+ down and a 700+ score.