We're committed to making home ownership a reality for borrowers of all income levels, that's why we've partnered with MassHousing to offer affordable mortgage options. The MassHousing Mortgage offers competitive rates, low down payment options and two different PMI options to help create affordability and increase buying power. The two PMI options available are PMI paid by the lender (LPMI) or borrower paid (BPMI).
Features and Benefits:
- Purchase or refinance
- Choose with or without private mortgage insurance
- Competitive fixed rate loans
- Low down payment
- Financing for owner-occupied 1-4 family homes and condominiums
- Appraisal fee refunded at closing for first-time homebuyers; Home counseling certification required
- As little as 3% down on single family homes and condos
- One fixed monthly principal and interest payment for the life of the loan (escrowed insurance and taxes may change)
- Loan payments are made to MassHousing, a Boston based customer-focused service provider
You Choose the Mortgage Insurance
The MassHousing Mortgage offers competitive interest rates, down payments as low as 3% and two different PMI options to help create affordability and increase buying power. The MassHousing Mortgage is available with mortgage insurance (MI) that can be paid by either the lender (LPMI) or the borrower (BPMI) option, both meant to help buyers with less than a 20% down payment. Any one of these choices offered by MassHousing, the State's Affordable Housing Bank, is just right for a first time homebuyer or those looking to move up or refinance. With flexible underwriting and fixed-rate financing, a MassHousing Mortgage is the perfect loan for low and moderate income households. To learn more about the MassHousing Mortgage, and get useful homebuying information, borrowers should visit www.masshousing.com.
Please contact one of our Mortgage Loan Consultants at 800-939-9103 for additional information!