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With Federal Housing Administration (FHA) project approval, Olmsted Green becomes one of a few condominium developments in Boston that offers a customized buyer incentive and flexible financing packages complete with low mortgage rates and down payments as low as 2.25% down. The US Department of Housing and Urban Development (HUD) has announced that this guideline will tighten for lenders and borrowers on January 1, 2009, when the minimum down payment will increase to 3.5%.
If you are a first-time home buyer, newly enacted federal legislation can provide a tax credit of as much as $7,500 through July 1, 2009. In addition to being able to take advantage of incentives to buy, including soft second financing and great interest rates, the developer and their lending partner, Wells Fargo, offer customized packages that can help with down payment, closing costs, and monthly mortgage payments, depending on the needs of potential homeowners.
Now is a wonderful time to consider homeownership while interest rates, down payment requirements, and home prices remain low. We encourage you to review your buying power with FHA financing options and take advantage of the energy efficient homes at Olmsted Green.
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Financing Options 
