Financing Assistance:
Access Low-cost Loans through HAPHousing

HAPHousing can help you access a variety of low-cost or specialized home financing through these programs:

“Soft Second” Mortgage Loans

The Soft Second™ Loan Program gives first-time homebuyers increased purchasing power through two mortgages – a conventional first mortgage and a subsidized second one.

Dividing the first mortgage into two parts lowers the first mortgage and allows participating homebuyers to avoid private mortgage insurance, reducing overall monthly expenses. The subsidy does not need to be repaid until the home is sold.

Soft Second loans are available through HAPHousing and participating lenders. Download a fact sheet now or call 413-233-1615 for more information. For more specific information on the Soft Second loan program and an easy-to-use calculator, visit the Massachusetts Housing Partnership website.

Downpayment Help

HAPHousing’s American Dream Downpayment Assistance Program provides direct financial assistance to help eligible homebuyers cover downpayment and closing costs.

If you want to buy a home in Holyoke, Chicopee or Westfield, download a fact sheet.

If you want to buy a home in Springfield, visit the Springfield City Hall website.

If you want to buy a home in any town in Hampden or Hampshire Counties except Springfield, Holyoke, Chicopee, or Westfield, download a fact sheet or call 413-233-1615 for more information.

Get the Lead Out: A MassHousing Affordable Loan Program

Low-cost financing to address lead-based paint hazards is available for one- to four-family homes through MassHousing. Owner-occupants may be eligible for a 0% deferred payment loan that is due only upon the sale, transfer or refinancing of the home. Call 413-233-1614 or visit the MassHousing website for more information.