First Time Home Buyer Programs
Our first-time home buyer (FTHB) programs are designed to help make your homeownership goals possible.
These programs are available for purchase financing anywhere within our lending area.
Contact a PeoplesBank Mortgage Loan Officer today or get pre-approved online.
Advantage
Apply Online
Terms
30 Year Fixed
7/1 ARM
10/1 ARM
7/1 ARM
10/1 ARM
Down Payment
As low as 3%1
Rates
Credit Toward Closing Costs
$5002
Property Types
1-3 Family Homes
Maximum Income Limit
$38,600
(Hampden, Hampshire, Franklin, Berkshire)
$48,700
(Hartford, Tolland)
Other Requirements
Home buyer workshop must be completed
Plus
Apply Online
Terms
30 Year Fixed
7/1 ARM
10/1 ARM
7/1 ARM
10/1 ARM
Down Payment
As low as 3%1
Rates
Credit Toward Closing Costs
$5002
Property Types
1-3 Family Homes
Maximum Income Limit
$92,640
(Hampden, Hampshire, Franklin, Berkshire)
$116,880
(Hartford, Tolland)
Other Requirements
Home buyer workshop must be completed
FTHB
Apply Online
Terms
30 Year Fixed
7/1 ARM
10/1 ARM
7/1 ARM
10/1 ARM
Down Payment
As low as 5%1
Rates
Property Types
1-3 Family Homes
Maximum Income Limit
No Income Limit
(Hampden, Hampshire, Franklin, Berkshire, Hartford, Tolland)
Other Requirements
Home buyer workshop must be completed
| FTHB Program | Advantage | Plus | FTHB |
|---|---|---|---|
| Apply Online | Apply Online | Apply Online | |
| Terms | 30 Year Fixed 7/1 ARM 10/1 ARM |
30 Year Fixed 7/1 ARM 10/1 ARM |
30 Year Fixed 7/1 ARM 10/1 ARM |
| Down Payment | As low as 3%1 | As low as 3%1 | As low as 5%1 |
| Rates | Check Rates | Check Rates | Check Rates |
| Credit Toward Closing Costs | $5002 | $5002 | |
| Property Types | 1-3 Family Homes | 1-3 Family Homes | 1-3 Family Homes |
| Maximum Income Limit | $38,600 (Hampden, Hampshire, Franklin, Berkshire) $48,700 (Hartford, Tolland) |
$92,640 (Hampden, Hampshire, Franklin, Berkshire) $116,880 (Hartford, Tolland) |
No Income Limit (Hampden, Hampshire, Franklin, Berkshire, Hartford, Tolland) |
| Other Requirements | Home buyer workshop must be completed | Home buyer workshop must be completed | Home buyer workshop must be completed |
Massachusetts Housing Partnership (MHP) loan programs
Affordable mortgage options for low-to-moderate-income, first-time home buyers in Massachusetts.
- Low-down payment requirements
- Discounted interest rates
- No private mortgage insurance
- Interest payment subsidy
- Financial assistance options for eligible borrowers
- Know how much house you can afford – no surprises
- Sellers prefer an approved buyer – separate your offer with a pre-approval letter
- Not all pre-approvals are equal – start with the trusted source
Legal Information & Disclosures
1 Single and two family properties only. Other options available. An eligible first-time home buyer includes any borrower who has not held an ownership interest in a principal residence at any time during the three years preceding the projected closing date of the mortgage to be financed by PeoplesBank.
2 Credit may not be combined with any other offer.
To qualify for a First-Time Home Buyer program, a bank approved home buyer workshop must be completed.