MassHousing provided $1.6 billion to support housing in Massachusetts in fiscal year 2013, which ended June 30. The amount bests the agency’s previous record for amount given over a 12-year period by 72 percent.

MassHousing’s $1.2 billion in lending for homeownership resulted in 5,468 loans. For loans used to purchase a home, the average purchase price was $238,800 and the average loan amount was $226,300. The average household income was $75,771. Borrowers who refinanced with MassHousing saved an average of $400 per month.

"Once again first-time homebuyers and homeowners refinancing to a lower rate flocked to our no-MI home mortgage loan," MassHousing Executive Director Thomas Gleason said in a statement. "There is great demand in the marketplace for affordable home mortgage loans and we are meeting that need for people with modest incomes."

The no-MI product, which is not available in the conventional market, is made possible by a risk-sharing partnership between the nation’s state housing finance agencies and Fannie Mae.

The agency made loans totaling $369 million to finance the construction of six new apartment communities with 329 units, and to refinance, upgrade and extend affordability at 22 existing rental developments with 3,186 units.

In addition MassHousing also provided $40.8 million from the Affordable Housing Trust Fund, which it administers on behalf of the Department of Housing and Community Development. It also provided an $8.4 million in the form of mortgage insurance for affordable non-MassHousing loans made to homebuyers by community lenders.