radius financial group inc. is a MassHousing Approved Lender

MassHousing announced today that radius financial group inc. is now an approved lender of MassHousing’s affordable, fixed-rate, home loan products for low- and moderate-income homebuyers.

Headquartered in Norwell, radius financial group provides home mortgage lending in Massachusetts and New England.

MassHousing, a quasi-public authority charged with increasing affordable home ownership opportunities in Massachusetts, does not originate its own loans. As a MassHousing-approved lender, radius financial group will be able to originate MassHousing’s home mortgage loans for income-eligible homebuyers. These loans have low down payment options and competitive 30-year, fixed-interest rates.

“radius financial group has been providing quality mortgage products for more than 15 years and now, by offering MassHousing’s suite of loan products, they will be able to better serve low- and moderate-income borrowers in Massachusetts who want to purchase or refinance a home,’’ said MassHousing Executive Director Thomas R. Gleason.

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.

MassHousing also has Lender Paid Mortgage Insurance (LPMI) and no mortgage insurance (No MI) mortgage options. Borrowers can put down as little as 3% of the home purchase price as a down payment on single-family homes and condominiums and as little as 5% down on two, three and four-family properties.

“radius is very excited to add the MassHousing product suite to our consumer loan offerings,’’ said radius financial group Principal and COO Keith Polaski. “As a regional lender with a historical focus on Purchase Volume, the MassHousing loans fit very well into our first-time homebuyer offerings. We look forward to a deepening relationship with MassHousing. We are confident that the attractive down payment and competitive rate structure of MassHousing loans will assist us in expanding our lending footprint into the diverse communities of Massachusetts.’’

About radius financial group inc.:
Founded in Norwell in 1999, radius financial group has grown from a small, local lender to one of the leading mortgage banks in New England. Their continued success comes largely from clients and professional referral sources – the people who’ve seen first-hand how they make the mortgage process better than they ever expected. Because radius is a mortgage lender, not a broker, they are well positioned to offer an extensive line of products, from industry standards to niche products. For more information about radius financial group visit www.radiusgrp.com.

About MassHousing:
MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $18.5 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com, follow us on Twitter @MassHousing, subscribe to our blog and Like us on Facebook.