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MassHousing Mortgage Programs

As a MassHousing approved lender, Bank of Canton can offer affordable financing programs for low- and moderate-income buyers.  These programs feature low down payment options and below-market interest rates.  And, for those requiring mortgage insurance, MassHousing offers an enhanced mortgage insurance policy that helps pay the borrower’s mortgage payment for up to six months in the event they lose their job.  Here are just a few of the MassHousing programs we participate in:

Purchase and Rehabilitation Loans

MassHousing Purchase and Rehab loans help borrowers cover both the cost of purchasing a home in need of repairs, as well as the expense of rehabilitating that property.

A Home for the Brave

In a partnership with MassHousing, Bank of Canton has committed millions of dollars to help military veterans purchase or refinance their home. As part of the A Home for the Brave program, Bank of Canton is making available adjustable rate mortgages with rates that are fixed for the first ten years and then adjustable on an annual basis thereafter to Veterans and active duty members of the military who live in Massachusetts. Spouses of soldiers who died while on active duty may also qualify for the program.

Home Saver

Bank of Canton is proud to partner with MassHousing to offer its Home Saver Program to homeowners with modest incomes who are burdened by an unaffordable loan. Home Saver is designed to help borrowers who are unable to repay their current mortgage given the loan terms and their personal income, assets and other obligations. It is a proactive step that homeowners can take before their mortgage becomes unaffordable, and before foreclosure becomes a real possibility.