Dedham Savings has enhanced its website to include more information for consumers who are interested in MassHousing's family of quality, fixed-rate home mortgage products for low and moderate-income homebuyers.
Among the enhancements made to www.dedhamsavings.com are:
* Adding MassHousing as a menu selection and landing page
* Adding information about MassHousing Mortgage products, including mortgages with and without
* Adding information about MassHousing's interest rates and income limits for the geographic areas of
* Adding features so consumers can receive personalized quotes, signup for rate watch, and apply for loans online
* Linking to Loan Officers' individual web pages
* Adding the MassHousing information to the digital slide rotation at every Dedham Savings branch
"Since the Bank was founded in 1831,
Headquartered in Dedham since 1831, Dedham Savings has eight branches in Dedham,
MassHousing, a quasi-public authority charged with increasing affordable home ownership opportunities in
"Dedham Savings has provided top quality lending and banking services for more than 180 years by keeping abreast with changes in the market and technology," said MassHousing Executive Director
Borrowers who put less than 20% down on a home receive MassHousing's MI Plus, an enhanced mortgage insurance policy that helps pay the borrower's mortgage for up to six months in the event they lose their job.
Dedham Savings is also offering MassHousing's Mortgage with No MI that does not require mortgage insurance but still offers affordable interest rates. Like a traditional MassHousing mortgage, the No-MI loan can be used to purchase a 1- to 4-family home, requires a 3% down payment (5% for 2- to 4-family homes), and may be used for purchase or refinance.
But unlike a traditional MassHousing mortgage, borrowers who make down payments of less than 20% of the purchase price are not required to have mortgage insurance, though they may pay a slightly higher interest rate. Still, a borrower can have lower monthly payments by not having to pay for mortgage insurance.
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