Metro Credit Union, MassHousing and the city of Lawrence have partnered to create a new mortgage loan program to assist with the financing of property purchases, property refinancing and property rehabilitation, exclusively for Lawrence.

At Home in Lawrence offers expanded loan to values and less restrictive reserve and credit requirements for low- and moderate-income borrowers. The loans will be insured by MassHousing and financed by Metro Credit Union.

The nonprofit Lawrence Community Development Corporation will oversee the management of this initiative, which also aims to help revitalize properties within the city. Mortgage loans may cover the cost of alterations, renovations, additions, accessibility improvements and repairs to existing structures.

"The At Home in Lawrence Program creates an appealing option for potential homebuyers within and outside of Lawrence," Lawrence Mayor Daniel Rivera said in a statement. "We continue with our promise of finding ways to create cheaper mortgages and help improve the livability, safety or utility of our existing home properties. This is not only in the best interests of the city, but also for existing homeowners who take pride in being part of the Lawrence community."