Homeownership Assistance Programs

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Monson Savings Bank is proud to partner with MassHousing to provide affordable mortgage financing options to first-time and repeat homebuyers. MassHousing Home Loans offered through Monson Savings Bank are aimed at assisting our Massachusetts neighbors to achieve their dream of homeownership. 

MassHousing Programs

• Downpayment Assistance Program¹
• MIPlus Borrower Protection Program²
• Energy Saver Home Loan Program (ESHLP)
• Septic Repair Loans
• Home Improvement Loans

Features:

• Down Payment Assistance for up to $30k for qualified income-eligible first-time homebuyers¹
• Mortgage Insurance with expanded benefits to cover housing expenses in the event of job loss²
  
• Affordable fixed interest rates with various repayment terms available
• Flexible underwriting and income limits to support qualifying more MA families

¹Maximum income limits apply. First-time home buyer class and landlord counseling required, if applicable. FICO score minimum as low as 640. Each of the programs available have other restrictions that may apply. Contact us for more information.

²MI Plus™ borrower protection is included with MassHousing loans at no additional cost. MI Plus™ pays a borrower’s principal and interest for six months (up to $2,000/month) if they become unemployed.

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Monson Savings Bank is pleased to provide access to a variety of FHLBank Boston's homeownership and down payment assistance options designed to make buying and owning a home more accessible and affordable. We’re here to support you every step of the way and help you move forward on your path to homeownership with confidence.

Assistance Programs

• Lift Up Homeownership
• Equity Builder Program
• Housing Our Workforce (HOW)

Features:

• Homebuyers Assistance & Support
• Enhanced Down Payment Assistance
• Closing Cost Assistance
• Home Rehabilitation Assistance

Learn more

Programs are available for a limited time only. Funds will be awarded on a first-come, first-served basis. Federal assistance programs are subject to funds availability and are not guaranteed by Monson Savings Bank. Loans are subject to credit approval.

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Our experienced, knowledgeable and friendly Residential Lenders are ready to help you meet your home financing goals.