MassHousing partners with Mortgage Loan Originators around Massachusetts who have helped thousands of people obtain the benefits of owning their own homes with MassHousing's safe, affordable home loan products.

Our partner lender Bluestone Bank recently made the dream of homeownership a reality for a woman who never thought she would be able to own her own home.

Sue Jacobson, the Affordable Housing and Trust Director for the Town of Norfolk, referred her client to Mary Buck, a Vice President and Area Sales Manager at Bluestone Bank. An affordable new construction condominium was being built in the town and was due to be completed within the year.

Mary worked with Bluestone Underwriter Lisa Noseworthy on solutions for a successful home purchase. The buyer had minimal funds for a down payment and struggled to qualify under traditional low down payment financing with mortgage insurance. The solution was a fixed-rate MassHousing Mortgage with $25,000 in down payment assistance financing. Mary and the Bluestone Bank mortgage team also secured the buyer a $50,000 grant through the Federal Home Loan Bank Boston Lift Up Homeownership program to be put towards her down payment.

Due to the partnership that Bluestone Bank has with MassHousing and the Federal Home Loan Bank Boston, she was able to purchase her first home and is thrilled to be a homeowner and have a home for her family.

"It was a long process due to the fact that the home was new construction and the market (with rising interest rates) did not cooperate, but we worked closely with our client and were able to finally make this happen," said Mary. "Personally, it is extremely rewarding to help first-time buyers achieve homeownership, especially in today's market."

MassHousing finances mortgages for creditworthy homebuyers in Massachusetts with incomes up to 135 percent of the area median income. The Agency serves low-, moderate- and middle-income borrowers by partnering with a network of more than 80 lending partners across the state. Partner lenders originate and close the Agency's loans, which are then purchased and serviced directly by MassHousing.

MassHousing offers fixed interest rate mortgages, down payment assistance options, and job-loss protection insurance at no extra cost.

"Bluestone Bank shares MassHousing's mission of helping Massachusetts families achieve all the benefits of owning their own home by using MassHousing's safe, affordable home loan products," said MassHousing Vice President of Homeownership Programs Mounzer Aylouche. "We could not fulfill our mission without these dedicated lending partners. We commend them for their professionalism and expertise in making the dream of homeownership a reality."