Eligible borrowers may use MassHousing Mortgage FHA—a 30-year, fixed rate loan—for the purchase or refinance of a condominium or one-to-four family property. Borrowers may finance up to 96.5% of the sales price or the appraised value, whichever is less. Loans requiring mortgage insurance will be insured by FHA.
A MassHousing Mortgage FHA 100 may be used by first-time homebuyers* for the purchase of a single-family home, condominium or PUD. Borrowers making ≤100% of area median income (AMI) may be eligible for MassHousing Down Payment Assistance. View income limits.
Borrowers benefit from flexible underwriting; lower credit score requirements; and FHA mortgage insurance rates. See our Underwriting Grid for loan program details.
*You do not have to be a first-time homebuyer if you are purchasing a home in Boston, Chelsea, Cambridge, Everett, Fall River, Lawrence, Lynn, North Adams and Somerville.