PITTSFIELD — First-time homebuyers in Massachusetts can now access up to $25,000 in state assistance to cover down payments, as officials roll out a new program aimed at lowering one of the biggest barriers to homeownership.

The program, launched Tuesday by MassHousing and announced by Gov. Maura Healey, offers no-interest, deferred loans to help buyers reduce upfront costs and lower their monthly mortgage payments.

Officials say the initiative could help about 1,000 residents statewide purchase their first homes, with $25 million allocated for the effort.

The program is going to "dramatically increase the number of people across Massachusetts who are able to buy that first home," Healey said.

The assistance — which is accepting applications now through July 31 — provides up to $25,000 per buyer. Because the loans carry 0 percent interest and are deferred, borrowers do not repay them until they sell or refinance their home.

To qualify, applicants must secure a mortgage through MassHousing, purchase the home as their primary residence, and earn no more than 135 percent of the area median income — $140,130 for a family of four in Pittsfield.

In a housing market where prices continue to climb, even modest assistance can make a significant difference. The average home in Pittsfield sold for $355,788 in early 2026. A buyer financing that amount with a 30-year mortgage at 6 percent interest would pay about $2,459 per month with no down payment. Applying the full $25,000 down-payment assistance could reduce that monthly cost to roughly $2,154.

The average first-time homebuyer puts about 10 percent down, which would be $36,000 for the average home in Pittsfield, according to NerdWallet. However, buyers who have already bought a home put down 23 percent.

Housing officials say programs like this are critical to closing the wealth gap between renters and homeowners. The average homeowner has a net worth of about $400,000, compared with roughly $10,000 for renters, according to state data.

“Even for families who can afford a monthly mortgage,” said Housing Secretary Juana Matias, “the upfront cost of buying a home can still keep the door closed.”