Want a low-downpayment mortgage — with NO mortgage insurance?
MassHousing, a quasi-state agency, is now offering such mortgage products. And they’re apparently going like hotcakes, quadrupling MassHousing’s mortgage-loan business.
Reading the story, its seems MassHousing is taking some risks with the no-mortgage insurance product. But not big risks, as long as they stick to their qualification standards. The program seems pretty solid.
File under: Not bad