The Borrower’s Assistance Program (BAP) is a program administered by the Holyoke Housing Authority that can help first-time buyers who are purchasing a home in Holyoke with downpayment/closing cost expenses.
- To be eligible for assistance the borrower must:
- Be income eligible-not make more than 80% of the area median income.
- Be a first-time homebuyer-have not owned a home within the past three years
- Be purchasing a single family home in the city of Holyoke
- Have completed an approved first-time homebuyer education workshop series
- Be in need of BAP assistance in order to purchase a home
If the borrower remains in the home for five years the loan is forgiven.