E-Bulletins

SoftSecond unveils new, easy-to-use calculator BOSTON, March 18, 2008 --- In its ongoing effort to make the SoftSecond Loan Program easier to use for homebuyers and lenders, MHP has redesigned its online mortgage calculator, released new income limits for borrowers and has announced more details about MassWorks, a new employer-assisted mortgage program.

Second to none: MHP recognizes top SoftSecond partners BOSTON --- MHP's SoftSecond Loan Program looks back and ahead, recognizing four top partners for their work with first-time homebuyers and announcing new guidelines designed to make the program more accessible to homebuyers.

Community Based Housing & MHP financing Affordable housing developers should be aware of the new Community Based Housing Program (CBH), a $25 million program that provides permanent, deferred-payment 30-year loans for the development of affordable housing units for the disabled. Find out how this program works and how it can be combined with MHP financing.

MHP and Federal Home Loan Bank programs This ebulletin explains some of the creative ways in which the Massachusetts Housing Partnership has worked with Federal Home Loan Bank members to help affordable housing developers who are applying for grants and subsidized advances from the bank's Affordable Housing Program.

How communities can boost homeownership New Bedford is an example of a community that has used MHP's SoftSecond Loan Program in combination with federal funds to help lower-income first-time homebuyers. New Bedford uses HOME and CDBG funds to provide downpayment and closing cost assistance, rehabilation loans and gap financing, most often in combination with SoftSecond. In 2004, 25 SoftSecond loans were made in the city and the average borrower income was $32,000.