Release Date: July 11, 2016
Orleans, MA – The Cape Cod Five Cents Savings Bank is pleased to announce that, through a collaborative effort with MassHousing, a unique mortgage financing program is now available for Cape Cod and the Islands.
“We are excited to offer this homebuyer program to individuals and families living on the Cape and Islands,” said Dorothy A. Savarese, President and CEO of Cape Cod Five. “This program will allow more people to make their dream of homeownership become a reality through low down payments, flexible underwriting, and a quick approval process.”
Through the Buy Programs, Cape Cod Five can offer qualified buyers financing – with competitive fixed rate mortgages available – with no points and as little as a 1.5% down payment.
Cape Cod Five will work with local nonprofit housing agencies, such as the Housing Assistance Corporation, to help provide down payment assistance for qualified borrowers. The mortgage insurance includes the unemployment payment protection feature MIPlus™ provided by MassHousing.
Information on how to qualify, income guideline requirements and other details can be obtained by contacting Cape Cod Five’s Customer Service Center at 888-225-4636 or MassHousing at 888-843-6432.