First-time Homebuyer

Meet the Team
Summary

CSB First-time Homebuyer Mortgage Programs*

first-time homebuyer programs in Massachusetts

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John Ryan NMLS NMLS #27261

Clinton Savings Bank NMLS #422081


Massachusetts Housing Partnership (MHP) Program

  • Low down payment with no Private Mortgage Insurance (PMI) for single and two family houses or condominiums.
  • No Mortgage Insurance (MI) option available up to 97% Loan to Value (LTV).
  • Below market interest rates
  • Interest rate subsidy for qualified buyers.
  • Minimum credit score of 660 for single family houses and condominiums – 680 for 2 family houses
  • Homebuyer education required
  • Serviced locally by CSB lenders
  • Borrower only has to contribute 1.5% of their own funds

MassHousing Finance Agency (MHFA) Program

  • Reduced MI has unemployment protection
  • No MI option available up to 97% LTV
  • Minimum credit score starting at 660 with low down payment options for single family houses or condominiums
  • Homebuyer education required

CSB First-time Homebuyer Mortgage Program

  • Maximum 97% LTV with MI on single family and FNMA eligible condominiums.
  • Serviced locally by CSB lenders
  • Maximum 95% LTV with MI on 2 families
  • Minimum credit score of 680
  • Jumbo or conventional loan amounts
  • Credit at closing for credit report and appraisal

*All first-time homebuyer mortgage loans are subject to income and credit approval. Other restrictions may apply. All applicants are subject to complete underwriting based on program guidelines.



We are also proud to offer VA loans with 100% financing**

**VA certificate of eligibility