Posted on June 25, 2017
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.
Today’s lender spotlight is on Blue Hills Bank.
So far in FY2017, Blue Hills Bank has used ONE Mortgage equally to help both its urban and suburban customers, making 23 ONE Mortgage loans and providing $6.9 million in private financing to first-time homebuyers.
Headquartered in Hyde Park, Blue Hills operates 11 branches in Boston, Dedham, Hyde Park, Milton, Nantucket, Norwood, West Roxbury and Westwood.
To inquire whether a ONE Mortgage loan from Blue Hills is right for you, go to Blue Hills Bank’s mortgage loan page for more information.
These days, buying a home in Massachusetts isn’t easy. Statewide, inventory is down 34 percent, prices are up 6 percent and sales are down 3.5 percent.
In this market, ONE Mortgage is more important than ever and we thank Blue Hills Bank for incorporating ONE Mortgage into its menu of opportunities for its customers and for helping low- and moderate-income Massachusetts first-time homebuyers through 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 20,000 low- and moderate-income families purchase their first and home and has delivered $3.5 billion in below-market, private mortgage financing. Currently, 38 lenders offer ONE Mortgage.
ONE Mortgage is a 30-year, fixed-rate loan with a minimum 3 percent down payment (5 percent for three-family properties). ONE homebuyers save more each month because they do not have to pay for costly private mortgage insurance.
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.
For more information about ONE Mortgage, go to www.mhp.net/onemortgage.