The mission of the ONE Mortgage Program is to increase homeownership opportunities for low- and moderate-income first-time homebuyers.

The roots of the program date back to 1989, when results of a Federal Reserve study found a pattern of racial bias in mortgage lending in Boston. In response, representatives from the Massachusetts Housing Partnership (MHP), the Massachusetts Affordable Housing Alliance (MAHA), the Massachusetts Bankers Association, the City of Boston and others began meeting to find potential solutions.

The result was the SoftSecond Loan Program, a collaboration between the banking industry, community organizations and the state. SoftSecond's new underwriting standards addressed common obstacles facing lower-income, first-time homebuyers, like high down payments and costly private mortgage insurance. By 2013, SoftSecond had helped more than 17,000 families purchase their first home and leveraged more than $2.6 billion in private mortgage financing.

To continue SoftSecond's success, the program has transformed from a two-mortgage structure to the ONE Mortgage Program. ONE Mortgage offers low-income homebuyers the same affordability and financial security that generations of SoftSecond homeowners have benefited from, in a new, simpler structure. To learn more about the ONE Mortgage Program works,  click here.