Qualifications
To participate, you must:
First-Gen
Be a first-generation homebuyer
Household Income
Have a minimum household income of $45,000 for outside of Boston, or $60,000 for Boston
Take Classes
Graduate from MAHA's or another CHAPA-approved first-time homebuyer class
Mortgage Ready
Be mortgage-ready, with a minimum credit score of 640
Area Median Income
Earn 100% or less of the area median income for your household size and county
Savings
Have at least $2,000 in assets, and no more than $100,000 in assets
Frequently Asked Questions
If you have any more questions, comments, or concerns, please email us at stash@mahahome.
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A first-generation homebuyer is someone who, along with their parents and spouse (including their spouse's parents), has never owned a home in the US or has lost a home due to foreclosure in the US.
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Below is a list of documents needed by the applicant and ALL employed household members who will be involved in purchasing the home.
Applicant:
- Photo ID
- Employer Paystubs - 1 month's worth of recent paystubs from all active forms of income)
- Bank Statements - Most recent month's savings and checkings statement reflecting a balance of at least $2,000, and not exceeding $100,000
- Tax Return - Previous 2 years of tax returns
- Self-employed applicants must submit 2 years of schedule C net profit or loss statement
Contributing Family Members:
- Photo ID
- Employer Paystubs - 1 month's worth of recent paystubs from all active forms of income
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STASH is an example of race-conscious public policy. Massachusetts has one of the worst racial homeownership gaps in the nation. STASH is intentionally for those who don’t have the “Bank of Mom and Dad” that can help them achieve homeownership. Already we’re seeing results, out of the 245 STASH graduates who have bought homes 97% are people of color.
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This program is designed to support folks interested in building generational wealth by offering a space for questions to be asked and answered by certified professionals that are at the forefront of the housing market. Applicants interested in applying should have up-to-date records of the required documents to apply to the program and demonstrate they're actively working towards homeownership.
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As of 2025, the STASH grant is up to $20,000 for homes purchased in Boston only. At this time, MAHA is actively advocating for additional resources to assist STASH First-Gen buyers with grants to buy a home outside of the City of Boston.
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Accepted STASH applicants must complete 8 hours of financial literacy and homebuyer education via Zoom. During the course, clients actively engage with course material, ask questions, and interact with their homebuying team as needed. While taking the course, they work on their personal finances and save in a custodial account to prepare for homeownership.
After completing the program, clients select a loan officer for pre-approval before starting their home search. STASH staff guide and support them throughout the process. When a STASH down payment grant is available, it is applied to help make the home purchase more affordable. With STASH's support, clients successfully complete the program and buy their first home.
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No, applicants do not need a referral from a partner agency to participate in STASH. However, applicants must have a first-time homebuyer course certificate from any of the partner agencies below, or any other provider approved by the Massachusetts Homeownership Collaborative. We encourage applicants to meet with a HUD Certified Housing Counselor before applying to STASH to ensure they have completed a housing readiness assessment to determine that their next step is STASH. Some clients may need to work on credit, savings, or IRS issues before beginning the homebuying process. Applicants should be ready to secure a mortgage within 3 - 12 months.
- Financial Education Associates
- Harborlight Homes
- Housing Assistance Corporation Cape Cod
- Lawrence Community Works
- Merrimack Valley Housing Partnership
- NeighborWorks Housing Solutions
- Urban Edge
- Valley CDC
- Way Finders Inc
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STASH currently offers clients a cohort structure program that brings together first-generation first-time homebuyers throughout MA. Clients meet other buyers eager to achieve the same goal. The cohort and zoom structure allows clients to review financial literacy education, group counseling together as they work on individual goals essential to becoming homeowners.
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To find out if you are below the 100% Area Median Income (AMI) for the county where you live, click here.
Statewide STASH Partners
Financial Education Associates, Harborlight Homes, Housing Assistance Corporation Cape Cod, Lawrence Community Works, Merrimack Valley Housing Partnership,
NeighborWorks Housing Solutions, Urban Edge, Valley CDC, and Way Finders Inc.