MASSACHUSETTS HOUSING PARTNERSHIP (MHP)

SOFTSECOND™ LOAN PROGRAM

• Must be a first time homebuyer
• Complete an accepted homebuyer training course
• Be within the household income eligible guidelines
• Low Interest Rate
• No Points
• No Private Mortgage Insurance (PMI)
• Homebuyers must put down 3%
• Offered through your local lender

Contact: Deborah Clarke, Outreach and Processing
Coordinator
Telephone: 617-330-9944 Ext. 230
Website: www.mhp.net

MASSHOUSING

MASSADVANTAGE™

• Must be a first time homebuyer
• Must meet income and purchase price limits
• Complete and accepted homebuyer training course if making a down payment of less than 5% or if you are purchasing a 2-4 family home.
• Minimum down payment of 3% required, low interest rate
• Offered through your local lender

Telephone: 888-627-7562
Website: www.masshousing.com

TRANSIT ORIENTED HOME MORTGAGE LOANS

• Mortgage program for regular mass transit riders who buy homes near public transportation.
• Loans are 30-year, adjustable-rate mortgages
• Interest rates below those of fixed-rate mortgages
• Zero points
• Rates are locked for at least the first five years
• Interest rate caps restrict the amount by which rates may increase after the fixed portion of the loan is completed.
• Offered through your local lender

Telephone: 888-627-7562
Website: www.masshousing.com

MUNICIPAL MORTGAGE PROGRAM

• Specifically designed to help public servants buy a home in the city or town were they work.
• Available to the following full-time salaried populations: Municipal employees, State and county employees in the fields of public safety, law enforcement, education, social services and health care, employees of non-profit organizations in the fields of public safety, law enforcement, education, social services and health care.
• 97% financing (a 3% down payment is required)
• Available for 2-, 3- and 4-family properties

Telephone: 888-627-7562
Website: www.masshousing.com

MASSADVANTAGE™ PURCHASE AND REHABILITATION PROGRAM

• First-time home buyers purchasing a home in need of major repair
• Must meet income and purchase price restrictions
• May be used to cover both the purchase price of a home plus necessary rehabilitation costs
• Loans are available for 1- to 4-family properties and are made through approved lenders
• Maximum loan amount may not exceed 97% of the sales price plus rehabilitation cost or the estimated appraised value after rehabilitation, whichever is less
• Licensed contractors must complete all rehabilitation work
• Offered through your local lender

Telephone: 888-627-7562
Website: www.masshousing.com