ONE Mortgage Program

Offered by over 40 lenders, ONE is the state’s most affordable mortgage for low- and moderate-income first-time homebuyers

ONE Mortgage is a 30-year fixed rate loan with a 3 percent down-payment and some of the lowest interest rates around. With ONE Mortgage, you will never have to pay for private mortgage insurance (PMI), saving you hundreds of dollars every month. In addition, qualified borrowers will receive an extra subsidy to lower their monthly payments. Created in 1990 and first known as SoftSecond, ONE Mortgage has helped over 22,000 low- and moderate-income households purchase their first home. Over 40 lenders around the Commonwealth offer ONE Mortgage. Use this calculator to see what you can afford.


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How Does It Work?

The ONE Mortgage has four features that make buying a home truly affordable:

  • 3 percent minimum down-payment
  • Low fixed interest rates
  • No Private Mortgage Insurance (PMI)
  • Extra assistance that lowers your monthly payments

With these features, ONE Mortgage can lower your monthly payments by hundreds of dollars every month compared to other 30-year mortgages. Use our ONE Mortgage calculator to see how ONE can boost your buying power.

Who is Eligible?

To get a ONE Mortgage, you must:

  • Be a first-time homebuyer. This means that you have not owned a home at any point in the last three years.
  • Take a homebuyer class. This class will help you get ready for the home-buying process.
  • Meet our down payment requirements. We require a 3 percent down payment to buy a condo, single-family home, or two-family home. We require a 5 percent down payment to buy a three-family property. You may use a down payment program or gifted money from a family member as part of this down payment.
  • Have a total household income under our limits. These income limits vary by community and the number of people in your household.  
  • Have less than $75,000 in total household assets. This includes any checking accounts, savings accounts, stocks, or bonds. But it does not include most retirement and college savings accounts.
  • Meet our credit score limits. Your credit score must be at least 640 to buy a single family or condo and at least 660 to buy a two/three family home. We also have options for people who don’t have any credit history.
  • Agree to live in the property as your primary residence. If you stop living in the property, you must refinance out of ONE Mortgage.

 ONE Mortgage also helps Section 8 voucher holders become homeowners. With our Section 8 for Homeownership Program, borrowers use their Housing Assistance Payments (HAP) towards their mortgage payment on a condominium or single family home. Email for more information.

What Are my Next Steps?

  1. Ready to get started? Try our ONE Mortgage Calculator.
  2. Sign up for a first-time homebuyer class:
  3. Apply for a ONE Mortgage by calling our partner lenders (banks and credit unions).
  4. See if you are eligible for extra help from local down payment assistance programs.
  5. Once a seller accepts your offer, you’ll work with your lender to finalize your ONE Mortgage loan and buy your new home!


If you have questions, call us toll free at 1-800-752-7131 or email at

Contact   for ONE Mortgage Program


Please listen for phone menu options for EOHLC divisions

Kevin Connor, press secretary


Main Office
100 Cambridge St, Suite 300, Boston, MA 02114

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