Meet lenders, Realtors, home builders and more from 10 a.m. to 2 p.m. this Saturday

BOSTON – October 2, 2013 – (RealEstateRama) — MassHousing is sponsoring a free Homebuyer Fair, this Saturday, October 5, from 10 a.m. to 2 p.m. at the Dartmouth Mall.

Homebuyers will be able to meet with MassHousing staff, lenders, Realtors and home builders about how best to purchase a new home or renovate or refinance their current home.

MassHousing, a quasi-public authority charged with increasing affordable home ownership opportunities in Massachusetts, partners with 150 lenders in Massachusetts who originate MassHousing’s suite of fixed-rate home mortgage loans for income-eligible homebuyers. These loans have low down payment options and competitive interest rates.

Borrowers who put less than 20 percent down on a home receive MassHousing’s MI Plus™, an enhanced mortgage insurance policy that helps pay the borrower’s mortgage for up to six months in the event they lose their job.

MassHousing lenders also offer MassHousing’s Mortgage with No MI that does not require mortgage insurance but still offers affordable interest rates. Like a traditional MassHousing mortgage, the No-MI loan can be used to purchase a 1- to 4-family home, requires a 3% down payment (5% for 2- to 4-family homes), and may be used for purchase or refinance.

But unlike a traditional MassHousing mortgage, borrowers who make down payments of less than 20% of the purchase price are not required to have mortgage insurance, though they may pay a slightly higher interest rate. Still, a borrower can have lower monthly payments by not having to pay for mortgage insurance.

MassHousing also offers the Home for the Brave loan for veterans and also home improvement loans, including the Get the Lead Out program for lead paint removal and septic repair loans.

About MassHousing
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 $17 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com, follow us on Twitter @MassHousing, subscribe to our blog and Like us on Facebook.

Media Contacts
Eric Gedstad: 617.854.1079 | egedstad (at) masshousing (dot) com
Tom Farmer: 617.854.1843 | tfarmer (at) masshousing (dot) com