Massachusetts · Insurance benefit

MassHousing MI Plus

Free job-loss protection built into loan

Mortgage insurance that covers up to 6 months of payments ($2K/month) if you lose your job. Included free.

Massachusetts' Mortgage Credit Certificate provides a federal tax credit on annual mortgage interest. In a state with high housing costs and high state income taxes, the federal MCC credit provides meaningful relief. Stacks with MassHousing's DPA for combined benefits.

AmountFree job-loss protection built into loan
TypeInsurance benefit
Available inMassachusetts
First-time buyer requiredNo
Minimum credit score640
Multi-unit eligibleSingle-family only

Programs that pair with this

FHA Loan Saves ~$33,000 on a $200K home vs 20% down
Federal · Subsidized loan
VA Loan $0 down + no monthly mortgage insurance
Federal · Federal benefit
NACA Program $0 down + $0 closing + $0 PMI + below-market rate
National · Nonprofit program
MassHousing DPA $30,000
Massachusetts · Deferred 0% loan
MassHousing MassDREAMS $50,000
MA Gateway Cities · Deferred 0% loan
ONE Mortgage Program 3% down + no PMI + subsidized rate
Massachusetts · Subsidized loan
All Massachusetts programs →

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