09/21/2022
Hey friends! I have an exciting new program for FIRST TIME HOMEBUYERS
Let me know if you are interested!
https://www.mhp.net/one-mortgage/massdreams
MassDREAMS (Delivering Real Equity and Mortgage Stability) is a federally funded grant program designed to provide eligible first-time homebuyers who currently reside in a Disproportionately Impacted Community with up to $50,000 in down payment and closing cost assistance for the purchase of a primary residence anywhere in the Commonwealth of Massachusetts.
To be eligible for MassDREAMS grant with a ONE Mortgage you must:
Be a current resident of one of the following 29 communities:
Attleboro, Barnstable, Boston, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Framingham, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Randolph, Revere, Salem, Springfield, Taunton, Westfield, Worcester
Be a first-time homebuyer. This means that you have not owned a home at any point in the last three years.
Take a homebuyer class. This class will help you get ready for the home buying process.
Meet our down payment requirements. We require a 3% down payment to buy a condo, single-family home, or two-family home. At least 1.5% of the purchase price must be from your own savings. For a three-family property, we require a 5% down payment with at least 3% from your own savings.
Have a total household income under our limits. Our income limits vary by community and the number of people in your household.
Have less than $75,000 in total household assets. This includes any checking accounts, savings accounts, stocks, or bonds. But it does not include most retirement (401k, 403b, 457, traditional IRA) and college savings accounts.
Meet our credit score limits. Your credit score must be at least 640 to buy a single-family or condo and at least 660 to buy a two/three family home. We also have options for people who don’t have any credit history.
Agree to live in the property as your primary residence. If you stop living in the property, you must refinance out of your ONE Mortgage.
August 18, 2022 BOSTON --- MHP will hold nine interactive webinars focused on MBTA zoning and how communities can design districts that meet their needs and comply with the new law.
