Buyers Can Do Better Than FHA
Real estate professionals who do not make their clients aware of non-FHA options are doing them a great disservice. In this hot housing market, LMI buyers need more buying power, not less.
Key Tool for First-Time Buyers Sidelined in Hot Market
FHA loans are exploding in popularity. But their users – often Black and Latinx first-time buyers – can lose in multiple-offer situations. What can be done?
Trinity Lands Financing for Brockton Second Phase
Trinity Financial now has the money it needs to begin building the second phase of its 224-unit Enterprise Center multifamily development in downtown Brockton after closing a deal with MassHousing.
More Support for First-Generation Homebuyers Will Help Close Homeownership Gaps
Homeownership rates among nonwhite Massachusetts residents are much lower than those of white families. This creates dire implications for generating wealth in communities of color.
HarborOne Launches DEI Strategy with Workforce, Homebuying Focus
A major community bank on the South Shore says it will make buying a home in its home city of Brockton easier and launch an internship program in an effort to simultaneously diversify its ranks and attack the racial wealth gap.
MassHousing Creates True Change Agent
CATIC fully supports the courageous efforts of those who are conscientiously working every day to change our society for the better by standing up for equality, equity and justice for the African American community, writes its chief compliance officer, Robert Hogan.
Methuen Mill Falls Complex Sold to New York Investor
A New York developer has acquired a 97-unit Methuen apartment complex redeveloped under the state’s Chapter 40B affordable housing law for its first Bay State holding.
Redevelopment Updates 88 Units at Orient Heights Complex
Proceeds from the sale of the Winthrop Center garage and inclusionary development payments from developers helped pay for the second phase of the Overlook Terrace at Orient Heights public housing redevelopment in East Boston.
53 Affordable Housing Landlords Pledge to Avoid Evictions
Over four dozen owners and operators of affordable housing units announced a joint pledge this morning to work with their tenants in financial trouble due to the COVID-19 recession and avoid evicting them over missed rent payments.
POAH Buys 227-Unit Attleboro Portfolio
Nonprofit developer Preservation of Affordable Housing has closed on its acquisition of a 227-unit, 3-building portfolio in Attleboro.
300-Unit Cambridge Affordable Towers Get $88M Financing
A 300-unit mixed-income housing development on Memorial Drive in Cambridge will be renovated and see its affordability preserved thanks to a nearly $88 million loan.
Only Coordinated Response Will Fix Racial Homeownership Gaps
I constantly struggle with those who attempt to lay the blame for low minority homeownership rates at the feet of the mortgage lending industry. It is an extremely complex socioeconomic issue that requires a complex response.
$30.3M Financing Package Pays for Upgrades, Affordability at Fenway Property
A $30.3-million financing package from MassHousing will preserve 97 units of mixed-income housing in Boston’s South End and pay for the first upgrades to the property since the 1970s.
The Average Mass. Homeowner is Hurting
Two state programs that funnel hundreds of millions in mortgages each year to low- and moderate-income buyers and homeowners across the Bay State are seeing a sharp rise in missed and late payments.
Forbearances Create Uncertain Summer for Lenders
With expanded federal jobless aid set to run out at the end of this month and a state foreclosure moratorium likely to expire almost three weeks later, concern is growing as the mortgage industry faces an uncertain summer and fall.
Pandemic Puts FHA Lending in Flux
With lower down payment and credit requirements compared to other mortgages, FHA loans have been a key resource for first-time homebuyers. But during the economic crisis caused by the coronavirus pandemic, investors have raised their criteria for purchasing these loans.
Lowell Mixed-Income Housing Project Gets $38M Loan
An enclosed sky bridge will link two parcels in Lowell’s Hamilton Canal Innovation District as part of a 125-unit workforce housing project by Boston-based WinnCompanies.
Cambridge Affordable Housing Modernization Plan Lands $45M Loan
A 198-unit Cambridge Housing Authority property will be modernized after securing financing.
Medford Square High-Rise Sold for $83.5M
A joint venture plans to spend up to $5 million on building upgrades including installation of free wifi for residents after acquiring a Medford elderly housing complex for $83.5 million.
Beacon Communities Gets $30M Financing for Amherst Property
A 204-unit Amherst apartment complex that was the first property to be developed with financing from MassHousing has received $30 million in mortgage refinancing.
