Chelsea residents trying to buy their first home in the city can get up to $20,000 toward the down payment and closing costs through a program run by the City of Chelsea and Chelsea Restoration Corporation, a nonprofit on Pearl Street that offers homebuyer education and counseling in English and Spanish.
The city promoted the First-Time Homebuyer Down Payment and Closing Cost Assistance Program on Facebook this week. It is open only to people who already live in Chelsea.
Who qualifies
According to Chelsea Restoration’s program page, a buyer must:
- Be a current Chelsea resident buying a home in Chelsea
- Be a first-time homebuyer
- Meet income limits based on household size
- Buy a single-family home or a condominium
- Complete a homebuyer education course certified by HUD
The amount is not automatic. Chelsea Restoration says each award depends on the buyer’s financial need, the purchase price and the lender’s requirements, up to the $20,000 cap. The city’s post says additional eligibility rules apply. Neither the city nor Chelsea Restoration has posted the income limits online, so buyers need to call to find out where they stand.
The class comes first
The education course is the step that takes planning. Chelsea Restoration runs its first-time homebuyer workshop over two Saturdays, 9 a.m. to 2 p.m., and has posted its 2027 schedule:
- English: March 6 and 13, July 10 and 17, and October 16 and 23
- Spanish: May 15 and 22, and September 11 and 18
Applications for the March session are on the workshop page. For buyers who already have a signed purchase and sale agreement or a closing date and cannot wait for a workshop, Chelsea Restoration offers an online course through Framework: six modules with a quiz each, then a phone exit interview, for $100 in total, nonrefundable.
How to apply
- Chelsea Restoration Corporation, 154 Pearl Street, Office 2, 617-889-2277
- City contact named in the city’s post: [email protected]
- Workshop and online course applications: [email protected]
Chelsea Restoration’s website says the organization has helped 421 families with down payment and closing cost assistance over the years and 790 families facing foreclosure.