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Soft-Second Mortgage Program – Massachusetts

Developed by a task force of the Massachusetts Bankers Association in 1990, the Soft Second Loan Program (SSLP) is a joint initiative between the public and private sectors to increase homeownership opportunities for low and moderate income first-time homebuyers. The program makes purchasing a home easier by combining a conventional first mortgage with a publicly subsidized second mortgage.

The objective of the program is to provide "soft second" loans to low- and moderate-income first-time homebuyers to reduce their first mortgage amounts and to lower their initial monthly costs so that they can purchase a home.

The program requires a minimum 5% down payment.

For further information:

Contact the Massachusetts Housing Partnership at (617) 338-7868 or the Department of Housing and Community Development at (617) 727-7824.

See also:

Homeownership Opportunities - Massachusetts

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