MassHousing Home Buyer Counseling Program

MassHousing Home Buyer Counseling Program

One program that I like to recommend to first time buyers is the MassHousing-approved home buyer counseling program.  These classes, while not free, are extremely reasonable and make you eligible for a loan with both a very low down payment (as low as 3%) with no mortgage insurance.  As FHA Mortgage Insurance is charged at a rate of 1.35% of the outstanding loan balance, this can save you quite a bit of money.  They are offered all over the State.

For your time and money (ten dollars was the fee at a recent class in Chicopee), the potential savings is huge – On a mortgage with a $100,000 outstanding balance, your monthly FHA Mortgage Interest payment would be approximately $112.50.  Taking this course, and applying for a loan via the course provider will save you this fee, each month. Plus you learn more about the home buying process, financing, and home ownership.

With great confidence I strongly recommend these classes for any first time buyer…

The webpage to find out where and when classes will be offered in your area is as follows:

http://www.chapa.org/looking-for-housing/homebuyer-workshops

I am in no way, shape, or form related to, or benefit from recommending this.  If you do choose to work with me when it comes time to buy a home, I do get the benefit of an educated client (the best kind)…

As always, if you have any questions, or just want to pick my brain, email, call, or text…

Jeff

413-564-9468