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Affordable Home Loan Options

Buying a home doesn't have to be complicated. We have many low and no down payment options that may fit your needs. 

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We have a variety of products available for the purchase and refinance of a home. Not sure where to start? Call us at 888.418.5626 or visit a branch to discuss our products and find out which one(s) may be right for you. 

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CSB-Exclusive Affordable Loan Products

As a local, community bank, we have the flexibility to create products that meet the needs of our buyers and the ever-changing market. 

  • CSB 100 Loan

    This is a CSB-exclusive low or no down payment loan option available to first-time and repeat home buyers. Restrictions apply.2

    Features:

    • Up to 100% financing is available
    • No mortgage insurance
    • Competitive fixed and adjustable rate mortgages available
    See Full Terms & Disclosures

Other Affordable Loan Options

We partner with MassHousing, Massachusetts Housing Partnership, and government-sponsored enterprises to bring a variety of affordable options to our customers. 

  • MHP ONE Mortgage Loan

    This is an affordable loan option available exclusively to first-time home buyers. Income, property location, and other restrictions apply.5

    Features:

    • Low down payment
    • No mortgage insurance
    • Financial assistance for eligible buyers
    • Competitive fixed rates available

    New: Effective September 2022, applicants who qualify for an MHP ONE mortgage may also be eligible for down payment assistance through MassDREAMS.

    MassDREAMS is an exciting new program that may provide up to $50,000 in down payment assistance to eligible buyers.

    MassDreams is available to qualified, first-time buyers who are residents of 29 communities disproportionately impacted by COVID-19: Attleboro, Barnstable, Boston, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Framingham, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Randolph, Revere, Salem, Springfield, Taunton, Westfield, and Worcester. 

    Funds for this program are limited. Please reach out to a loan officer for more information about MassDREAMS and other down payment assistance programs. You may also start an application and a loan officer will be in touch to discuss your options. 

    See Full Terms & Disclosures

  • MHP One+Boston

    ONE+Boston 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. Income, property location, and other restrictions apply.6

    Features:

    • Low down payment
    • No private mortgage insurance
    • Financial assistance for eligible buyers
    • Competitive fixed rates available
    See Full Terms & Disclosures

  • Fannie Mae HomeReady® Loan

    This is an affordable loan option available to first-time and repeat home buyers. Income and other restrictions apply.7

    Features:

    • Low down payment
    • Reduced mortgage insurance may be available
    • Flexible sources of funds for down payment and closing costs
    • Competitive fixed rates available
    See Full Terms & Disclosures

  • Freddie Mac Home Possible® Loan

    This is an affordable loan option available to first-time and repeat home buyers. Income and other restrictions apply.8

    Features:

    • Low down payment
    • Reduced mortgage insurance may be available
    • Flexible sources of funds for down payment and closing costs
    • Competitive fixed rates available
    See Full Terms & Disclosures

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Additional Resources

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Home-Buying Education Resources

We believe in the power of knowledge and are committed to improving the financial well-being of our customers. That's why we we offer a variety of home buyer education resources covering a wide breadth of topics. Take some time to explore on your own or reach out to a loan officer with specific questions.

 

Go to Home-Buying Resources

First-Time Home Buyer Seminars

Buying a home is a big step and we can help. We’ll break down the home-buying process, get you up to speed and introduce you to affordable loan programs when you attend.

  • Earn CHAPA-Certification to help you qualify for affordable loan programs
  • Learn from a CSB Mortgage Loan Officer
  • Learn about the home-buying process, including understanding budgeting and credit
Learn More