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Town selects approved lender of fixed-rate loans

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MassHousing says that Commonwealth Mortgage has been selected to be an approved lender of the agency’s affordable, fixed-rate loans for low- and moderate-income home buyers. Based in Woburn, Commonwealth Mortgage serves Massachusetts and New Hampshire. A quasi-public authority, MassHousing works to expand affordable home ownership opportunities in Massachusetts but does not originate its own loans. As a MassHousing-approved lender, Commonwealth Mortgage will be able to originate MassHousing’s home mortgage loans for income-eligible home buyers. The loans have low down-payment options and competitive interest rates. “Commonwealth Mortgage is an experienced lender and we are pleased that they will now be offering MassHousing mortgage loans,” the agency’s executive director, Thomas R. Gleason, said in a prepared statement. “By now offering MassHousing’s suite of loan products, we know they will be even better equipped to serve low- and moderate-income borrowers who want to purchase or refinance a home.”

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