MassHousing Programs
An affordable paths to homeownership starts here.
Explore affordable mortgage options designed to help qualifying Massachusetts residents buy a home with confidence.
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MassHousing Program
Take the next steps in owning a home in MA. Helping low- to moderate-income MA residents become homeowners. Featuring low and no down payment options.
- Fixed-rate loans
- Flexible underwriting
- Affordable interest rate
- Available for condos and 1-4 family homes
- Purchase or refinance available
- Choose with or without mortgage insurance
- Mortgage loan and income limits apply
MassHousing Down Payment Assistance (DPA)
Saving for a home can be a challenge! $30,000 or $25,000 in down payment assistance paired with a MassHousing mortgage loan can help you become a homeowner faster.
To be eligible for Down Payment Assistance from MassHousing, you must...
- be an income-eligible first-time homebuyer.
- purchase a single-family home, condominium, or2-, 3- or 4-family property that will be your primary residence.
- paid Down Payment Assistance with an affordable MassHousing Mortgage loan to purchase your home.
- be purchasing a home in Massachusetts.
Quick questions? We're here. Connect with a Mortgage Specialist in the Digital Branch.
MIPlus Mortgage Payment Protection Benefit
MIPlusTM helps pay your mortgage if you lose your job. Available at no additional cost to eligible borrowers on loans insured by MassHousing.
About Mortgage Insurance (MI)
Mortgage insurance helps people buy a home with downpayments of less than 20% of the purchase price. Traditionally, MI is paid for by the borrower but only protects the lender in cases when the loan is not repaid.
MIPlusTM from MassHousing is different
Should you lose your job, MIPlusTM will pay your monthly principal and interest payments up to $4,000 per month for up to six months.* This unique benefit is offered on all loans insured by MassHousing, at no additional cost to the borrower. It helps our borrowers get back on their feet when faced with unemployment. It provides them confidence, security and peace of mind, knowing that losing their job won’t mean losing their home.
MIPlusTM Benefits
While not all MassHousing loans require mortgage insurance, those that do....
• Require Lower Coverage Coverage required by MassHousing is typically less than that of conventional loans
• Have Flexible Payment Options Can be paid monthly or as a single premium
Get guidance. Chat with a Mortgage Specialist.
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Programs, rates, terms and conditions subject to change without notice. All loans are subject to credit approval. Credit Union membership is required; members must maintain a membership account with a minimum of $5.00.
*The amount of benefit paid will depend on the date the borrower applied for the mortgage loan, the number of borrowers listed on the loan and the share of the unemployed borrower’s income used to apply for the mortgage. Eligible borrowers are those who are unemployed, defined as the receipt of unemployment benefits from the Massachusetts Department of Unemployment Assistance (DUA). Terms and conditions apply.