STASH is a first-in-the-nation matched-savings program for first-generation homebuyers below the area median income. If you are the first-generation in your family to buy a home, then we have a $2,000 STASH for you. If you are buying in the City of Boston, then you take be part of our new Boston First-Gen Partnership with Mayor Walsh and the City's Department of Neighborhood Development. If you save $2,500, you will get $5,000 in match dollars.
Here's the deal: Graduate from a MAHA Homebuying 101 class; Sign up for our monthly savings club and attend monthly meetings; Save $2,000 of your own money; Buy a house and get a match for associated costs at the time of purchase. Questions? Email Sarah at email@example.com
Why first-generation homebuyers?
STASH is a pilot program that is an example of a race-conscious public policy. Massachusetts has one of the worst racial homeownership and wealth gaps in the nation. We need to be intentional about closing that gap and STASH can play a role. First-generation homebuyers do not have the "Bank of Mom and Dad" and STASH can be that resource to help put first-generation homebuyers on a level playing field with those that have intergenerational assets. DONATE to STASH today to help us reach more first-generation homebuyers and provide a direct savings match.
Who participates in STASH?
Great question. The median income of STASH households is $56,500 and the average household size is 2.6 persons. 81 STASH participants have saved $99,920 and six have purchased. 81% are Black; 12% are Latinx; 4% multiple race; 2% white; and 1% Asian. 37% live in Dorchester; 17% in Hyde Park; 12% in Mattapan; and 8% in Roxbury. 90% are Boston residents. DONATE to STASH today to help us reach more first-generation homebuyers and provide a direct savings match.