SoftSecond Guidelines

Who is eligible for a SoftSecond Loan?

• Be a first-time homebuyer (not have owned a home in the prior three years, with some exceptions)
• Have completed a CHAPA approved pre-purchase homebuyer education course (post- within one year of closing) Click here for a list of CHAPA approved homebuyer education courses
• Not exceed the SSLP income limits and asset test (see links below)
• Use the property as their primary residence

SoftSecond Loan Program Resources:

Choose a link below for more information about SoftSecond Underwriting Guidelines:

1. SoftSecond Term Sheet
2. SoftSecond program guidelines
3. Steps to processing a SoftSecond Loan

Borrower Documents (used at closing)

1. Disclosure Statement
2. Second Note
3. Second Mortgage
4. Subsidy Agreement
5. Subsidy Note
6. Subsidy Mortgage
7. HomeSafe Counseling Requirement Letter

For more information, email SoftSecond 617-330-9944 and ask for any of the following SoftSecond Program associates:

Virginia de Freitas Battersby - x292  |  Ashleigh DeSimone - x254  |  Ircania Valera - x255