Homeowner Stabilization Program - Round II

Applications are accepted on a rolling basis until all funds are exhausted.

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The City of Chelsea’s Homeowner Stabilization Program is available to homeowners of single to four-family homes who are struggling to receive rental income or pay their mortgages and utilities, due to the impacts of COVID-19. 

Homeowners may be eligible to receive up to $10,000 in assistance towards your mortgage, utilities, and recuperating unpaid rent from tenants. The total amount of funding an applicant is eligible for is dependent upon the number of units within the household. Please note homeowners must currently reside within the property.

Single-family The maximum grant amount will be equivalent to three (3) months of eligible housing costs or $5,000, whichever is less
Two-family The maximum grant amount will be equivalent to three (3) months of eligible housing costs or $8,000, whichever is less.
Three and four-familyThe maximum grant amount will be equivalent to three (3) months of eligible housing costs or $10,000, whichever is less.

The Program consists of direct grant funding, for income-eligible homeowners. The grant will not need to be paid back, contingent upon the homeowner continuing to reside in the property as their principal residence for two years, and will not accrue interest. If within the two (2) year period, the homeowner sells or refinances (cash-out only) the home, then a pro-rated share of the grant will be payable to the City. In year one, 100% of the grant will be payable during a sale or cash-out refinancing. In year two, 50% of the grant will be payable.

Online Application: 

Program Eligibility Criteria

The City of Chelsea’s Homeowner Stabilization Program primarily serves low-or moderate-income households. Eligible applicants may qualify for funding if their annual gross household income is at or below 100% of the Area Median Income, as set forth by the U.S. Department of Housing and Urban Development for the Boston-Cambridge-Quincy-NH FMR Metro Area.

Household Size100% AMI Moderate Income80% AMI Low Income
1$83,300$66,650
2$95,200$76,200
3$107,100$85,700
4$119,000$95,200
5$128,550$102,850
6$138,050

$110,450