We have a variety of options to finance your new home.
We know you have many choices when it comes to getting a mortgage. We offer affordable mortgage solutions, an online mortgage process and the added bonus of experienced, mortgage professionals to help you every step of the way.
When you’re ready, we’re here to help.
With fixed and adjustable-rate options, a lower down payment and additional resources, our Affordable Housing Program will help get your family into a house you can proudly call home.
Are you are interested in buying a home in need of repair and would like to make updates or improvements before moving in? A MassHousing Mortgage with Rehabilitation can help you purchase and rehabilitate a property or refinance and rehabilitate your current home with a single monthly mortgage payment that is easier to manage over the life of the loan.
Residential Land Mortgages
Have you found the perfect piece of land for your home, but aren’t ready to build? We offer a variety of residential lot loan programs to help you obtain the affordable financing you need for the purchase of land.
A jumbo mortgage is a loan designed to finance higher-priced homes that exceed the conforming loan limit set by the Federal Housing Finance Agency (FHFA) for a given area.
2021 FHFA limits for Massachusetts and Rhode Island are $548,250 to $822,375 depending on the County.
Once your construction schedule is prepared, we will offer you the funds needed to finance construction on your property, whether it's your primary or secondary residence.
Are you ready to own a home but not quite ready for the costs associated with buying one? Our Affordable Housing Program (AHP) is tailor-made for your needs. Designed for low- and moderate-income individuals who haven’t owned a primary residence in at least three years, AHP makes it easier to afford homeownership. The program applies to single- and multi-family homes within target areas of Massachusetts and Rhode Island and features:
- Fixed or adjustable-rate mortgage loan
- Lower down payment requirements
- Discounted private mortgage insurance (PMI)*
- Closing costs assistance
- U.S. Department of Housing & Urban Development (HUD) approved Home Ownership Counseling Program*
*PMI and HUD counseling is required. Approved housing agencies such as Pro-Home Inc along with other HUD-approved counseling agencies can provide the First Time Homebuyer training. For a list of HUD and Mass Housing-approved counseling providers please refer to the MassHousing website. Click here for more information on HUD income limits.
We’re proud to offer these affordable housing programs in cooperation with MassHousing Finance Agency. MassHousing loans feature low down payments and discounted private mortgage insurance (PMI) to make home buying in Massachusetts as affordable as possible.
For buyers of homes needing extensive repairs, the agency’s Purchase and Rehabilitation Mortgage provides financing up to 97% of the purchase price plus improvements.
All municipal employees qualify for MassHousing loans regardless of prior homeownership.
Visit the Massachusetts Housing website for a list of HUD and MassHousing approved counseling providers.
If you are considering constructing a property for your primary or secondary residence, our construction permanent mortgage may be right for you. This mortgage allows for a construction period of up to twelve months and funds are released based on a construction schedule.
- Interest-only payments on the amount of money disbursed during the construction period
- One closing for the construction and permanent financing
- A percentage of land value may release at closing
- Financing with or without Private Mortgage Insurance is available based on loan-to-value (LTV)
- Financing available for modular homes
Watch our construction loan video below. We'll guide you step-by-step through the entire construction financing process in simple terms.