Posted on June 29, 2016
BOSTON --- With Fourth of July weekend coming up and families thinking of maybe getting away to the beach, MHP's ONE Mortgage Program thought it proper to celebrate National Homeownership Month by saluting Housing Assistance Corporation of Cape Cod.
A longtime supporter of low- and moderate-income first-time homebuyers, HAC has provided pre-purchase, first-time homebuyer education to 24 ONE Mortgage homeowners so far in FY 2016. The average income of the ONE borrowers HAC has served is $52,869.
HAC is one of nine regional Housing Consumer Education Centers in Massachusetts HAC provides a variety of workshops, services and materials designed for all types of housing consumers and providers, homebuyers and homeowners. For more information, go to the HAC on Cape Cod web site.
Thank you HAC for your 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.