Posted on February 5, 2020
BOSTON --- Ever since Mayor Marty Walsh announced that city funds will be used with ONE Mortgage to increase homeownership , first-time buyers have been clamoring for more information. This draft one-pager, which is subject to change, provides some broad outlines of the new program, which is scheduled to launch this spring.
Called ONE+Boston, the new program will use $4 million in City of Boston Community Preservation Act funds to finance a permanent reduction in the interest rate of a 30-year ONE Mortgage loan for income-eligible buyers buying their first home within the city limits.
Since Walsh made the ONE+Boston announcement this summer, representatives from MHP, the city and the Massachusetts Affordable Housing Alliance (MAHA) have been training participating lenders. ONE+Boston is expected to be ready to be offered to the public in May, 2020. For more information, see the draft one-pager below, which is subject to change prior to launch.
