This home ownership incentive program is focused on proliferating owner-occupancy of multi-family housing in the City of Chicopee. The program is specific to the purchase and occupancy of legal three-family structures.
• $16,000.00 no interest loan from the City of Chicopee applied toward the down payment or closing costs on a multi-family property within the City
• Annual forgiveness of $1,000.00 of loan granted for sixteen years provided that owner continues to occupy property as primary residence and maintains condition
Compliance Requirements for Accessing Multifamily Loan Program: