Page 18 - BusinessWest May 11, 2026

A Leg Up to Homeownership
Racial Wealth Gap Partnership Invests $1.5 Million in STASH Program
The Racial Wealth Gap Partnership at the Boston Foundation recently
announced it is making an initial investment of $1.55 million in the Massa-
chusetts Affordable Homeownership Alliance’s (MAHA) STASH Program.
The investment was made in collaboration with the MassMutual Founda-
tion and the Boston Foundation’s donors and is the second from the Wealth Gap
Partnership’s Down Payment Assistance Program. The pro-
gram provides funding to housing organizations to create new
or build upon existing down payment assistance efforts that
create wealth by expanding homeownership in underserved
communities.
MAHA’s STASH (Saving Toward Affordable and Sustainable
Homeownership) First-Gen Home Program is a groundbreak-
ing matched savings and education program that provides
first-generation, first-time homebuyers in Massachusetts with
down payment assistance and financial literacy and homebuyer
education.
Nearly 400 STASH participants have purchased homes since
MAHA launched the program in 2019. The funds will be used
to expand the program’s reach to all cities and towns through-
out the state, with a goal of eventually catalyzing $5 million in
investments to the program in the coming years. The partner-
ship projects this will allow the STASH program to provide matched savings to
more than 200 households seeking to become homeowners.
“MAHA’s track record of coupling critically needed financial assistance with the
education to find and maintain affordable homeownership opportunities aligns
perfectly with the partnership’s goal of expanding intergenerational wealth through
homeownership,” said Lee Pelton, president and CEO of the Boston Foundation.
“Thank you to all of the partners who are making this investment possible and
available for prospective homebuyers across Massachusetts.”
“At MAHA,” added Symone Crawford, executive director of the Massachusetts
Affordable Homeownership Alliance, “we are committed to making homeowner-
ship achievable for first-time and first-generation families. This investment in the
STASH program helps us scale a proven model that builds financial capacity and
long-term stability. Thank you to the Boston Foundation and the Wealth Gap Part-
“MAHA’s STASH program has a demonstrated record of
giving homebuyers the financial and educational sup-
port they need to navigate the purchase process and
begin building equity for long-term wealth./We are
pleased to help make it possible for STASH to expand
and enhance homeownership opportunities for families
throughout Massachusetts.”
DENNIS DUQUETTE
nership for affirming this work through this investment.”
Launched in 2019 with a seed investment from Boston Children’s Hospital, the
STASH program contains two main components: the provision of eight hours of
financial literacy and homebuyer education and up to $20,000 in matched savings
for program graduates to use for down payment and closing cost assistance.
“MAHA’s STASH program has a
demonstrated record of giving home-
buyers the financial and educational
support they need to navigate the pur-
STASH
Continued on page 19 >>
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