ONE+Lowell

ONE+Lowell increases the buying power for income-eligible first-time homebuyers who are looking to purchase a home in the City of Lowell with the ONE Mortgage Program. Find out more about ONE+Lowell on the Merrimack Valley Housing Partnership's (MVHP) website.

ONE+Lowell provides these benefits:

Purchase or plan to purchase a property in Lowell, MA. You do not have to be a current resident of Lowell to participate.
Be a first-time homebuyer. You are considered a "first-time homebuyer" if you have not had ownership interest in a property in the last 3 years.
Take a first-time homebuyer class.
Be able to meet the down-payment requirements. For condominiums, single and two-family properties, the minimum requirements for the traditional ONE Mortgage is 1.5% of your own funds, with ONE+Lowell providing up to an additional 3% for the down payment. If purchasing a three-family property, the minimum requirement is 3% of your own funds with ONE+Lowell providing up to an additional 3% for the down payment.
Your household income cannot exceed the maximum income limit. Check current income limits here.
Have less than $75,000 in total liquid assets.
Meet the minimum credit score needed for eligibility. Your credit score must be at least 640 to buy a single-family home or a condo, and at least 660 to buy a two/three family home. We have options for people who do not have any credit history.
Agree to live in the property as your primary residence.

Take the ONE+Lowell Pre-Eligibility survey. You can access the survey at: ONE+Lowell Pre-Eligibility Survey
Take a homebuyer education class. MVHP offers these classes at: First-time Homebuyer Training Classes. You can also find first-time homebuyer classes at: My Mass Home.
Contact a participating ONE+Lowell lender. A list of participating lenders can be found at: ONE+Lowell Participating Lenders

If you have any questions, please contact MVHP at 978-459-8490 or mvhp@mvhp.org.