BOSTON – (RealEstateRama) — MassHousing announced today that North Shore Bank is offering Operation Welcome Home, MassHousing’s mortgage program designed to make it easier for Massachusetts veterans to purchase their first home.
Operation Welcome Home is available to active duty members of the Armed Forces, members of the Reserves and Massachusetts National Guard, honorably discharged veterans and Gold Star Family members.
“North Shore Bank has been providing top-quality homeownership opportunities and banking services for more than 125 years and we are pleased they are now offering Operation Welcome Home as a trusted mortgage option for Massachusetts veterans buying homes,” said MassHousing’s Timothy C. Sullivan.
Qualified borrowers can receive up to 100% financing on a single-family home or condominium. Low down payment options are also available for two-family and three-family homes.
Joanne Donovan, North Shore Bank Vice President and Residential Lending Sales Manager said, “We understand the challenges most veterans in our community face when purchasing their own home and we’re committed to helping them by providing access to reliable financing.” She went on to state, “Operation Welcome Home makes the dream of homeownership a reality for so many of the men and women who have fought so hard for our country, and we’re proud to be a part of it.”
Veterans interested in an Operation Welcome Home loan through North Shore Bank should visit www.northshorebank.com.
MassHousing is not a direct originator of loans and instead makes loans through 170 partner banks, mortgage lenders and credit unions across the Commonwealth, like North Shore Bank.
Operation Welcome Home loans for which the borrower makes less than a 20% down payment will include MassHousing’s MIPlus™ mortgage insurance. MIPlus™ includes unemployment protection at no additional cost to the borrower. The benefit will cover the borrower’s principal and interest payments up to $2,000 for up to six months in the event of a job loss. For a member of the Reserves or National Guard, activation or deployment overseas will make them eligible for the unemployment benefit as well.
Comprehensive information about how to qualify and apply for an Operation Welcome Home loan can be found on MassHousing’s website www.masshousing.com as well as the list of approximately 50 Operation Welcome Home lenders, including North Shore Bank.
North Shore Bank is Offering MassHousing’s Operation Welcome Home Mortgage Loans for Massachusetts Veterans
About North Shore Bank
North Shore Bank is a full-service community bank based in Peabody and serving the personal and business banking needs of the North Shore, eastern Massachusetts and southern New Hampshire. Established in 1888, the bank operates out of 12 area offices located in Beverly, Danvers, Merrimac, Middleton, Peabody, Salem, Saugus and Newton, New Hampshire.
MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth.
Since its inception, MassHousing has provided more than $19 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com, follow us on Twitter @MassHousing, subscribe to our blog, watch us on YouTube and Like us on Facebook.
Eric Gedstad: 617.854.1079 | egedstad (at) masshousing (dot) com
Tom Farmer: 617.854.1843 | tfarmer (at) masshousing (dot) com
North Shore Bank is Offering MassHousing’s Operation Welcome Home Mortgage Loans for