In response to a 1989 Federal Reserve study that found a pattern of racial bias in mortgage lending in Boston, representatives from MHP, the Massachusetts Affordable Housing Alliance (MAHA), the Massachusetts Bankers Association, the City of Boston and others began meeting to find potential solutions.  The result was the SoftSecond Loan Program, designed to address common obstacles facing lower-income, first-time homebuyers.  After 20 years, SoftSecond has yielded over $2.6 billion in private financing and more than 17,000 successful homeowners. 

The program is now transforming from a two-mortgage structure to the ONE Mortgage Program.  ONE Mortgage offers homebuyers the same affordability and financial security that generations of SoftSecond homeowners have benefited from, in a new, simpler structure. To be eligible, one must be a first-time homebuyer with an income at or below area median income. In 2013, the average household income of homebuyers who used the program was $50,000.  

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You may also want to review the ONE Mortgage program fact sheet.