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What Are MassHousing Loan Requirements?

To be eligible for a MassHousing Mortgage, you have to meet income and loan limit guidelines. You must purchase a one- to four-family property or condominium unit. You need good credit and you must complete a homebuyer education course, such as the classes offered by BLUE, Inc.

Fixed Rates and No Mortgage Insurance

22244316_sMass housing loans are available with fixed rates and no mortgage insurance. You can get a 30-year fixed rate and veterans qualify for low down payment financing.

What are the Down Payments Like?

There is a minimum 3 percent down payment for single family homes and condos. There is a minimum 5 percent down payment for two-, three-, and four-family homes. There are no hidden fees or surprises.

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