Learn more about MassDREAMS, a new grant program for eligible first-time homebuyers. MORE

First-time buyer? Check out ONE Mortgage

To our homeowners – Help is available if you are worried about paying your mortgage. Your first call should be to your lender or loan servicer. SoftSecond & ONE Mortgage homeowners have access to free counseling by emailing onemortgage@mhp.net. Also, the Massachusetts Homeowner Assistance Fund (Mass HAF) is accepting applications from homeowners who are at least three months behind on their mortgage payments due to COVID-19. More information at www.massmortgagehelp.org.

A nuestros propietarios: se les informa que hay ayuda disponible en caso de que no pueda pagar su hipoteca. Su primera llamada debe ser a su prestamista o administrador de préstamos. Si es propietario de Vivienda atraves del programa Soft Second o ONE Mortgage califica para obtener asesoramiento gratuito, enviando un correo electrónico a ONE Mortgage. Además, el Fondo de Asistencia para Propietarios de Vivienda de Massachusetts (Mass HAF) está aceptando solicitudes de propietarios que tienen al menos tres meses de retraso en los pagos de su hipoteca debido a COVID-19. Para mas información por favor accese el siguiente sitio web: www.massmortgagehelp.org.

Aos nossos proprietários - Vos queremos informar de que se estiver preocupado em pagar a sua hipoteca, a ajuda já está disponível. O seu primeiro contato e chamada deve ser para o seu credor ou prestador de serviços de empréstimo. Os proprietários de hipotecas SoftSecond & ONE Mortgage têm acesso a aconselhamento gratuito pelo e-mail onemortgage@mhp.net. Além disso, o Fundo de Assistência ao Proprietário de Massachusetts (Mass HAF) está a aceitar aplicações de proprietários que estão com pelo menos três meses de atraso nos seus pagamentos de hipoteca devido ao COVID-19. Mais informações podem ser encontradas em www.massmortgagehelp.org.

ONE Mortgage

If you are a first-time homebuyer, the ONE Mortgage Program is for you. ONE Mortgage offers you the comfort of knowing your mortgage is financially sustainable. Here are five reasons why you should choose ONE Mortgage:

  • As little as 3% down
  • Low, fixed interest rate
  • No Private Mortgage Insurance (PMI)
  • Financial assistance, for eligible buyers
  • An investment in your future

How It Works

  1. Take a homebuyer education class
    Find a class near you.
  2. Contact a Participating Lender
    They'll help you get pre-qualified for the ONE Mortgage Program. Find a lender near you.
  3. Buy your first home!
    If you have questions, call us toll free at 1-800-752-7131 or email us at ONEmortgage@mhp.net

Estimate how much you can buy with the ONE Mortgage Calculator

1. Getting Started
2. Income & Debt
3. Financing
4. Monthly Costs
5. Results

1 Getting Started

First, we need to know a few things to help estimate your mortgage payment and costs.

Buying a three-family property?

You must participate in one-on-one counseling with an MHP-approved agency before closing.


We’ll use this to estimate taxes and insurance for you.

Also, program income limits vary by community.


Include everyone who plans to occupy your property.
Don’t forget children or other dependents

2 Income & Debt

Your total income and existing debt help determine how much you can borrow.

$0 ${ toMoney(maxHouseholdIncome) }


This is looking at your annual income before taxes or deductions.

Include income from all adult household members.

$0 $2000


Car payments, student loans, and credit cards are the most common household debt.

3 Financing

Your monthly principal and interest payments will depend on the property purchase price, your down payment, and the interest rate.

$0 ${ toMoney(maxPurchasePrice) }



Must be at least 3% of the purchase price (with 1.5% from your own savings).

If you are buying a three-family, you’ll need to put 5% down (with 3% from your own savings).

This week, ONE Mortgage rates are around ${ defaultInterestRate }%.
This varies by lender, so please contact your lender for today’s rate.


ONE borrowers benefit from below market interest rates, as shown to the left, but rates can vary by lender.

4 Monthly Costs

Taxes, insurance, and condo fees all factor into how much home you can afford.

5 Results

Here’s your estimate, and what you need to do next.

Estimated Monthly Payment: ${ calculation.one.piti }

This number includes your principal, interest, taxes, and insurance (PITI).
This saves you ${ calculation.one.monthly_savings } per month over a conventional 30-year mortgage.

Estimated Purchase Price: ${ calculation.one.purchase_price }

This increases your purchasing power by ${ calculation.one.price_difference } over a conventional 30-year mortgage.

What’s Next:

  1. Enroll in an Approved Pre-Purchase Homebuyer Education Class
  2. Contact a Participating Lender
  3. Get Down Payment Help

Mortgage Details:

ONE Mortgage Conventional
Property Type ${ params.property_type }
Community ${ community.name }
Household Size ${ params.household_size }
Purchase Price ${ calculation.one.purchase_price } ${ calculation.conventional.purchase_price }
Down Payment ${ calculation.one.down_payment } ${ calculation.conventional.down_payment }
Mortgage Amount ${ calculation.one.amount_financed } ${ calculation.conventional.amount_financed }
Interest Rate ${ calculation.one.interest_rate } ${ calculation.conventional.interest_rate }
Principal and Interest ${ calculation.one.principal } ${ calculation.conventional.principal }
Property Taxes (per month) ${ calculation.one.monthly_property_tax } ${ calculation.conventional.monthly_property_tax }
Homeowner's Insurance (per month) ${ calculation.one.monthly_insurance } ${ calculation.conventional.monthly_insurance }
Private Mortgage Insurance $0 ${ calculation.conventional.pmi }
Condo Fee ${ calculation.one.hoa_fees } ${ calculation.conventional.hoa_fees }
MHP Interest Subsidy -${ calculation.one.one_subsidy_1 } $0
Total Monthly Mortgage Payment (PITI) ${ calculation.one.piti } ${ calculation.conventional.piti }
Monthly Savings over a conventional 30-year fixed mortgage ${ calculation.one.monthly_savings }
Increased buying power with ONE Mortgage ${ calculation.one.price_difference }

Payment Information:

Years Principal & Interest MHP Subsidy¹ Property Taxes, Insurance & Condo Fees Total Monthly ONE Mortgage Payment (PITI)
1-4 ${ calculation.one.principal } -${ calculation.one.one_subsidy_1 } ${ calculation.one.tax_insurance_fees } ${ calculation.one.piti }
5 ${ calculation.one.principal } -${ calculation.one.one_subsidy_5 } ${ calculation.one.tax_insurance_fees } ${ calculation.one.piti_5 }
6 ${ calculation.one.principal } -${ calculation.one.one_subsidy_6 } ${ calculation.one.tax_insurance_fees } ${ calculation.one.piti_6 }
7 ${ calculation.one.principal } -${ calculation.one.one_subsidy_7 } ${ calculation.one.tax_insurance_fees } ${ calculation.one.piti_7 }
8-30 ${ calculation.one.principal } -${ calculation.one.one_subsidy_8 } ${ calculation.one.tax_insurance_fees } ${ calculation.one.piti_8 }

¹ The MHP interest subsidy gradually decreases over the first seven years of your loan.
Click here to learn more about how subsidy works.

Use our Homebuyer Resources to sign up for a class, locate down payment assistance, and find a lender.

Other Things You Need to Know:

Requirements to Qualify

In order to qualify for the ONE Mortgage Program, you must also meet the following requirements:

  1. Be a first-time homebuyer. This means that you have not owned a home in the three years prior to applying to the program.
  2. Not have more than $75,000 in total household assets. The asset test excludes retirement savings, government-approved college savings plans and municipal down payment or closing cost assistance programs.
  3. Meet the credit and underwriting requirements of a participating ONE Mortgage lender.


This estimate is based on a conservative evaluation of your financial picture. It assumes that you will pay no more than one third of your gross monthly income toward housing costs. Exceptions may apply. Contact your lender to be pre-approved for the ONE Mortgage Program.

These loan assumptions do not meet program requirements.

This specific loan can’t be financed by ONE Mortgage because:

Call us at 1-800-752-7131 for help, Mon-Fri, 9am–5pm.

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