Program Elements - Incentives

Buy Brockton - Program Elements - Incentives

Incentives

What are the benefits of the BuyBrockton Mortgage Program?

Up to 97% financing at a below market 30 year fixed rate with safe and affordable underwriting guidelines and some lenders offer a rehabilitation financing option. This program also includes an affordable mortgage insurance premium for those borrowers that are putting less than 20% down through MassHousing MIPlus mortgage insurance program. The mortgage insurance carries job loss insurance policies for borrowers who become unemployed and meet the guidelines of the program.

How do I participate in Buy Brockton?

In order to participate in the Buy Brockton program prospective buyers must secure a mortgage loan through one of the participating lenders. Once a loan is secured and a closing takes place on a Brockton home, the buyer may be eligible to receive post purchase rewards from qualified participating partners.

How can home buyers learn more about Buy Brockton?

Prospective home buyers should contact Brockton Redevelopment Authority at (508) 586-3887 (for?). To contact a participating lender visit our Lenders page. Each designated loan officer should have specific and detailed information regarding available Buy Brockton product offerings.

Lenders

Do I have to use a Buy Brockton Lender?

You must use a lender on the list of Buy Brockton lenders in order to be eligible for the BuyBrockton incentives as well as the low rate BuyBrockton Mortgage Program. Remember, you must be purchasing a one or two-unit property sold as a result of foreclosure, deed-in-lieu of foreclosure or through a short sale.

Which bank will give me a Buy Brockton loan?

There are several lenders involved in the Buy Brockton program. Click Here to see lenders and programs.