MassWorks
Helping Employees Become Homeowner
MassWorks is an employer-assisted mortgage program that encourages employers to invest in their employee’s home purchase by matching an employer contribution with State funds. These funds are used to lower monthly payments while increasing purchasing power.

Click here for more information on how your company can join MassWorks.

The following companies currently participate in the Buy Worcester Now program. If you are employed by one of these companies, you may be eligible for additional assistance.

Assumption College
Assumption College will assist eligible, full-time employees with the purchase of their first home through a program called MassWorks. Through this mortgage program, Assumption provides a matching contribution of $2,500 combined with a $2,500 contribution from the Commonwealth of Massachusetts for a total of $5,000 additional money towards the purchase of a home n the Worcester area. Assumption College has committed $10,000 towards this program.

Clark University
Jack Foley, Vice President for Government and Community Affairs
508-793-7444
University Park Neighborhood Homeownership Incentive Program

All Clark full-time regular faculty and staff are eligible for a special incentive program if they purchase and reside in a home within a designated area in the neighborhood around the University. The program provides a $5,000 loan at the time of closing, forgivable at the rate of $1,000 per year of employment and residence, and currently for the next 7 years after the purchase, an annual payment of 12% of base salary up to $4,000. Income eligible employees may also apply for a $5,000 grant from the Commonwealth under the Mass Housing Partnership’s MassWorks Program. Some of these participating employees may also be eligible for up to $10,000 in the City of Worcester’s downpayment/closing cost assistance program, administered by the NeighborWorks HomeOwnership Center of Worcester.

College of the Holy Cross
William Conley, Director of Administrative Services
College of the Holy Cross
508-793-3391
Holy Cross-South Worcester Homeowners Initiative

Employees at the College of the Holy Cross are eligible to apply for financing for the purchase of one of the new condominiums in a 12-unit complex supported by the College and located near the campus at Hacker and Cambridge streets in South Worcester. Holy Cross offers participating employees up to $5,000 of mortgage assistance, which can be matched by the Commonwealth if the employee utilizes the MassHousing Partnership’s MassWorks Program. Some of these participating employees may also be eligible for up to $10,000 in the City of Worcester’s downpayment/closing cost assistance program, administered by the NeighborWorks HomeOwnership Center of Worcester.

Additionally, Holy Cross provides a mortgage incentive program for newly hired faculty to purchase homes in the City of Worcester.

Hanover Insurance Group
Denise B. Cataldo, HR Programs Lead
Hanover Insurance Company
508-855-2435 or empprograms@hanover.com

Hanover Insurance Company will offer a $5,000 incentive to any active, benefit-eligible employee who purchases a primary home in the City of Worcester. Employees must secure a mortgage through one of the 17 Buy Worcester Now Participating Lenders to qualify.

Worcester Polytechnic Institute (WPI)
Eric Chojnowski, HR Benefits Administrator
508-831-6677 or echojnowski@wpi.edu
The WPI HomeOwnership Program

Worcester Polytechnic Institute (WPI) will help eligible employees with the purchase of their first home (eligibility requirements include income level and years of service). Called MassWorks, this new mortgage program will increase a homebuyer's ability to buy a home in Worcester by combining a $2,500 contribution from WPI with a match of $2,500 from the Commonwealth of Massachusetts. These funds will be combined with a fixed-rate first and second mortgage from a bank, thereby lowering monthly payments and increasing the homebuyer's purchasing power.

Saint-Gobain
Kip M. Paterson, HR Director
Saint-Gobain Abrasives, North America
508-795-5338 or Kip.M.Paterson@Saint-Gobain.com

Saint-Gobain is proud to help eligible employees (active & full-time) with the purchase of a home in Worcester. Called MassWorks, this new mortgage program will increase a homebuyer's ability to buy and live in a Worcester home by combining a $2,500 contribution from Saint-Gobain with a $2,500 match from the Commonwealth of Massachusetts. These funds will be combined with a fixed-rate first mortgage from a bank, thereby lowering monthly payments and increasing the homebuyer's purchasing power. Saint-Gobain has committed $50,000 in total to this exciting community initiative.

UMass Memorial Health Care
Bell Hill-East Side Employer-Assisted Homeownership Initiative

Interested Parties should contact:
NeighborWorks HomeOwnership Center of Worcester
674 Main Street, Worcester, MA 01610
508-791-2170

If you are an employer that is interested in providing this mortgage product to help recruit and retain employees, please click here.