Security Center Alerts
Getting the Lowest Mortgage Rate
In the past several years, mortgage rates have risen from record lows to the highest in decades. High rates and high housing prices are a tough combination for potential homebuyers ...
MASSDREAMS GRANTS CAN BE USED FOR:
- Downpayment
- Closing costs/pre-paids
- Rate buydown
- Pre-payment of Mortgage Insurance
- Single family, condo, and 2-4 unit properties
MASSDREAMS GRANT REQUIREMENTS:
- Current residents of the following communities are eligible: 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. and Worcester - Requires documentation of current residency
- No restrictions on where you purchase in the state of Massachusetts
- Income restrictions
- Up to $50,000 if AMI (Area Median Income) is under 100
- Up to $35,000 if AMI (Area Median Income) is between 100.01% to 135%
- Home buyer counseling required
- Grant does not require repayment
- Only available through eligible lenders
- Open to first-time Homebuyers only
- Single family, condo, and 2-4 unit properties
Articles of Interest
Understanding VA Loans
VA loans are issued by private lenders but guaranteed by the U.S. Department of Veterans Affairs (VA). They are available to active-duty service members, eligible veterans, and ...
What Is a Jumbo Loan?
Jumbo loans, or jumbo mortgages, are designed for financing properties that exceed the loan limits set by the Federal Housing Finance Agency (FHFA) for conventional mortgages ...