Halfway through fiscal year 2019, MassHousing is on pace to have one of its strongest lending years ever.
MassHousing’s 2019 fiscal year runs from July 1, 2018 to June 30, 2019. As of December 31, the Agency has closed $1.07 billion in financing to help ensure that 6,249 Massachusetts residents have an affordable place to call home.
On the Rental Housing side, MassHousing has closed $531.4 million in financing to support the creation or preservation of 20 developments with 3,200 units of rental housing. A number of multifamily transactions are in the pipeline and expected to close before the end of FY’19, June 30.
On the HomeOwnership side, MassHousing has closed 2,909 home mortgage loans for $509.6 million. HomeOwnership lending continues to be driven by interest in MassHousing’s Down Payment Assistance program, which has benefited 871 homebuyers in FY19. Another 140 loans for $29.7 million were made possible through MassHousing’s Mortgage Insurance Fund.