How does the Chenoa Fund work? The Chenoa Fund provides second mortgages to be used with FHA loans to cover the minimum down payment requirement when purchasing an FHA-insured home. In effect, pairing the DPA with an FHA loan requires no money from the borrower, and the entire cost of the house is financed. The …
Financing a multifamily property
How to finance a multifamily property Purchasing your first Massachusetts home is always a significant milestone, but what if you could also turn it into an investment opportunity? That's where multifamily homes come into play. For first-time homebuyers trying to enter the current housing market, understanding how to …
MEP’s Rate Protection Program is a win-win for borrowers!
Every rental payment you make is building equity for someone else. Home values are predicted to continue to appreciate. The prices you see today are going to continue to rise. Don’t you want to realize that appreciation for yourself? MEP’s Rate Protection Program (RPP) allows you to get off the sidelines and buy the …
Continue Reading about MEP’s Rate Protection Program is a win-win for borrowers!
Guide to closing cost assistance
Navigating closing cost assistance Closing cost assistance can significantly benefit first-time homebuyers and lower-income buyers. Understanding the types of assistance available and how to qualify can help ease the financial burden of purchasing a home. This guide will expand on closing cost assistance, who …
A complete guide to closing costs
A look into closing costs for mortgages Buying a home is an exciting milestone, but it comes with significant financial responsibilities. One of the key expenses you’ll encounter in New England is closing costs. Understanding these expenses is crucial for all borrowers, especially first-time homebuyers. These …
Are mortgage rates going down?
Mortgage rates are on the decline Yes, mortgage rates are going down and this has sparked an exciting sudden change in the Massachusetts housing market. But who knows for how long? Many prospective borrowers with strong credit were locking their mortgages at the end of last week. Mortgage interest rates change all the …
