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 firstname.lastname@example.org
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.
Who participates in STASH?
Great question. The median income of STASH households is $56,500 and the average household size is 2.6 persons. 191 STASH participants have saved over $220,000 and fourteen have purchased. 73% are Black; 18% are Latinx; 5% multiple race; 3% white; and 1% Asian. 38% live in Dorchester; 12% in Hyde Park; 9% in Mattapan; and 9% in Roxbury. 90% are Boston residents.
Donate to STASH in Memory of Jesse Hubbell
Jesse Hubbell passed away suddenly and tragically on June 17, 2019 while working on location in Montana. Jesse was born and raised in Washington D.C., but it was Jesse's love of music and the Jazz guitar that brought him to college in Boston, and it was there he stayed to build a career in commercial and film production. Homeownership was also important to Jesse and his family and friends have joined together to raise money for MAHA's STASH program in honor of Jesse's life and his belief in the power of homeownership. Join Jesse's family and friends and DONATE to STASH today to help us reach more first-generation homebuyers and provide a direct savings match.