mhpfinancing

MHP FINANCING

Sovereign Bank is the number one lender for MHP loans (Massachusetts Housing Partnership). This program has some great features:

First-time homebuyer
Only 3% down and only 1.5% must be from borrowers own funds
Perfect credit NOT required
NO PMI! (Private Mortgage Insurance)
Financing consists of 2 loans:
1st is a 30 year fixed for 77% of purchase price
2nd is interest only for 20% of purchase price

Those two together make up 97% of the purchase price
The remainder would be your 3% down

The MHP interest rate for both of these loans is the same. As of today, the MHP interest rate is 4.5% with NO POINTS! (As with all rates, this rate changes daily).

The contact information for this program is below. I have used Tony for many, many past clients. Please let him know that you got his name from me. He’ll let you know if you can qualify for this program and take good care of you!

Tony Geruso
Sovereign Bank
(c) 508-561-7716
Email: ageruso@sovereignbank.com

Don’t hesitate to contact me with questions about any aspect of the purchasing process . . .

For more information about the lofts please visit or contact us at:

www.RLofts.com – The Developer’s web site

www.HomeInfoSearch.com – Doug’s web site

Doug Stamm – Re/Max Landmark
HomeInfoSearch@verizon.net
(508) 341-0989

BUYERS | HOME INFORMATION | SELLERS | ABOUT US | FOR REALTORS

Message Center: (508) 341-0989 Toll Free: 888-224-7990
Fax: (978) 742-9906 Email:HomeInfoSearch@comcast.net

All Brokers/Salespersons represent the seller, not the buyer, in the marketing, negotiating and sale of property, unless otherwise disclosed. However, the Broker or Salesperson has an ethical and legal obligation to maintain honesty and fairness to the buyer in all transactions.

MHP FINANCING

Sovereign Bank is the number one lender for MHP loans (Massachusetts Housing Partnership). This program has some great features:

First-time homebuyer

Only 3% down and only 1.5% must be from borrowers own funds

Perfect credit NOT required

NO PMI! (Private Mortgage Insurance)

Financing consists of 2 loans:

1st is a 30 year fixed for 77% of purchase price

2nd is interest only for 20% of purchase price

Those two together make up 97% of the purchase price

The remainder would be your 3% down

The MHP interest rate for both of these loans is the same. As of today, the MHP interest rate is 4.5% with NO POINTS! (As with all rates, this rate changes daily).