Mortgage Loans, Down Payment Assistance & Homebuyer Benefits
Every year, thousands of homebuyers choose MassHousing's affordable mortgage loans with down payment assistance to buy a home in Massachusetts. MassHousing may be able to help you, too!
Down Payment Assistance
Up to $50,000, only available with a MassHousing loan
Saving for a down payment is one of the biggest obstacles facing homebuyers. That's why MassHousing provides first-time homebuyers with down payment assistance of
- Up to $50,000 in Boston and 28 select communities
- Up to $30,000 in every city and town in Massachusetts
Down Payment Assistance from MassHousing
- May be used in combination with other local down payment and other assistance programs, such as the Federal Home Loan Bank Equity Builder
- Is continuously funded. We won't run out of money for down payment assistance!
MassHousing Mortgage Loans
Straightforward, affordable home financing
MassHousing Mortgage loans are designed to increase your buying power and help you succeed as a homeowner. Every MassHousing Mortgage comes with
- Affordable interest rates, fixed for the life of the loan
- No hidden fees or surprises
We offer Conventional loans and FHA financing.
Depending you where you're buying, the type of property and other factors, you may be eligible for a number of different mortgage options!
And unlike many other lenders, MassHousing will be with you for the long term, so if you ever have a question or concern about your mortgage, you'll know who to call.
Learn more about why first-time homebuyers choose MassHousing.
More flexible income and credit score requirements mean more Massachusetts homebuyers may be eligible for a MassHousing Mortgage. See if a MassHousing Mortgage might be right for you!
MIPlus Job-Loss Protection
Mortgage insurance that gives homeowners peace of mind
Typically, mortgage insurance is paid for by the borrower but only protects the bank.
But MassHousing offers Mortgage Insurance with MIPlus, a unique benefit that helps our borrowers pay their mortgage for up to six months, up to $2000/month, if they lose their job.
MIPlus mortgage payment protection benefits are available at no additional cost on loans insured by MassHousing.
Even more options
$2,500 Closing Credit for Veterans and Service Members
Members of the National Guard or Reserves, active-duty military, veteran or Gold Star Families may be eligible for a $2,500 closing cost credit!
Purchase and Renovate with One Loan
MassHousing financing may be used to cover the cost of both purchasing and renovating a home.