Mass Housing


MASSHOUSING MORTGAGE


Put simply, the MassHousing Mortgage offers competitive interest rates with low downpayment options. This affordable loan from the state’s affordable housing bank is just right for first-time homebuyers as well as those looking to move up or
refinance. With its flexible underwriting and fixed rate financing, it’s the perfect mortgage loan for low- and moderate income households. Want more information on Mass Housing loans? CONTACT ME

 

Features


• Up to 97% financing with no cash required on single family homes and condos
• Maximum income limits as high as $120,825 (varies by city or town)
• MI Plus™ mortgage insurance helps pay the mortgage in case of job loss
• Affordable loan limits
• Purchase & Rehab option available to first-time buyers
• Approved community second mortgages allowed
• 30-and 60-day rate locks available
• Conventional appraisal guidelines
• Non-traditional credit allowed

Advantages


• Competitive interest rates
• Low monthly payments
• Low mortgage insurance coverage requirement
• Up-front third-party-paid mortgage insurance premiums available – eliminating borrower’s monthly mortgage                 insurance payment
• Safe, fixed-payment, limited cash-out refinance options
• Quick underwriting decisions made by lenders overseen by MassHousing
• No risk-based loan pricing adjustments or mortgage insurance premium adjustments

Benefits


• One fixed monthly payment for the life of the loan
• Borrower’s principal and interest payments, up to a maximum of $2000 per month, are covered for up to
six months if they become unemployed (if the loan carries mortgage insurance)
• Loan payments made to MassHousing, a customeroriented service provider
• MassHousing is a lender you can trust
TEL: 617.854.1000 VP: 866.758.1435
www.masshousing.com
 

 


 

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