Saving $ with the ONE Mortgage Program

How much can I save?

A lot! Our mortgage programs are designed to save most homebuyers hundreds of dollars per month over more conventional mortgages. In many cases, that can make the difference in being able to afford the home or getting denied. Here is one example for a $200,000 house with a $7,000 downpayment.

FHA ONE Mortgage with
No Subsidy
ONE Mortgage with
Full Subsidy
4.750% interest rate 3.750% interest rate 3.750% interest rate
$1,204.34/month $838.02/month $744.27/month
ONE Mortgage Savings $366.32/month $460.07/month

What about other mortgages?

The ONE Mortgage Program is the most affordable mortgage by far if you make less than the area median income but there are other good products out there, specifically for homebuyers making above ONE Mortgage Program income limits. MassHousing offers fixed-rate programs with a higher income limit for buyers than the ONE Mortgage. And the FHA offers fixed-rate loans for homebuyers whose credit score may not be high enough to qualify for one of the above products.

MAHA encourages all potential borrowers to evaluate whether working over a number of months or even years to improve their credit score - in order to qualify for a better loan - is a preferable option to obtaining a higher interest rate mortgage immediately.

Always ask your lender for ALL of the programs for first time homebuyers. And always shop around at multiple lenders before committing to one lender or one program.


Massachusetts Affordable Housing Alliance
1803 Dorchester Avenue
Dorchester, MA 02124
By email:
By phone: 617-822-9100
By fax: 617-265-7503