MassHousing's Operation Welcome Home Loan Program is serving Massachusetts Veterans by providing quality home financing for up to 100% of the purchase price.
Since the program was announced in November, MassHousing has closed 22 loans for Veterans with combined financing of $4.8 million.
Operation Welcome Home loan 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.
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.
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 per month 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.
MassHousing is not a direct originator of loans and instead makes loans through 170 partner banks, mortgage lenders and credit unions across the Commonwealth.
Learn more about how to qualify and apply for an Operation Welcome Home Loan.