Are you a first time homebuyer but you don't have the down payment required? MassHousing is pleased to offer down payment assistance to eligible homebuyers!
For qualified borrowers, MassHousing now provides down payment assistance for up to 3% of the purchase price or $12,000, whichever is less.
Features & Requirements
- Down payment assistance is a 15-year, fixed rate loan at 1% (Example: $10,000 down payment assistance loan equals 180 paymets of $59.85; 1.015% APR)
- Repayemnt of the down payment assistance is also due upon the sale or refinance of the property prior to the end of the 15-year term.
- Borrowers must be first-time homebuyers and income cannot exceed 100% of the area median income which varies by region. Other eligibility criteria apply. Down payment assistance is available on single-family homes, condominiums and Planned Unit Developments.
For current rates or additional information about home buying options at North Shore Bank, call Customer Support at (978) 573-1300 (during normal operating hours) or reach out directly to any of our mortgage originators.
Need to know how much you can afford? Try out one of our convenient mortgage calculators.
North Shore Bank regularly hosts First Time Homebuyer sessions with our friends at Coastal Homebuyer Education. For a complete schedule of upcoming seminars, CLICK HERE.