What about this program"?

Asked by Jadreamin1012, Brockton, MA Sat Sep 29, 2012

MassHousing Municipal Mortgage Loan Program

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, ,
Sat Sep 29, 2012
Hi Janet,

You may also want to check out the no money down USDA mortgage.

You'd have to be ok with living just outside of Brockton in Easton or south of Clifton Heights but it could be worth it for you and here's why.

One of the best things about this mortgage is the monthly mortgage insurance is substantially less than an FHA or conventional mortgage and that's with no money down.

Here's an example: An FHA mortgage of $155,000 is going to have a monthly mortgage insurance payment of $161.45 but on a USDA mortgage it's only going to add $51.66 to your monthly payment and the interest rate for a USDA mortgage is just as low as an FHA mortgage.

The other nice thing is you can actually roll your closing costs into the loan as long as the appraised value supports it.

Please feel free to contact me for more information or help. You can also find info on my USDA Mortgage website by clicking the link below.

John Burke
Senior Mortgage Banker
Peoples Bank & Trust
(877)228-9069
1 vote
USDA could be used in the cottage areas around the ponds in Hanson, Halifax and Pembroke, correct?
What is the minimum credit score required?
Flag Sat Sep 29, 2012
, ,
Mon Oct 8, 2012
Jadreamin1012, Home Buyer, Brockton, MA

USDA could be used in the cottage areas around the ponds in Hanson, Halifax and Pembroke, correct?
What is the minimum credit score required?

Hi Jadreamin,

Yes, Hanson, Halifax and Pembroke are all eligible areas for the no money down USDA mortgage.
Most lenders require a 640 middle credit score but I can go down to a 620.

Please feel free to contact me for more information or help. You can also find info on my USDA Mortgage website by clicking the link below.

John Burke
Senior Mortgage Banker
Peoples Bank & Trust
(877)228-9069
1 vote
Heath Coker, Agent, Falmouth, MA
Sat Oct 6, 2012
If it works for you, go for it.
Ask a local lender - near where your property will be.


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1 vote
Janet Baxter, Agent, Brockton, MA
Sat Sep 29, 2012
Mass Housing has some great programs But I just heard from my mortgage rep FHA rates just went to 3%. This is just amazing. Call me and I'll give you her info. 508-246-8195.

Janet Baxter.
1 vote
Thank you.
What is the minimum credit score
Flag Sat Sep 29, 2012
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