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| Welcome to the First Time Home Buyer section of the CRC Website. CRC offers two options :
- New Down Payment & Closing Costs Assistance Program
- A 2 Saturday Session First Time Home Buyer Workshop
Click Here to Register via First Time Home Buyer's Online Express Workshop Application Workshop Dates 2009
English Saturday Morning
Jan 31 & Feb 7 9am-1pm
| Apr 25 & May 2 9am-1pm
| Aug 15 & 22 9am-1pm
| Oct 10 & 17 9am-1pm
| | Register Click Here |
To Save $10 Print and bring in the following flyer 
(Aug 08 First Time Home Buyer Flyer)
Here is some information about the First Time Home Buyers Process. Click Icons below for more info.
New! Down Payment & Closing Costs Assistance Program
(DAP Info Sheet)
The assistance is available in the following cities: Chelsea, Everett, Revere, Malden, Medford, Melrose, Arlington, Winthrop
If you wish to purchase in one of the cities mentioned, please call the Office of Planning & Development in the City Hall in that community.
- Must be a First Time Home Buyer
- Must obtain a First Time Home Buyers Workshop Certificate (CRC's only)
- Must obtain a Soft Second Mortgage from Mass Housing Partnership MassAdvantage Standard, or MassAdvantage100 from Mass Finance Agency
Citizen’s Bank, Chelsea Provident Bank, Eastern Bank, Sovereign Bank, Central Bank, Wainwright Bank, Medford Bank, Cambridge Savings Bank, Bank of America, Bank North Bank, Boston Private Bank
| 4. | Income Limits: | | 5. | Purchase Price Limits: |
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| 1 $46,300 | 5 $71,450 | | One Family or Condo: | $362,790 | | 2 $52,950 | 6 $76,750 | | Two Family | $461,113 | | 3 $59,550 | 7 $82,050 | | Three Family | $560,231 | | 4 $66,150 | 8 $87,350 | |
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| Assistance Breakdown: |
| Closing Costs | | One Family or Condo | $5,000 | Up to 2,300 excludes pre-paids | | Two Family | $6,000 | Up to 2,400 excludes pre-paids | | Three Family | $6,500 | Up to 2,500 excludes pre-paids | | For For example: One Family $5,000 Closing Costs $1,000 (assumed/estimated) Down payment $4,000 | The most important documents you should submit in order to begin the application process: * 4 most current pay stubs (2 if paid by-weekly) * 3 most recent bank statements for each bank account * 3 years of Income Tax Returns
Soft Second: 1.5% of the down payment should come from the buyer's savings, (must demonstrate three months of savings history to lender) and the remainder of the 3% can be a gift or grant. MassAdvantage Standard: 3% of the down payment should come from buyer's savings. The remainder of down payment can come from a gift or grant. MassAdvantage100%: 100% finance is allowed on singles and condos (the assistance can be used towards closing or principal)
* Assistance must be specified in the Offer and Purchase & Sales Agreement
* No more than $20,000 in liquid assets (in savings, checking, stocks, bonds, etc.)
* No cash out at the closing
* Home Inspection by Certified Home Inspector
* Housing Quality Standard Inspection by City
* $25.00 non-refundable Application Fee
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