MassHousing Programs

North Shore Bank is committed to the cities and towns it serves and strives to make homeownership a reality for low to moderate income borrowers. That’s why we’ve partnered with MassHousing to offer a number of affordable mortgage programs.

MassHousing LogoMassHousing is a self-supporting not-for-profit public agency that has provided more than $27 billion in financing to homebuyers, homeowners, developers and owners of affordable rental housing. Founded in 1966, MassHousing does not use taxpayer dollars, but sells bonds to fund its programs and mortgages. The proceeds of these sales are then advanced through a network of approved lending partners — organizations like North Shore Bank.

MassHousing Workforce Advantage 3.0  

  • Max LTV/CLTV – 95%/105%
  • Owner occupied primary residence
  • No mortgage insurance cost paid by borrower
  • 1-2 unit properties
  • Deferred DPA loan provided by MassHousing
  • No points
  • Income limits apply
  • Homebuyer certificate required
  • Landlord counseling required on 2 unit properties
  • Lender credit $500*
  • Service members/veterans receive a MassHousing credit of $2,500
  • Subject to credit approval

MassHousing Conventional First-Time Homebuyer

  • Owner Occupied Primary Residence
  • 1 unit & Condos LTV – 97% - 105%
  • 2-4 Units LTV – 95% - 105%
  • Homebuyer certificate required
  • Landlord counseling required on 2-4 unit properties
  • No points
  • Income limits apply
  • Lender credit $500*
  • Service members/veterans receive a MassHousing credit of $2,500
  • Subject to credit approval


* If you attend one of our First-Time Homebuyer seminars provided by Coastal Homebuyer Education, we will increase the lender credit to $750. Offer is subject to credit approval and is only eligible for residential mortgage products originated at North Shore Bank, excluding Home Equity Lines and Loans.


For current rates or additional information about home buying options at North Shore Bank, call Customer Support at (978) 573-1300 (during regular operating hours) or reach out directly to any of our mortgage originators.

Find out now about your home buying options and get prequalified for a mortgage at NSB
before you begin the application process. Get prequalified today!
 
Need to know how much you can afford? Try out one of our convenient mortgage calculators.