The Operation Welcome Home mortgage program supports members of the Reserves and National Guard, active-duty military, Veterans and Gold Star Families in achieving the dream of homeownership.
All Operation Welcome Home loans feature:
- Affordable interest rates, fixed for the life of the loan
- Flexible underwriting and income limits
- Loan servicing by MassHousing. If you have a question, you’ll know who to call!
$2,500 Closing Cost Credit
For a limited time, Operation Welcome Home borrowers can take advantage of a closing cost credit for up to $2,500. This credit is in addition to MassHousing’s Down Payment Assistance Program.
Down Payment Assistance
Operation Welcome Home borrowers can qualify for a down payment assistance loan for up to 3% of the purchase price or $12,000, whichever is less. Learn more about Down Payment Assistance from MassHousing!
Mortgage Insurance (MI) Options
MassHousing offers a number of MI options for Operation Welcome Home loans:
- MIPlus Mortgage Payment Protection, which helps repay your loan if you are deployed or lose your job, or for Reservists and National Guard Members called to active duty
- Discounted MI premiums available to eligible borrowers
- Monthly and single MI premiums available
Buying a home in need of repair?
An Operation Welcome Home loan may be used to finance the purchase and rehabilitation/repair of a home!
To qualify for an Operation Welcome Home loan, you must:
- Be an active duty military member; Veteran who served honorably; member of the Reserves or National Guard; or a Gold Star Family member
- Be a first-time homebuyer*
- Purchase a 1- to 4-family property in Massachusetts (including condominiums)
- Meet income and loan limits
*You do not have to be a first-time home buyer if you are purchasing a home in Boston, Chelsea, Cambridge, Everett, Fall River, Lawrence, Lynn, North Adams and Somerville.