Posted on June 27, 2016
BOSTON --- The National Homeownership Month celebration continues as MHP recognizes its key lenders and nonprofit partners. Today, we salute Neighborhood of Affordable Housing (NOAH) of East Boston, a longtime support of 1st-time homebuyers and ONE Mortgage.
So far in FY 2016, NOAH has provided pre-purchase, first-time homebuyer education to 28 ONE Mortgage homeowners. The average income of the ONE borrowers NOAH has served is $71,188.
Located in East Boston, NOAH provides a variety of services to the residents of East Boston as well as developing multi-family housing in the city and across metro Boston. For more information on their impact, go here .
Thank you NOAH for your continuing commitment to Massachusetts first-time homebuyers and the ONE Mortgage Program.
About ONE Mortgage: Prosperous families. Stable and secure neighborhoods. Sound, private-sector loans that get repaid. That’s what ONE Mortgage delivers.
Since 1990, ONE Mortgage and its predecessor – the SoftSecond Loan Program – have helped more than 19,300 low- and moderate-income families purchase their first home and has delivered over $3.1 billion in below-market, private mortgage financing.
ONE Mortgage is a 30-year, fixed-rate loan with a minimum 3 percent down payment (5 percent for three-family properties). State interest subsidies are used to reduce monthly payments in the early years of homeownership and then public funds are repaid by borrowers when they successfully sell their home or refinance out of the program. No mortgage insurance is required.
For more information about ONE Mortgage, go to www.mhp.net/onemortgage.