Access Low-cost Loans through HAPHousing
HAPHousing can help you access a variety of low-cost or specialized home financing through these programs:
The Soft Second™ Loan Program gives first-time homebuyers increased purchasing power through two mortgages – a conventional first mortgage and a subsidized second mortgage.
Dividing a mortgage obligation into two parts reduces the first mortgage amount and allows participating homebuyers to avoid private mortgage insurance, thereby decreaing their monthly expenses. The subsidized second mortgage does not need to be repaid until the home is sold.
Soft Second loans are available through HAPHousing and participating lenders. Download a fact sheet or call 413-233-1615 for more information. For more specific information on the Soft Second loan program and an easy-to-use calculator, visit the Massachusetts Housing Partnership website.
The Massachusetts Housing Finance Agency (MassHousing) also offers special low interest, fixed rate mortgages. Go to www.masshousing.com for more information.
Low-cost financing to address lead-based paint hazards is available for one- to four-family homes through MassHousing. Owner-occupants may be eligible for a 0% deferred payment loan that is due only upon the sale, transfer or refinancing of the home. Call 413-233-1615 or visit the MassHousing website for more information.