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Community Home Loans

Strengthening our neighborhoods through homeownership

The communities we serve in Massachusetts and Rhode Island benefit when more people own homes and take pride in the area. BankFive is proud to work with MassHousing to offer housing assistance to qualified borrowers who would otherwise be denied a conventional mortgage. Together, we'll help you figure out which option is right for you, so you can realize your dreams of homeownership.

We'll help clear your path to buying a home:

  • Low- and no-down payment options available
  • Lower credit score thresholds
  • Secured by Massachusetts and Rhode Island housing agencies

Community Home Loans
Buy Cities Loans MassHousing Loans Rhode Island Housing Loans
Backed By MassHousing MassHousing Rhode Island Housing
Down Payment Requirement Low- and no-down payment options Low- and no-down payment options Low- and no-down payment options
Geographical Restrictions Attleboro, MA
Fall River, MA
New Bedford, MA
Taunton, MA
Massachusetts Rhode Island
Income Limits Up to $126,900, depending on county Up to $126,900, depending on county None
Credit Requirements Minimum credit score of 660 Minimum credit score of 640 Minimum credit score of 620
Property Types Single-family residences, condos, and 2-4 family homes Single-family residences, condos, and 2-4 family homes Single-family residences, condos, and 2-4 family homes
Must Be Owner-Occupied Yes Yes Yes
Mortgage Insurance Required Yes Yes There is an option for no private mortgage insurance, but only available to first-time home buyers
Special Requirements May not own more than one home upon closing May not own more than one home upon closing May not own more than one home upon closing
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Apply Now
Learn More

Apply Now
Learn More

Apply Now
Mortgage Resources
Find out how much home you can afford, review our homebuyer checklist, and check rates.