Buy Fall River is a financing solution for low- and moderate-income homebuyers purchasing properties in the City of Fall River. It offers low down-payment options and fixed-rate financing, and is a good choice for borrowers looking for a safe purchase option.
Benefits
- One fixed monthly payment for the life of the loan
- Mortgage insurance, when required, carries mortgage payment protection, so borrowers are covered if they are ever unemployed
- After closing, your loan payment will be made to MassHousing, a customer oriented service provider
Features
- Up to 100% financing with no cash required on single families and condos
- 97% financing – 2 family properties
- 95% financing – 3 and 4 family properties
- Approved community second mortgages are allowed
Advantages
- Competitive interest rates
- Lower monthly payment with low mortgage insurance coverage requirement
- Even lower monthly mortgage insurance costs for low-income borrowers
- Safe, fixed-payment, solution for qualified borrowers