Operation Welcome Home for Veterans

You have served your country, now we hope this powerful mortgage product will serve you to make the dream of home-ownership a reality.

The Operation Welcome Home mortgage program supports veterans, active-duty military, members of the Reserves and National Guard, and Gold Star Families in achieving the dream of home ownership.

The program combines a traditional Mass Housing Mortgage loan with a deferred down payment and/or closing cost assistance loan.

Eligibility

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 home buyer
  • Purchase a 1- to 3-family property in Massachusetts (including condominiums)
  • Meet income and loan limits

Program Features

  • Competitive, fixed interest rates with flexible credit and qualifying requirements
  • A deferred down payment or closing cost assistance loan option for eligible borrowers
  • Borrower or lender paid mortgage insurance options are available
  • Loans insured by MassHousing feature MIPlus™ Mortgage Payment Protection benefit, which helps repay your loan if you are deployed or lose your job, or for Reservists and National Guard Members called to active duty
  • Rehabilitation option is available
  • No Residual Income test used to qualify
  • Non-Spouse Co-Borrowers allowed
  • Projected Rental Income used to qualify
  • Payments are made directly to Mass-Housing in Boston
  • Condos follow Fannie Mae Guidelines, not FHA/VA

This program is a 97% loan at a 30 year fixed rate.  It has a second mortgage of 3% that is deferred and no payments are required.  This allows for 100% financing and has the No Mortgage Insurance option as well.

For more details about Operation Welcome Home call or email me anytime.

Bill Nickerson

2 thoughts on “Operation Welcome Home for Veterans

  1. Good evening ! I am retired and would like to know about this program .my VA rating is 100% employability and I am also receiving SSI benefits but my credit score is @ 580 due to my injuries I had to stop working in 2016.in which it cost my credit score to drop

    Like

    1. Hi Jose, Thank you very much for your question. Can you email me at wnickerson@fidelitybankonline,com? I would like to know more about your situation and what we can do for you. Thank you very much! Bill

      Like

Please leave a reply. Thank you! Bill

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: