UMassFive Federal Credit Union Joins MassHousing Mortgage Program
HADLEY — UMassFive College Credit Union announced it is offering MassHousing loans to its members in partnership with Member Advantage Mortgage, its mortgage service organization. As a community-focused financial institution, UMassFive is always looking for more ways to make a positive difference in the financial lives of its members. Joining the MassHousing program contributes to this aim by helping to make homeownership accessible to more prospective buyers.
MassHousing is an independent agency created in 1966, charged with providing financing for affordable housing in Massachusetts. It offers proprietary products, including down-payment assistance; affordable, straightforward terms; and unique mortgage insurance. UMassFive and partner Member Advantage Mortgage are excited to offer these options to their membership.
“For the past several years, we as an institution have put an increased emphasis on helping our membership reach their homeownership goals,” said Lauren Duffy, UMassFive’s executive vice president and COO. “Through our collaborative partnership with Member Advantage Mortgage, being able to offer MassHousing products adds another crucial option for our members.”
While not everyone may be eligible for MassHousing loans, Duffy noted that “these benefits are more accessible than one might think.” She encourages anyone thinking about financing a home in Massachusetts to consider MassHousing and find out if they are eligible.
The MassHousing program offers benefits including down-payment assistance up to $50,000; loans with affordable rates that are fixed for the life of the loan; and MIPlus, a unique mortgage insurance that includes job-loss protection. MassHousing has already helped more than 70,000 Massachusetts residents buy a home in the Commonwealth.
To learn more about MassHousing and potential eligibility, visit umassfive.coop/mahousing.