Affordable and First-Time Homebuyer Programs

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MassHousing Loans

Monson Savings Bank is proud to partner with MassHousing to provide affordable mortgage financing options to first-time and repeat homebuyers. Our MassHousing Loans are aimed at assisting our Massachusetts neighbors to achieve their dream of homeownership. Income and other restrictions apply.¹

Features:

• Down Payment Assistance for up to $30k for qualified income-eligible first-time homebuyers
  
  
• Mortgage Insurance with expanded benefits to cover housing expenses in the event of job loss²
  
  
• Affordable fixed interest rates with various repayment terms available
  
  
• Flexible underwriting and income limits to support qualifying more MA families

Monson Savings Bank also offers additional MassHousing to support existing homeowners, including:

• Septic Repair Loans 
• Energy Saver Home Loans 
• Home Improvement Loans 

¹Maximum income limits apply. First-time home buyer class and landlord counseling required, if applicable. FICO score minimum as low as 640. Each of the programs available have other restrictions that may apply. Contact us for more information.

²MI Plus™ borrower protection is included with MassHousing loans at no additional cost. MI Plus™ pays a borrower’s principal and interest for six months (up to $2,000/month) if they become unemployed.

{openTab} Our experienced, knowledgable and friendly Residential Lenders are ready to help you meet your home financing goals.