Low Down Payment Mortgages in Massachusetts

Mortgage and Lending with SARA Mortgage

Low Down Payment Mortgages in Massachusetts

Your first step for purchasing a home is to get approved for a mortgage. This will give your Real Estate Agent the ability to show you homes in your price range.


To find out about Low Down Payment Mortgages in Massachusetts it important that you work with a Loan Originator that has the experience and knowledge to qualify you with the different programs that are available in today's market. My function will be to make you aware of the products you qualify for so you can make an educated decision on the mortgage that fits you financial needs.

Here are some of the low down payment mortgages in Massachusetts you might qualify for:


Home Path Program

Only Homepath Properties are Eligible (for owner occupied only)

No Appraisal required

No MI required

3% Down payment can be a gift

Credit Score is 660 to go to 97% Loan to Value

Fannie Mae 97%

3% from borrower own funds

Monthly and split MI available

Min 720 Credit Score Required

Maximum Debt to Income is 41%

3% seller concessions allowed to closing costs

FHA 96.5%

Non occupant co-borrower are allowed

3.5% down payment can be a gift from a family member

6% seller contributions to closing costs

Minimum credit score 600

203K Streamline FHA

3.5% down payment can be a gift

Finance non structural repairs/improvements up to $35,000

Minimum Credit Score 640

USDA 100%

Maximum Debt to Income Ratio is 45%

Minimum Credit Score 640

No Monthly PMI

Roll in closing costs up to Appraised Value of Property

Geographic and Income Restrictions

VA 100%

Funding fee determined by veteran status, can be financed

Borrower must be a veteran or currently in the military

No Monthly PMI

Minimum 620 Credit Score Required




 You can see there are quite a few choices for you to get an low down payment mortgage in Massachusetts.



I will need to look at your financial documentation to see what low down payment mortgage in Massachusetts you qualify for.  The three important qualifications are your credit scores, your work history and how much earnings you can show. Once I get that information I will be able to fit you into what mortgages that you qualify for. I will be able to tell you the benefits of each and then allow you to make the decision on what mortgage fits your financial needs.

I can also work with you as a home buyer in Massachusetts. If you are not quite ready to purchase I can offer advice to put you in a better position to buy when the time is right for you to purchase. I have worked with many of my clients and now they are in their home. I can also offer you a referral of a Real Estate agent that will find you a great home for a fair price. As a team we can work together to make your home buying a nice experience.

Please give me a call. There is no obligation. I will be glad to discuss your options. You can take advantage of my many years experience to understand your buying situation.

Dan Casale (603)560-0417


NMLS #20240

SARA Mortgage & Financials LLC NMLS #1340

Comments (2)

Mike Pellet
Fullerton, CA

I don't think Homepath properties are a good deal for buyers.  There is a reason Fannie doesn't require an appraisal on these properties.  They know their inflated price can not stand up to an appraised value.

May 05, 2011 02:55 AM
Daniel Casale
SARA Mortgage - Hampstead, NH

Hi Mike:

You have to do the research on the properties that are listed in Homepath. I know some of my clients received excellent deals usingthis program. Once you check to see if the price is fair then the program has significant benefits


May 05, 2011 03:06 AM