The local and state programs listed below are available to help finance home-ownership:

IHT – SOFT SECOND LOAN PROGRAM – The Island Housing Trust administers a soft second loan program for leasehold properties in certain island towns up to $15,000. The 3% loan is payable when the homeowner refinances their house or sells.

EQUITY BUILDER PROGRAM – The Federal Home Loan Bank of Boston’s Equity Builder Program offers members grants to provide households with incomes at or below 80 percent of the area median income with down-payment, closing-cost, home-buyer counseling, and rehabilitation assistance.  Contact any Federal Home Loan Bank member bank for more information.

MHP — ONE MORTGAGE PROGRAM — Low down payment low interest loans for first time homebuyers are available.  Contact Massachusetts Housing Partnership at 800-752-7131.

USDA RURAL DEVELOPMENT DIRECT LOAN PROGRAM — Rural Housing Direct Loans are directly funded by the federal government. These loans are available for low and moderate-income households towards homeownership. Applicants may obtain 100% financing to purchase an existing dwelling, purchase a site and construct a dwelling, or purchase newly constructed dwellings located in rural areas. The purpose is to provide financing at reasonable rates and terms with no down payment. Mortgage payments are based on the household’s adjusted income. Rural Development offices are located in West Wareham and can be reached at (508) 295-5151.

MASSHOUSING MORTGAE WITH NO MI — MassHousing offer provides below market financing for purchase housing for low to middle income households and individuals.

NACA (Neighborhood Assistance Corporation of America) — NACA is a nonprofit corporation whose goal is to stabilize neighborhoods and maximize homeownership opportunities for working people. NACA offers below market interest rate financing with favorable terms for income-qualified households. NACA offices are located in Boston and can be reached at (888) 302-NACA.