Mass Housing Finance Agency (MHFA)

Bay State Savings Bank is proud to offer MHFA first-time homebuyer mortgage loans, down payment assistance, and homebuyer benefits.

MassHousing mortgage loans and down payment assistance can be used to buy a home in every city and town in Massachusetts! The benefits and options available to you, as well as the eligibility requirements, depend on where you buy. Our Mortgage Professionals are ready to help you every step of the way!

Benefits of an MHFA Mortgage with Bay State Savings Bank:

  • Access to a large network of certified home buyer education providers,
  • Easy-to-understand, fixed-rate loans with no hidden fees, adjustable rates, or other surprises,
  • Low- and no-down payment options,
  • MassHousing Mortgage Insurance with MI Plus.

Down Payment Assistance

Saving for a down payment is one of the biggest obstacles facing home buyers. That’s why MassHousing provides first-time home buyers with down payment assistance.

  • When getting a MassHousing Mortgage, you could receive up to $30,000 in Down Payment Assistance.

May be used in combination with other local down payment and other assistance programs, such as the Equity Builder Program.

MI Plus Job Protection Means You Are Covered

MassHousing mortgage insurance with MI Plus is a unique benefit that helps pay your mortgage if you lose your job. MI Plus covers principal and interest payments for up to 6 months, up to $2,000/month. MI Plus is offered at no additional cost on loans insured by MassHousing.

Down Payment Assistance

Eligible buyers could receive up to $30,000.

MassHousing Mortgage Loans

Is a MassHousing Mortgage right for you?

MI Plus Job-Loss Protection

Helps homeowners pay their mortgage if they lose their job.

Ready to start the process?

Our team of mortgage professionals are here for you every step of the way. For a rate quote or to learn more about MHFA loans and if they are right for you, contact us today!

Call: (508) 890-9060 | Email:

First-Time Homebuyers: Contact Our Mortgage Professionals!