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The Sabourins

A photo of Kyle and Kaleigh Sabourin

© Mike Ritter

Kyle and Kaleigh Sabourin were in perfect position to act when the Swampscott home they wanted to purchase was offered at a price they could afford.

Both teachers in the Lynn Public Schools, Kyle, 24, and Kaleigh, 26, had completed a homebuyer education course before they started looking at homes. Around the time of their wedding and just before they left for their honeymoon, they looked at a home they really liked but it was slightly out of their price range.

After returning from their honeymoon, they learned the property had dropped in price and quickly put in an offer and then called Sean McCarthy at Salem Five.

"We had done the (homebuyer education) class and we knew what we wanted," said Kaleigh. "We had looked at the house the day before we left on our honeymoon and then we found out it had dropped in price after we got back. We called Sean right away."

McCarthy had previously met with the Sabourins and knew what they wanted and what they could afford for a home loan. They applied for a MassHousing Mortgage with Lender Paid Mortgage Insurance (LPMI) and were able to put down 5% of the purchase price.

The process went quickly and smoothly and the Sabourins were soon first-time homeowners.

"We put in the offer and it went quick," said Kaleigh. "Everything with the loan and the closing went quickly and without any problems."

Soon the couple was standing in their own home in the community where they wanted to live.

"We were so excited," said Kaleigh. "My husband started ripping out a carpet and doing a lot of work to make it what we wanted. It's everything we wanted."

By taking advantage of MassHousing's LPMI loan, the cost of their mortgage insurance was wrapped into their monthly mortgage payment, eliminating a separate Private Mortgage Insurance Payment (PMI) and saving them money over the life of their 30-year, fixed rate loan. The Sabourins mortgage is also covered by MassHousing's signature MIPlus™ mortgage insurance which will pay a borrower's monthly mortgage payment for up to six months in the event of a job loss at no additional cost to them.

"The Lender Paid MI loan is huge for us," said Kaleigh. "It was perfect."

The Sabourins were impressed with their home buying experience with MassHousing and Salem Five.

"I would refer them to anyone that I could," she said. "It worked out very well for us."

"The Sabourins were a pleasure to work with," said McCarthy. "They were the perfect fit for a MassHousing loan."