Massachusetts’ first-time buyers seem to be facing the loosest market in many years, potentially giving hope to homebuying dreams – provided they can afford today’s home prices in the first place.
Brookline Bank is the latest financial institution to participate in the Massachusetts Housing Partnership’s ONE+ and ONE+ Boston first-time homebuyer programs.
MHP’s new mortgage product offers new and bigger discounts to low- and middle-income buyers. But without more housing supply, officials say, there are limits to how much it can do on its own.
Low- and moderate-income, first-time homebuyers in Massachusetts’ largely working-class Gateway Cities have a new mortgage option at their disposal that’s designed to make home ownership more attainable.
A new analysis of Home Mortgage Disclosure Act data shows too many Black and Latino first-time homebuyers are still using expensive FHA loans when much cheaper local options exist, a major housing advocacy group says.
Isabel Cruz is a familiar face to some in the housing advocacy world from her time at MHP. Now, she’s taking that experience to lead Boston-area CRA work at M&T Bank as it looks to build on the work of the former People’s United Bank.
Eastern Bank has agreed to increase its participation in the ONE Mortgage affordable homeownership lending program over a five-year period, doubling its annual loan production.
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.
The Massachusetts Affordable Housing Alliance is losing its leader of 30 years as Executive Director Tom Callahan plans to retire at the end of 2021.
The mergers and acquisitions transforming the Massachusetts banking industry this year will also have a significant effect on another group: the community development organizations that partner with banks on affordable housing and lending programs.
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.
It is hoped the program will give city families and residents who earn area median income or below a leg up on all-cash buyers in the city’s expensive housing market.
