Gov. Maura Healey is expanding eligibility for interest-free, $25,000 first-time home loans just days after a UNH Survey Center poll found that 53% of respondents disapproved of her handling of housing.
The governor also saw a seven-point drop in her approval rating.
The expansion of the MassHousing loans will be supported by $25 million in taxpayer funds, now available to first-time homebuyers who lock in their mortgages by July 31 and earn up to 135% of their area median income. This ranges from $205,335 in eastern Massachusetts, to $165,645 in Worcester County, to $137,565 in the Berkshires and $129,870 in Hampden County, according to the governor’s office.
The loans include deferred repayment terms to help cover a down payment, closing costs and prepaid mortgage insurance.
“We are focused every day on lowering the cost of housing for people. This program lowers families’ upfront costs and their monthly payments so that more people can afford to buy a home and build their future right here in Massachusetts,” Healey told reporters in a Tuesday press conference. “Today, we’re bringing this assistance to a wider cross-section of the middle class who are being priced out of homeownership right now.”
Healey’s office says MassHousing already offers up to $25,000 in down payment and homebuyer assistance loans to moderate- and middle-income households purchasing a first home, offering a 15-year second mortgage with interest rates ranging from 2% to 3%. The office says the expansion now makes these loans available at 0 percent interest with deferred repayment.
The sudden expansion of the program comes just days after a new UNH Survey Center poll reported a seven-point drop in Healey’s net approval rating, which fell from a plus-11 to a plus-four, with 53% of respondents disapproving of her handling of housing.
The UNH poll, released Thursday, found that 49% of respondents approve of her performance as governor. As for the other 51% of respondents, 45% disapprove of Healey’s performance while 6% were undecided.
“Healey earns her highest marks for her handling of education (44% approve), while residents are divided on her handling of crime (28% approve, 33% disapprove), and the economy (37% approve, 40% disapprove). Pluralities disapprove of Healey’s handling of taxes (41%) and roads and bridges (41%). Majorities disapprove of her handling of housing (53%) and the cost of living (52%),” the UNH Survey Center wrote.
Despite the hit to her approval rating, Healey still maintains a sizable lead over the two remaining Republican candidates for governor.
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