Are you a member of the National Guard or Reserves or active-duty military? MassHousing's Operation Welcome Home loan program can help you buy your first home!
Operation Welcome Home provides affordable mortgage financing as well as closing cost and down payment assistance to help members of the Reserves and National Guard, active-duty military, Veterans and Gold Star Families achieve the dream of homeownership.
All Operation Welcome Home loans feature
- Affordable interest rates, fixed for the life of the loan
- Flexible underwriting and income limits
- Loan servicing by MassHousing. If you have a question, you’ll know who to call!
Operation Welcome Home borrowers can now take advantage of a closing cost credit for up to $2,500. Mortgage closing costs are an often overlooked expense. This credit is in addition to MassHousing's Down Payment Assistance Program.
Down Payment Assistance
Operation Welcome Home borrowers can qualify for a down payment assistance loan for up to 5% of the purchase price or $15,000, whichever is less. Learn more about Down Payment Assistance from MassHousing!
Mortgage Insurance (MI) Options
MassHousing offers a number of MI options for Operation Welcome Home loans
- MIPlus Mortgage Payment Protection helps repay your loan in case of deployment or unemployment.
- Discounted MI premiums available to eligible borrowers
- Monthly and single MI premiums available
Buying a home in need of repair?
An Operation Welcome Home loan may be used to finance the purchase and rehabilitation/repair of a home!
To qualify for an Operation Welcome Home loan, you must
- Be an active duty military member; member of the Reserves or National Guard; Veteran who served honorably; or Gold Star Family member
- Be a first-time homebuyer*
- Purchase a 1- to 4-family property in Massachusetts (including condominiums)
- Meet income limits, which vary by city or town
*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.
To learn more about Operation Welcome Home, please contact MassHousing's HomeOwnership team at 888.843.6432 or firstname.lastname@example.org.