is it possible to get a mortgage with 0% down in mass?

Asked by Giaseven, Saugus, MA Sun Mar 13, 2011

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Max, Home Buyer, Westford, MA
Sat Jun 11, 2016
I want to buy house in Worcester and was wondering if there is downpayment assistance or grant for first time homeowners occupants or perhaps no money down mortgage loan and where or how. Any help appreciated. Thank you.
0 votes
Paul DeSousa, Mortgage Broker Or Lender, Westport, MA
Mon Mar 14, 2011
Mass Housing, no longer has a 100% program, but if you want to buy in Fall River, I can get you down payment assistance.
USDA still has funds to lend, and their program is 100% financing. The only other program offering 100% financing is VA. If you or a spouse is in or was in the military, this is the loan for you. This is probably the best loan going right now.
Contact me and I will inform you about free down payment assistance programs.

Thanks and good luck
Paul
0 votes
Joe Arnao, Agent, Sanwich, MA
Mon Mar 14, 2011
There is also an FDA loan that may apply. Seek the opinion of lender. That is the best place to start for any home search. Start with a local lender then shop National lenders and brokers as they are a good source too.
0 votes
Steve Boucher, Mortgage Broker Or Lender, Franklin, MA
Sun Mar 13, 2011
There are other programs besides the VA loan that offer 100% financing
0 votes
Heidi Zizza, Agent, Framingham, MA
Sun Mar 13, 2011
Only if you are a vet. The VA offers 100% financing
0 votes
Steve Boucher, Mortgage Broker Or Lender, Franklin, MA
Sun Mar 13, 2011
I work as Mortgage Banker based in Mass and this is possible with a few products if you qualify for them. Mass Housing no longer has the 100% option. Feel free to call or email me and I can discuss the available products to see if you would be a fit. Thanks!

781-277-1792 or bouchermortgages@gmail.com
0 votes
Jim Armstrong, Agent, Salem, MA
Sun Mar 13, 2011
No down payment loan are available through Mass Housing but I believe only for purchases in Brockton, Fall River, greater Gardner, New Bedford, North Quabbin, Quincy, Southbridge, Springfield, Taunton, and Worcester.

Mass Housing and the VA both have loans for veterans with no money down (I have one myself). Other than these options, you would have to come up with 3% (Mass Housing) to 3.5% (FHA)down to qualify for a mortgage. You will also need some funds for closing costs, insurance and a few other prepaid items. Keep in mind though, that closing costs can also always be incorporated into an offer so that the seller pays them for you.

Jim Armstrong



https://www.masshousing.com/portal/server.pt/gateway/PTARGS_…
0 votes
Edward J. Ke…, Agent, Hopkinton, MA
Sun Mar 13, 2011
Hello Gia,

The answer is yes. I would love to introduce you to a team of mortgage professionals that will walk you through the financing process. You can call me on my cell at 617-827-1712 with any questions or concerns.

Have a great day,

Ed Kern
0 votes
Jennifer Eri…, Agent, Wilmington, MA
Sun Mar 13, 2011
My understanding is the only loan available was MA housing with a 720 FICO score and income qualification. However MA Housing I believe lost its funding through Fannie Mae. I can put you in touch with very knowledgeable local lenders that will discuss your options.

Best of luck,

Eric
Web Reference:  http://www.teamerickson.com
0 votes
Kimberly Sol…, Agent, WINCHESTER, MA
Sun Mar 13, 2011
Yes, it is possible. If you would like to contact me I can put you in touch with someone right in Masschusetts who could possibly get you pre-approved. Let me know if I can help you.

781-526-8666
Web Reference:  http://www.kimsolio.com
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