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Search Resources for MHP publications, policy work, multifamily loan & 40B guidelines, and info about ONE Mortgage for first-time buyers.

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January

1

2020

Impact of the ONE Mortgage Program

Read about the origins and history of ONE Mortgage, and how its unique features have helped over 22,000 low- and moderate-income families buy their first home, half to people of color. The program was created in 1990 to address findings of racial discrimination in mortgage lending in Boston and was soon offered across statewide. It is successful because it breaks down barriers that used to prevent creditworthy families from buying a home, especially minority families and those living in historically under-served neighborhoods

December

26

2019

Watertown 1.5% "safe harbor" ruling from Ch. 40B

On Friday December 20, 2019, the state Dept. of Housing and Community Development issued a so-called "1.5 percent ruling" concerning an application by a developer for a Ch. 40B comprehensive land use permit in Watertown. DHCD found that Watertown is in compliance with the requirement that 1.5 percent of the town's land that is zoned for residential, commercial or industrial use is being used for affordable housing. Thus, the town has achieved "safe harbor" from having to accept Ch. 40B permit applications. This is the first community to achieve the 1.5 percent since new regulations went into effect in 2008. Prior to this, towns that have achieved "safe harbor" have done so by having 10 percent of its housing affordable.

October

30

2019

Building wealth: Comparative study of ONE Mortgage and FHA loans

This paper compares actual wealth building outcomes in MHP's subsidized ONE Mortgage to hypothetical outcomes for a borrower who received a comparable Federal Housing Administration (FHA) insured mortgage. The paper - authored by MHP - illustrates how ONE Mortgage loans in general have much lower monthly payments, resulting in greater overall benefits to borrowers. This paper was originally presented at a national symposium hosted by the Harvard Joint Center for Housing Studies and Fannie Mae in March 2019.

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