MassHousing (The Massachusetts Housing Finance Agency) is a quasi-governmental agency created in 1966 and to date has provided loans to help more than 60,000 homebuyers achieve affordable and sustainable homeownership.  MassHousing raises capital by selling tax-exempt bonds and does not use taxpayer dollars.  A MassHousing loan can be used to buy or refinance a home, and loans are available to move-up as well as first-time homebuyers.  MassHousing loans are simple and straightforward and offer many benefits not found in a conventional mortgage loan, including downpayments as low as 3%.  MassHousing offers a very popular loan that does not require mortgage insurance, even with a downpayment of less than 20%.  Loans that do carry mortgage insurance come with MassHousing’s unique job loss protection insurance called MI Plus™.  The policy helps a borrower make their monthly mortgage payments for up to six months if they lose their job.  MassHousing’s interest rates are at or below market, with lower interest rates available (through the RightRate loan) for borrowers who earn below 80% of area median income (AMI).  

To be eligible for a MassHousing loan a borrower must meet income limits and loan limits, which vary by region.  For example, the maximum household income for a MassHousing loan to someone earning more than 80% of AMI in Suffolk County is $125,415 while in Franklin Country the limit is $94,770.  To obtain a lower interest rate, a borrower in Suffolk County earning below 80% of AMI could earn no more than $74,320 and a borrower in Franklin County could not exceed $56,160.  Income limits for every region in the Commonwealth are available at  

The maximum loan limit for a MassHousing borrower is $417,000 for a 1-family home or condo and $533,850 for a 2-family.  First-time homebuyers must complete homebuyer counseling and provide full documentation of income, assets and employment. Credit standards vary but generally a minimum credit score of 660 is required, with higher scores required for borrowers with the lowest down payments.  

More information is available at or by calling 1-888-627-7562.