ONE Mortgage

Offered by Massachusetts Housing Partnership (MHP) and designed specifically for low- and moderate-income first-time homebuyers, the ONE Mortgage offers consumers the comfort of knowing their mortgage is financially sustainable.

Product Features

  • Discounted 30-year fixed interest rate. No points are charged to the homebuyer.
  • Low Down Payment - A minimum of 3% of the purchase price for a single-family property, condominium or two-family property. If purchasing a three-family property, the minimum down payment requirement is 5% of the purchase price.
  • No Private Mortgage Insurance (PMI)
  • Extra financial assistance that lowers your monthly payments


  • Long-term Affordability - This unique blend of discounted, fixed-rate private financing and state support lowers a homebuyer's monthly mortgage payment by about twenty percent.
  • Asset Building - There is no limit on appreciation with the ONE Mortgage Program.
  • Post-purchase Support - After you buy, you continue to receive support with free post-purchase education and counseling through the HomeSafe program.

Program Requirements 

To qualify for the ONE Mortgage, borrowers must:

  • Be a first-time homebuyer. This means that you have not owned a home at any point in the last three years.
  • Take a homebuyer class. This class will help you get ready for the home buying process.
  • Meet our down payment requirements. You may use a down payment program or gifted money from a family member as part of this down payment.
    • 3% down payment to buy a condo, single-family home, or two-family home.
    • 5% down payment to buy a three-family property. 
  • Have a total household income under our limits. Our income limits vary by community and the number of people in your household.
  • Have less than $75,000 in total household assets. This includes any checking accounts, savings accounts, stocks, or bonds. But it does not include most retirement and college savings accounts.
  • Meet our credit score limits. Your credit score must be at least 640 to buy a single family or condo and at least 660 to buy a two/three family home. We also have options for people who don’t have any credit history.
  • Agree to live in the property as your primary residence. If you stop living in the property, you must refinance out of your ONE Mortgage

Learn More

  • Find an MHP Lender and find our more about the application process.
  • Get information about MHP's ONE+Boston that combines City of Boston funds with the affordable features of ONE Mortgage to increase the buying power for income-eligible, first-time Boston homebuyers purchasing a home within the City.


For more information on the ONE Mortgage visit our website or contact the ONE Mortgage team:


Toll-free : 800.752.7131