One Source Program

OneSource was developed by MHP and the Massachusetts Housing Investment Corporation (MHIC) to provide borrowers with construction and permanent financing, using a single set of loan documents and one attorney, saving the borrower time and money.

For MHP, it's a way to help borrowers who want MHP permanent financing but also need a construction loan. MHP has done OneSource with MHIC and other lenders such as Bank of America, Citizens Bank, Wainright Bank, Cape Cod Five, and Boston Community Capital.

With OneSource, there's a coordinated closing between the construction lender and MHP, with one attorney reviewing a single set of construction and permanent loan documents. At the end of construction, there is a highly simplified “mini-closing” that allows MHP to take over the lender's role from the construction lender.

Eligible OneSource projects include acquisition and rehabilitation, refinancing and rehabilitation, and new construction.

For more information, call Director of Lending David Rockwell at 617-330-9944x222