Every Massachusetts loan program Mike runs
One branch manager, the full Massachusetts menu. FHA, VA, USDA, conventional 97 at 3% down, high-balance conforming, jumbo, self-employed, and investor financing. Pick the situation that matches yours, then send your scenario. Mike maps the numbers to your county and your credit profile.
The Massachusetts menu at a glance
Mike does not sell one loan. He fits the first mortgage to your file, from the lowest down payment option to a high-balance jumbo. Massachusetts is an expensive market, so the high-cost limits and the low down payment loans both do real work here. Here is the shortlist so you can find your situation fast.
| Program | Who it fits | Down payment | Key Massachusetts detail |
|---|---|---|---|
| FHA | Lower credit, slim savings | 3.5% | Boston-metro limit $962,550; western MA floor $541,287 |
| Conventional 97 | Mid-600s and up | 3% | MI cancels at 20% equity |
| VA | Eligible veterans | $0 | No monthly mortgage insurance |
| USDA | Rural-area buyers | $0 | Most of Massachusetts is not eligible; address-specific |
| High-balance / Jumbo | Boston-metro and island buyers | Varies | Baseline $832,750; Boston-metro $962,550; islands $1,249,125 |
| Bank-statement / 1099 | Self-employed | Varies | Qualify on deposits, not net tax income |
| DSCR | Investors | Varies | Qualify on the property's rent |
Low down payment options in Massachusetts
You do not need 20% down to buy in Massachusetts. FHA allows 3.5% down. Conventional 97 allows 3% down, with private mortgage insurance that cancels once you reach 20% equity. VA is 0% down for eligible veterans, and USDA is 0% down in the areas that qualify. Gift funds from family are allowed toward the down payment on FHA, VA, and conventional loans. See the low down payment paths page for how each loan compares.
FHA loans in Massachusetts
FHA is the common landing spot when credit sits lower or savings are thin. It allows 3.5% down and treats past credit bumps more gently than conventional financing. The 2026 FHA limit around Boston, in Suffolk, Middlesex, Norfolk, Essex, and Plymouth counties, is $962,550, the same as the conforming figure there. In the western counties like Hampden and Berkshire, the FHA floor is $541,287. Gift funds from family can cover the 3.5% down.
Conventional 97 for Massachusetts buyers
Once your score clears the mid-600s, conventional financing often beats FHA because the private mortgage insurance cancels at 20% equity instead of running the life of the loan. Conventional 97 allows 3% down on a one-unit primary home. For a first-time buyer in Cambridge or Quincy with strong credit but little cash, the 3% down option keeps the entry cost low, and gift funds can cover it. Mike lays the FHA and conventional math side by side so you can see which one costs less over time.
High-balance and jumbo loans in a high-cost state
Massachusetts is expensive, so the line between conforming and jumbo matters here more than almost anywhere. The 2026 baseline is $832,750, which covers Worcester, Springfield, and the western and central counties. Around Boston, in Suffolk, Middlesex, Norfolk, Essex, and Plymouth counties, the high-cost conforming limit rises to $962,550. Dukes and Nantucket, out on the islands, reach the national ceiling of $1,249,125. A loan above your county's number is a jumbo, and Mike runs full-doc, alt-doc, and self-employed jumbo paths.
One correction worth flagging: the Boston-metro limit is $962,550, not the $1,249,125 ceiling. Plenty of sites stamp the top figure across eastern Massachusetts, and it is wrong. Only Dukes and Nantucket sit that high. That gap, roughly $286,575, is the difference between a clean conforming approval and a jumbo file with stricter reserves.
VA loans for Massachusetts veterans
Eligible veterans, active-duty service members, and surviving spouses can buy with zero down and no monthly mortgage insurance. Massachusetts holds a large veteran community, from Hanscom Air Force Base near Bedford to the coastal Navy and Coast Guard presence. Mike handles Certificate of Eligibility questions and entitlement restoration when you use the benefit a second time.
Self-employed and bank-statement loans
Tax returns understate what many business owners really earn, because legal deductions shrink the net figure underwriters read. Bank-statement loans fix that by qualifying you on 12 or 24 months of deposits with an expense-factor adjustment. There are also 1099 loans for contractors and agents, and asset-qualifier loans that build income from liquid accounts. These are Non-QM programs, so they sit outside standard agency rules and price on their own terms. In a state full of consultants, founders, and independent professionals, this is a big share of Mike's book.
Investor and DSCR loans
DSCR loans qualify on the rental income a property produces, not your personal tax return. That keeps investors moving without stacking personal debt-to-income limits. Mike runs standard rental and short-term-rental DSCR options, cash-out refinances for pulling equity into the next deal, and portfolio structures for buyers scaling past a few doors. Gateway cities like Worcester, Lowell, Brockton, and New Bedford draw steady rental demand at price points that still pencil.
Bridge financing to buy before you sell
Move-up buyers in tight Massachusetts markets often need to buy the next house before the current one sells. A bridge structure lets you write a clean, non-contingent offer, which reads far stronger to a seller than one that hinges on your sale closing first. In a low-inventory market like Greater Boston, that edge can win the house. Mike underwrites the bridge against your existing equity plus the new purchase, then coordinates the two closings so you are not carrying two mortgages any longer than you must.
USDA loans: limited in Massachusetts
Most of Massachusetts is not USDA-eligible. The Boston metro, most of eastern Massachusetts, and the coast fall outside the rural map. Where USDA does reach, in the western Berkshires and scattered central and southeastern pockets, it offers a zero-down loan with a household income cap. Eligibility is address-specific, so confirm your exact address at USDA's eligibility tool before you count on it. For most Massachusetts buyers, the low-down path is an FHA loan at 3.5% down or a Conventional 97 loan at 3% down instead.
Massachusetts loan program FAQ
How can I buy a home in Massachusetts with little money down?
You have several low down payment loans. FHA asks 3.5% down. Conventional 97 asks 3% down, with private mortgage insurance that cancels once you reach 20% equity. VA is 0% down for eligible veterans and service members. USDA is 0% down in the areas that qualify, though most of Massachusetts is not eligible. Gift funds from family can cover the down payment on FHA, VA, and conventional loans.
What is the 2026 conforming and FHA loan limit around Boston?
Around Boston, in Suffolk, Middlesex, Norfolk, Essex, and Plymouth counties, the 2026 conforming and FHA limit is $962,550, and both figures match. That is a common point of confusion, because it is not the $1,249,125 national ceiling. Only Dukes and Nantucket, out on the islands, reach $1,249,125. Worcester, Springfield, and the western and central counties sit at the $832,750 baseline. Confirm your county at the FHFA and HUD lookups.
Can I use gift funds for the down payment in Massachusetts?
Yes. FHA, VA, and conventional loans all allow a documented gift from family toward the down payment, and often toward closing costs too. The gift needs a short letter stating it is not a loan, plus a paper trail showing the money moving from the giver to you. Mike walks you through the exact documents so the gift clears underwriting without a last-minute snag.
Can self-employed buyers qualify in Massachusetts without tax returns?
Yes. Bank-statement loans qualify you on 12 or 24 months of deposits with an expense-factor adjustment, not the net figure left after deductions. There are also 1099 loans and asset-qualifier loans that build income from liquid accounts. These are Non-QM programs, so they sit outside standard agency rules and price differently. Mike matches the method to how your income actually shows up.
Is USDA available in Massachusetts?
Only in limited areas. USDA offers a 0% down loan, but most of Massachusetts falls outside the rural eligibility map, including the Boston metro, most of eastern Massachusetts, and the coast. It mainly reaches a few western and central towns. Eligibility is address-specific, so check your exact address at USDA's eligibility tool before you count on it.