| Overview |
| Home Funds |
| USDA/RHLP |
| Soft Second |
| MHFA/MassHousing |
| Rehabilitation |
Massachusetts Housing Partnership Soft Second Program Soft Second program funds are used to guarantee and subsidized mortgage loans for first time homebuyers. Eligible participants are given both a first and second mortgage for the purchase of a home totaling up to 97% of the purchase price. The loan package requires no private mortgage insurance and the rates on both loans are below conventional mortgage rates. The second mortgage may be subsidized for up to ten years The Soft Second program is one of the most inexpensive ways to finance the purchase of a home in Massachusetts because it encompasses the savings of no private mortgage insurance, low rates, and the subsidy. To be eligible for the program, applicants must be first time homebuyers, attend housing counseling and meet income guidelines. Click here for information on who is eligible. |
