MassHousing’s Refinance Program is an opportunity for current MassHousing borrowers to refinance directly with us, possibily lowering their interest rate or monthly payment without switching mortgage servicers.
The qualifying interest rate is dependent on the market. Closing costs are competitive and vary for each refinance loan.
If you refinance your mortgage loan with MassHousing you have the potential to lower the interest rate on your mortgage and lower your monthly mortgage payment. In addition, you'll continue to receive high-level support from our HomeOwnership Mortgage Service Center Representatives.
Yes, the down payment assistance loan balance will be consolidated with your first mortgage loan. You will have one monthly mortgage payment after the refinance.
The MassHousing Refinance Program is for current MassHousing Mortgage borrowers who
Additional eligibility requirements apply.
Unfortunately, owning another residential property would disqualify you for MassHousing's refinance program.
The first step is to complete the refinance eligibility form. Once the form has been submitted, MassHousing will determine whether an appraisal is required as part of its loan review process.
Yes, MassHousing will service your new mortgage loan. You will be able to make monthly payments online through MassHousing Connect and will receive the same high-level customer service from MassHousing’s HomeOwnership Mortgage Service Center Representatives.
Refinancing is like applying for a new mortgage loan, and we must treat you as a new borrower. The refinance eligibility form is separate from MassHousing Connect, so you will need to create a new username and password.