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Boston Herald

Patrick, banks cut lower-middle income home loan deal

June 10, 2013

Gov. Deval Patrick announced a new mortgage loan agreement today between the state and lenders intended to give first-time buyers in the lower reaches of middle class a better opportunity to own a home.

The program will facilitate 10,000 mortgage loans for first-time homeowners who earn less than the area?s median income, Patrick?s office said in a statement.

?By giving more young people and families the opportunity to won a home, we retain our talent pool and create sustainable long term economic growth,? Patrick said in the statement.

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