Buyer Resources
Buying a home in Massachusetts, step by step
Run your numbers, learn how a Massachusetts purchase works from offer to keys, and see the programs that can help first-time buyers. When you’re ready, I’ll walk you through every step.
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The 7 steps of a Massachusetts purchase
1. Get pre-approved
A lender reviews your income, credit and savings and tells you what you can borrow. Sellers expect a pre-approval letter with every offer. I recommend Shant Banosian, Rate (NMLS #7206): (617) 827-6674. Tell him Rose said to call!
2. Sign a buyer agreement with your agent
Since August 2024, buyers sign a written agreement with their agent before touring homes together. It spells out the services you’ll get and how your agent is paid, so there are no surprises. I’ll go over every line with you.
3. Tour homes and make an offer
In Massachusetts your first written step is the Offer to Purchase, usually with a small deposit. Once the seller signs it, it’s a binding agreement, so the terms matter. I’ll help you write an offer that’s strong and still protects you.
4. Home inspection (and lead paint, septic and more)
A licensed home inspector checks the structure, roof, systems and more. For homes built before 1978, sellers must give you the Massachusetts Property Transfer Lead Paint Notification, and you can have a lead inspection. If the home has a septic system, the seller provides a Title V report. I recommend Tiger Home Inspection: 1-800-62-TIGER (628-4437). Tell them Rose said to call!
5. Purchase and Sale Agreement
The P&S is the detailed contract, usually signed a couple of weeks after the offer, with a larger deposit held in escrow. Your attorney reviews it and sets the mortgage contingency date. I recommend Elliot Ralton, Ralton Law Group: (508) 697-1445. Tell him Rose said to call!
6. Appraisal and mortgage commitment
Your lender orders an appraisal, finishes underwriting and issues the mortgage commitment. Meanwhile, lock in home insurance and avoid new debt or job changes until closing.
7. Final walk-through and closing
We walk through the home right before closing. At the closing you sign the loan documents, the deed is recorded at the Registry of Deeds, and you get the keys.
Buyer closing costs in Massachusetts
Plan on roughly 2% to 5% of the purchase price on top of your down payment, depending on your loan and the town. Typical items:
- Lender fees, appraisal and credit report
- Your attorney’s fee and the lender’s attorney (closing) fee
- Title insurance for the lender, plus an optional owner’s policy (recommended)
- Registry of Deeds recording fees for the deed and mortgage
- Prepaid property taxes, homeowner’s insurance and interest, and escrow deposits
- Home, lead paint, radon or pest inspections you choose
Your lender gives you an official Loan Estimate within three business days of applying, so you’ll see real numbers early.
First-time buyer programs
- MassHousing: first-time buyer mortgages and down payment assistance for eligible buyers. masshousing.com
- MHP ONE Mortgage: low down payment and no PMI for income-eligible first-time buyers. mhp.net
- Town and city programs: many communities offer down payment or closing cost help. Ask me about your town.
- Homebuyer education: most programs require a first-time homebuyer class; many are online and take a weekend.
Program rules and income limits change, so your lender will confirm what you qualify for.
Protect your equity: the Homestead Declaration
Every Massachusetts homeowner automatically gets $125,000 of homestead protection on their primary residence. Recording a Declaration of Homestead at the Registry of Deeds raises that protection to up to $1,000,000 under the 2024 Affordable Homes Act. Your attorney can file it at closing.
This page is general information, not legal or tax advice. Please confirm the details for your purchase with your attorney and lender.
Ready to start looking?
Rosemary Kelleher, Realtor®
Helping People Make Smart Moves in Real Estate for 30 Years
Direct/Text: 781-248-6069