Loans for Homeowners
Already own your own home? We can help you refinance, remove dangerous lead paint, make improvements to your home or help you upgrade a failing septic system.
Foreclosure Prevention Resources
If you have a MassHousing Mortgage and/or a mortgage insured by MassHousing with MI Plus® Payment Protection and are having difficulty paying your mortgage, MassHousing is here to help you. Learn more.
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Refinance Your Mortgage
- Fixed interest rates for the life of the loan
- Mortgage Insurance with MI Plus mortgage payment protection, which gives you peace of mind if you lose your job
- Loan servicing by MassHousing’s knowledgeable, friendly and Massachusetts-based staff
Refinance and Renovate
Looking to make improvements and repairs to your home? A MassHousing Refinance and Renovation loan allows you to
- Refinance your mortgage and cover costs of repairs, upgrades and improvements
- All with one easy-to-manage loan from MassHousing
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Get the Lead Out
The Get the Lead Out Program provides low and no-interest-rate financing to help homeowners, investor-owners and nonprofits remove lead paint from their properties.
Get the Lead Out is offered through a partnership with the Departments of Public Health and Housing and Community Development to provide an affordable way to remove hazardous lead paint from your home.
How to Apply
Get the Lead Out loans are administered by local rehabilitation agencies. For more information or to apply, contact a participating agency.
Eligibility
0% Deferred Interest Rates for Owner-Occupied Properties
- No closing costs with a 0% deferred loan
- Loan is deferred until sale or refinance of the property
- Flexible underwriting guidelines for owner-occupant families of 1-4 family properties in which a child under the age of six resides or owner-occupants who are court-ordered to delead (must be child’s permanent residence)
- Owner-occupants without a child under the age of six who opt for preventative lead abatement to increase the livability of their property must meet standard underwriting guidelines to take advantage of the 0% deferred rate
3% Interest Rate for Investor-Owners
- For investor-owners renting to income eligible tenants.
- 15-year loan terms. Loans are fully amortizing.
0% Interest Rate for Nonprofit Organizations
- For nonprofit organizations who rent to income-eligible tenants.
- 15-year loan terms. Loans are fully amortizing.
Income Limits and Other Restrictions
- Borrowers must meet income guidelines to participate in the Get the Lead Out Program. View income limits.
- Maximum Loan Limits: $30,000 for a single-family home; $35,000 for a 2-family home; $40,000; for a 3-family home; $45,000 for a 4-family home
Next Steps
To learn more about or apply for a Get the Lead Out Loan, contact a participating local rehabilitation agency.
Questions? Contact our HomeOwnership Team at 888-843-6432 or homeownership@masshousing.com.
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Home Improvement Loan
An affordable loan from MassHousing to finance general, non-luxury improvements to your home.
Program Details
- The interest rate on all HILP loans is 5%
- Loan amounts range from $7,500 to $50,000
- Loan term of 15 years
Income Limits and Other Restrictions
- Borrowers must meet income eligibility limits
- The home must have been your principal residence for at least one year
- You must have good credit and stable income.
- Loans may be used for 1- to 4-family properties and condominiums only
- You will not be reimbursed for work started before the loan closing
How to Apply
HILP loans are originated by MassHousing-approved lenders. For more information, or to apply for a HILP loan, contact a participating lender.
Questions? Contact our HomeOwnership Team at 888-843-6432 or homeownership@masshousing.com.
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Septic System Repair Loan
Low- or no-interest financing to help homeowners address a failing or non-compliant septic system.
Program Details
- Available to owners of 1- to 4-family homes and condominiums
- Loan amounts from $1,000 (minimum) to $25,000
- Loan term of 15 years
- Interest rates range between 0% and 2.5%
Income Limits
Borrowers must meet income eligibility requirements (up to $127,700 statewide) to qualify for a Septic System Repair Loan.
How to Apply
Septic System Repair Loans are originated by participating lenders. For more information or to apply, contact a participating lender.
Questions? Contact our HomeOwnership Team at 888-843-6432 or homeownership@masshousing.com.
