MassHousing, the state’s affordable housing bank, provided a record-breaking $965.3 million in financing in fiscal year 2012 as thousands of homeowners flocked to its new program for low cost, low down payment loans that don’t require mortgage insurance.

Lending for the Massachusetts Housing Finance Agency, an independently funded, quasi-public agency, increased by more than 21 percent in the 12 months following June 30, 2011, compared with the previous fiscal year, the agency said Monday.