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Live Worcester Now Program

What is the Live Worcester Now Program?

Live Worcester Now is a private/public partnership established to preserve and promote homeownership in the City of Worcester. These programs are designed to help potential homebuyers select a lending package that suits their income and their needs through trusted and responsible lenders, like Bay State Savings Bank.

As a partner in the Live Worcester Now initiatives, we are proud to offer the following programs:

Loan Type

  • Loans are for purchases only
  • Loans must qualify for mortgage insurance (MI) from MHFA (25% - 30% coverage)
  • Up to 100% loan-to-value (LTV) (must meet conforming loan limits)
  • 30 year FIXED rate available
  • Some seller concessions are allowable

Eligible Properties

  • Owner occupied, 1-4 family properties including residential condominiums
  • Must be in the City of Worcester
  • Turn key, ready for occupancy (no rehab loans)

Borrower Qualifications

  • 680 credit score for 97.01% - 100% financing*
  • 660 credit score for 95.01% - 97% LTV*
  • 640 credit score for 80.01% - 95% LTV
  • Maximum debt-to-income ratio of 45%

Questions about this program? Please call our Retail Lending Department at (508)-890-9060 and speak to one of our representatives.

For more information regarding about the Live Worcester Now Initiative, visit their website.

Apply Now Check Rates

*Requires Homebuyer Counseling.

Please visit our Rates page for current rates and terms.

All loans are subject to credit approval.