JSMedia – The MHP ONE Mortgage program recently held its annual partner appreciation event. The annual gala was virtual because of COVID-19, but dozens of lenders participated, including many nonprofits. The event was focused on addressing racial disparities in mortgage lending and recognized the state’s top lenders. This is the first year the ONE Mortgage program has given awards to all participating lenders. This is a great achievement for Massachusetts and MHP.
Santander, ONE mortgage’s largest lender, was honored with the HomeSafe award. Executive Director Gina Govoni presented the honor to Waltz and gave citations to Senators John Kerry and Scott Brown. About 25 community members were on hand to recognize the top mortgage lenders in the state. MHP President Michael Hanson also attended the event to give a shout-out to ONE mortgage lender MHP and the MHC.
The MHP recognizes the top ONE Mortgage lenders in Massachusetts. The ONE mortgage program is the state’s most affordable mortgage product and has helped more than 21,000 first-time homebuyers purchase their first homes. According to MHP, nearly half of ONE Mortgage loan recipients are people of color. More than forty participating lenders in Massachusetts offer the program, including Leader Bank. The MHP will continue to recognize MHP’s top ONE lenders in the coming year.
Massachusetts ONE Mortgage Program Honors Top Massachusetts Lenders
The MHP has also recognized the top ONE Mortgage lenders in the state. The Marlborough-based lender, St. Mary’s Credit Union, made 47 loans and financed $5.6 million in ONE Mortgages in FY19. A new partner, Northern Bank and Trust, is located in Lowell and made twenty-six loans totaling nearly $4 million. They received an award for their outstanding contribution to the program.
Among the top ONE Mortgage lenders in the state are St. Mary’s Credit Union in Marlborough and Freedom Credit Union in Lowell. In FY19, both lenders made more than 20,000 loans. The program has recognized the best ONE mortgage lender in Massachusetts, as well as the best ONE Mortgage lending service in each of these categories. The MHP honors the top ONE mortgage providers in each state.
Leader Bank is a member of the ONE mortgage program. Its three branches in Arlington and Cambridge are part of the state’s top ONE Mortgage lender awards. The MHP also honored the top ONE Mortgage lender in New Hampshire and Rhode Island. The ONE program has helped Massachusetts residents achieve affordable homeownership and is a great source of community development. Most of the Massachusetts borrowers learn about the program through community-based organizations.
The ONE Mortgage program is one of the most important programs in Massachusetts, and it helps disadvantaged homeowners access affordable mortgages. The ONE Mortgage program was created in 1991 and has helped over 22,000 first-time homeowners buy a home in Massachusetts. MHP’s ONE loan is an ideal choice for individuals with a lower income because it is affordable. In fact, the average household income of a first-time buyer is $50,000, and the MHP has the largest number of ONE and SoftSecond borrowers in the state.
Citizens Bank was named one of the top ONE mortgage lenders in Massachusetts for the fourth consecutive year. The company made 185 loans in FY 2020, which was a record number of first-time homebuyers. These loans totaled $50 million in private mortgage financing. This was an increase over the previous year. SoftSecond borrowers in Massachusetts were eligible to receive more than $200,000 in the past year.
SoftSecond mortgages have been very successful in Massachusetts, where they are often made to borrowers with lower incomes. They are also a good choice for first-time homebuyers, as these loans require little to no private mortgage insurance. In addition, they don’t require private mortgage insurance and provide comprehensive pre-purchase education and post-purchase counseling. Some of the top ONE mortgage lenders in Massachusetts also offer specialized services to support low-income borrowers.