Over twenty years ago, community groups, banks, and public officials came together to create an affordable mortgage program to respond to the 1989 Federal Reserve Bank of Boston study on racial disparities. 17,000 sustainable mortgages later, the ONE Mortgage is working to close the still stubbornly high racial homeownership gap in Massachusetts. Please support MAHA's work in helping to close the gap. Donate today.
Twenty-six Mortgage Lenders, Over 1,000 First Time Homebuyers Utilize Mass Homeownership Compact in its First Six Months
Dorchester – Friday, June 13, 2014 – Governor Deval Patrick today stood with MAHA President Esther Maycock-Thorne, recent MAHA homeowner Angelina Goncalves, and newly elected state reprentative Evandro Carvalho to announce new support for homeownership opportunities for first-time homebuyers across the Commonwealth, including the production of new affordable homes and access to reduced-cost mortgages through various lenders. The announcement comes as 26 mortgage lenders and over 1,000 first time homebuyers have signed on and utilized the Mass Homeownership Compact, a commitment among lenders to originate mortgage loans to first-time home buyers with household incomes below the area median income.
“Investing in housing generates jobs, grows local businesses and strengthens our communities,” said Governor Patrick. “Supporting reasonably priced housing for moderate and middle income families, along with our strategy of investing in education, innovation and infrastructure, will fuel sustainable long term economic growth.”
MAHAMassachusetts Affordable Housing Alliance
1803 Dorchester Avenue
Dorchester, MA 02124
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By phone: 617-822-9100
By fax: 617-265-7503