Posted on June 24, 2016
Lawrence Community Works helped Trinidad Rosa buy her first home.
BOSTON --- June is National Homeownership Month and the Massachusetts Housing Partnership’s ONE Mortgage Program is celebrating it by highlighting the efforts of key lenders and nonprofit partners who have helped low- and moderate-income first-time homebuyers purchase their first home.
Today’s spotlight is on Lawrence Community Works (LCW).
So far in FY 2016, LCW has provided pre-purchase, first-time homebuyer education to 48 ONE Mortgage homebuyers, with an average income of $57,289.
To see first hand how LCW helps homebuyers, read the profile on ONE Mortgage homebuyer Trinidad Rosa and LCW’s Arleen Zorilla in the 2015 MHP annual report.
Thank you LCW 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.