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Operation Welcome Home

Operation Welcome Home's first borrowers, Courtney Messenheimer and Marine Corps Veteran Michael Stearns

The Operation Welcome Home mortgage program supports veterans, active-duty military, members of the Reserves and National Guard, and Gold Star Families in achieving the dream of homeownership.

The program combines a traditional 97% LTV MassHousing Mortgage loan with a zero-interest deferred downpayment and/or closing cost assistance loan of up to 3%.

How to Apply

Operation Welcome Home loans are made available through a network of approved lenders.

Eligibility

To qualify for an Operation Welcome Home loan, you must

  • Be an active duty military member; Veteran who served honorably; member of the Reserves or National Guard; or a Gold Star Family member
  • Be a first time homebuyer*
  • Purchase a 1- to 3-family property in Massachusetts (including condominiums)
  • Meet income and loan limits

*You do not have to be a first-time homebuyer if you are purchasing a home in Boston, Chelsea, Cambridge, Everett, Fall River, Lawrence, Lynn, North Adams and Somerville.

Program Features

  • Competitive, fixed interest rates and 30-year terms with flexible credit and qualifying requirements
  • A 0% interest, deferred down payment or closing cost assistance loan option of up to 3% for eligible borrowers
  • Up to 97% loan-to-value (LTV) first mortgage financing on single-family homes and condos
  • Up to 95% first mortgage financing on two-, and three-family homes with as little as 3% required from the borrower
  • Borrower or lender paid mortgage insurance options are available
  • Loans insured by MassHousing feature MIPlus™ Mortgage Payment Protection benefit, which helps repay your loan if you are deployed or lose your job, or for Reservists and National Guard Members called to active duty
  • A Purchase & Rehabilitation option is available

To learn more about Operation Welcome Home, contact a participating lender.

Quick Links

First Mortgage Loans

Interest Rates

MassHousing rates change daily. Please contact a participating lender for the current MassHousing interest rate.

Mortgage Insurance

For loans that require it, MassHousing offers several mortgage insurance options.

 Operation Welcome Home Links
Document  Governor Baker Announces New Home Mortgage Loan Program for Massa...
Document  Operation Welcome Home Homebuyer Fact Sheet
Web Link  Massachusetts Program Welcomes Veterans 'Home' (NECN)
Community Page  Home Buyers (Income and Loan Limits)

Still Have Questions?

A photo of MassHousing's Rich Petisce

Do you have questions about the homebuying process or about our products and programs for homebuyers? Ask Rich, MassHousing's resident mortgage and homebuying expert!

TEL: 888.843.6432 | Email

Online Homebuyer Counseling

Learn about MassHousing's online homebuyer education course, The Road Home.