MASS HOUSING
MASS HOUSING
Mass Housing is an option that I think some people overlook. They have great rates and many little nuances for
a loan that may not be able to go FHA.
Down payment can be as little as 3% on a single family and condominium.
Mortgage insurance is cheaper than FHA and there is no upfront mortgage insurance. There is also
an option for 1 time payment of MI- seller or lender paid.
There are income limitations and the client must owner occupy the property, and
also cannot own any other property.
Homebuyer counseling is required for all first time homebuyers and Landlord counseling for 2,3 and 4 family unit purchases.
Another awesome feature is that they will do up to a $7500 holdback.
Maybe the home needs to be painted - and we all know that's not going to happen around here in February.
This is a great option to keep in mind.
Mass Housing also offers no cost mortgage payment protection insurance included with MI Plus.
If you have any questions regarding Mass Housing, please call me and we can discuss.
Wendy Burdett
Prospect Mortgage
1393 Grafton St
Worcester, MA 01604
(508) 380-7697
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