What We Do 

Since 2018, Madison Park Development has provided numerous home buying workshops and financial resources to support residents who want to purchase their own home. The training program aims to educate MPDC residents about the home buying process, provide residents with an economical pathway to building wealth, and create an affordable rental opportunity for another deserving family. 

Workshops are provided to allow the residents to assess their level of readiness. The workshops are tailored to provide the current marketing conditions, identify barriers to homeownership, help potential buyers understand lending requirements, and provide information to help buyers find affordable homeownership units and down payment assistance programs. 

 What is the Next Door Homeownership Program?  

 As of June 1, 2021, Madison Park Neighborhood Development provides its residents two forms of financial down payment assistance.  Families participating in the Next Door down payment assistance may receive  

•  Up to $100,000  for home purchases in Boston  

• Up to $50,000 for purchases outside the City of Boston

Madison Park Development Corporation offers residents an individualized development account (IDA), and the IDA program will provide match savings designed to incentivize participants to save.  

 Requirements   

• Income qualification recommendation $50,000+ per year
• Down payment of 1.5% of purchase price max of 3% down payment
  
• Must be a resident of an MPDC property for at least three (3) years, in good standing.  (Resident must not be in arrears or behind on rental payments) 
• Must be a first-time homebuyer
  • has not owned a home in the last 3 years
• Must use the purchased property as a primary residence
• If selected, able to obtain a pre-approval within 30 days of selection

 To Learn More about the Next Door Homeownership Program  

Please contact LaQuisa Burke, Manager of Rental and Homeownership Programs, at Nextdoor@madison-park.org / 617.849.6334.  

UPCOMING EVENTS

Lunch & Learn: Cross Country Mortgage
Webinar Workshop: Understanding Down Payment Assistance with Eastern Bank & MPDC’s Next Door Program
MPDC’s Next Door First-Time Homebuyers Class | October 2025

Recent Updates from MPND
ASSISTANCE In Boston or Outside of Boston
Deed Restricted Units (Any Location):
$25,000 for deed-restricted affordable units (any location)

For market-rate housing in Boston, MPDC will provide down payment assistance such that a borrower receives up to $100,000 total in assistance.

Example – In Boston, up to $100,000

A borrower is not eligible for any other assistance: MPDC would contribute $100,000

If a buyer has $60,000 in other assistance, MPDC would contribute $40,000.

If a buyer within Boston has $75,000 from BHA and $20,000 from the City of Boston, MPDC would provide $5,000.

Example – Outside of Boston- UP TO $50,000

$50,000 for market-rate housing outside of Boston (assistance capped at $50,000 total, including other sources).

A borrower is not eligible for any other assistance: MPDC would contribute $50,000

If a buyer has $60,000 in other aid, the borrower is not eligible for additional MPDC assistance.

If a buyer within Boston has $20,000 from the City of Boston, MPDC would provide $30,000.

Total assistance for all funds cannot exceed $100,000 in Boston or $50,000 outside of Boston. You must disclose any other sources of down payment assistance to MPDC during your application and follow-up process.

 Homebuying resources offered at MPDC 

• Lease to Legacy Program: Building Wealth. Securing Futures. – The Lease to Legacy Program is designed to help long-term residents of MPDC rental housing move from leasing to lasting home ownership. This pilot initiative supports moderate- to higher-income residents who do not receive any housing assistance and are ready to take the next step toward homeownership, but need time and structured support to get there.

  Through a two-year rental savings and education program, Lease to Legacy participants receive personalized coaching, financial guidance, and access to savings to help them build a strong foundation for homeownership. The program emphasizes responsible planning, wealth-building, and long-term stability—ensuring residents are not just ready to buy, but prepared to thrive as homeowners.

• Homebuyer Education & Readiness Workshops – MPDC provides homebuyer readiness workshops to residents who want to learn more about the home buying process. This 1-hour workshop provides valuable information that allows residents to assess their level of readiness and provides insight into how to find affordable homeownership opportunities. To register for the next round of workshops, please find a class and register with an approved homebuying agency.
• Homebuyer Classes – MPDC offers a CHAPA-certified First-Time Homebuyer Class twice yearly. The classes provide an overview of the home buying process and information about special mortgage programs for first-time buyers. The workshops will be offered via Zoom, and pre-registration is required at Financial Education Services. MPDC will offer homebuyer courses in the Fall and Spring.
• Homebuyer Counseling Program – To address the hurdles to successful homeownership, MPDC offers a homebuyers club to MPDC and Whittier Street families. Many obstacles to sustainable homeownership, such as Poor credit histories, excessive debt, lack of funds for a down payment, and unstable employment, can keep families from reaching their homeownership dreams. Counseling and mentorship are for those six months or longer away from homeownership and will provide homebuyer support and one-to-one counseling.
•  The Homebuyer Club –These financial literacy-focused classes are voluntary and are offered once a month at various times to accommodate different schedules. Each club has approximately ten members, a trained housing counselor leading each class, and a one-year commitment for participants. Enrollees attend a one 1/2-hour class once a month. Classes are virtual, and attendees are encouraged to express their opinions, ask questions, and participate in class activities. Participants set monthly goals leading to the purchase of a home. There is no charge for the program. Contact Financial Education Associates.
• Family Self-Sufficiency – The Family Self-Sufficiency Program, commonly known as FSS, helps families increase their earnings and build financial capability and assets.  Two key features of the FSS Program: 
  • First, the FSS program offers a financial incentive for participants to increase their earnings through an escrow savings account. The escrow account helps residents build savings that they can use to advance their personal goals. Escrow Funds can be used for employment training, homeownership, or business.  
  • Second, families participating in the FSS program are eligible for Case Management or Coaching. These services can help families access services to overcome barriers and strengthen their financial capability.  For more eligibility information, residents should contact their Resident Services Coordinator directly. https://www.joinfss.org/.  

Protect Your Asset (PYA) Program

The Protect Your Asset (PYA) Program is a specialized estate planning initiative designed to help MPDC’s Next Door homebuyers protect the wealth they’ve built through homeownership. This program offers deeply discounted wills and trust services, ensuring that homeowners can safeguard their assets, clearly document their wishes, and leave a lasting legacy for their families.

Owning a home is one of the most powerful tools for building generational wealth—but without a legal plan in place, families can face unnecessary stress, confusion, and even financial loss during difficult times. The PYA Program helps residents secure peace of mind by making estate planning affordable, accessible, and culturally supportive.

·  Will Services provided by a licensed legal professional

·  $600 value available to eligible participants for just a $75 down payment

·  Full coverage of remaining legal costs by MPDC

·  One-on-one support and education throughout the process

MPND’s Preferred Lenders and Realtors 

Realtors

First time Homebuyers Resources and Programs Section

 Financial Education Associates (FEA)
First Time Homebuyers Class
https://www.money-classes.com/courses

Urban Edge Credit Repair
https://www.urbanedge.org/program/credit-counseling-boot-camp/

Massachusetts Affordable Housing Alliance (MAHA)
Stash Savings Program
Have at least $2,000 in assets, and no more than $100,000 in assets
https://mahahome.org/stash

Mass Housing Partnership
One Mortgage https://www.mhp.net/one-mortgage
One + Boston https://www.mhp.net/one-mortgage/one-plus-boston
One + Lowell https://www.mhp.net/one-mortgage/programs-2/one-lowell
One Mortgage programs https://www.mhp.net/one-mortgage/programs-2

Boston  Housing Authority (For BHA participants only)
BHA Voucher Program https://www.bostonhousing.org/en/Section-8-Leased-Housing/Voucher-Programs/City-of-Boston-Voucher-Program.aspx

First Home Program – https://www.bostonhousing.org/en/Section-8-Leased-Housing/Voucher-Programs/BHA-First-Home-Program.aspx

Mass Housing

Mass Housing Down Payment assistance https://www.masshousing.com/en/home-ownership/homebuyers/down-payment-assistance

Mass Housing Loans https://www.masshousing.com/home-ownership/homebuyers/homebuyer-loans

Neighborhood Assistance Corporation of America (NACA)
https://www.naca.com/purchase/

Interested in Madison Park Next Door?