What is the Live Worcester Now Program?
 

Live Worcester Now is a private/public partnership established to preserve and promote homeownership in the City of Worcester. These programs are designed to help potential homebuyers select a lending package that suits their income and their needs through trusted and responsible lenders, like Bay State Savings Bank.

As a partner in the Live Worcester Now initiatives, we are proud to offer the following programs:
 

Loan Type
 

• Loans are for purchases only

• Loans must qualify for mortgage insurance (MI) from MHFA (25% - 30% coverage)

• Up to 100% loan-to-value (LTV) (must meet conforming loan limits)

• 30 year FIXED rate available

• Some seller concessions are allowable
   

Eligible Properties
 

• Owner occupied, 1-4 family properties including residential condominiums

• Must be in the City of Worcester

• Turn key, ready for occupancy (no rehab loans)
   

Borrower Qualifications

• 680 credit score for 97.01% - 100% financing*

• 660 credit score for 95.01% - 97% LTV*

• 640 credit score for 80.01% - 95% LTV

• Maximum debt-to-income ratio of 45%
   

Questions about this program?

Please call our Retail Lending Department at (508)-890-9060 and speak to one of our representatives.
 

For more information regarding about the Live Worcester Now Initiative, visit their website.**

*Requires Homebuyer Counseling.

Please visit our Rates page for current rates and terms.

All loans are subject to credit approval.

 

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