NORTH ANDOVER — The Merrimack Valley Chamber of Commerce’s Toy Drive at China Blossom last week was a smashing success.
“The response was overwhelming, and we deeply appreciate each and every one of you who brought a toy to help brighten the holidays for those in need,” said Michael Bevilacqua, vice president of the Merrimack Valley Chamber of Commerce.
Bevilacqua offered special thanks to Thrivent Financial and Robert Cerniglia who served as host, LukeJackson Benefit and HR Solutions, which sponsored the event, Clarendon, which will ensure the toys reach those who need them most, and China Blossom for providing the venue.
“Your generosity and support make a world of difference,” he said. “Together, we’re spreading holiday cheer to those who need it most.”
ONE+ homebuyers program unveiled
The Massachusetts Housing Partnership announced the launch of ONE+, an innovative mortgage program designed to make homeownership more accessible for low- and moderate-income first-time homebuyers in 29 Massachusetts communities.
The program is launching with over $11 million in public and private support led by the Commonwealth, Eastern Bank and the Eastern Bank Foundation, and the Boston Foundation’s Racial Wealth Gap Partnership, a broad-based, cross-industry group of more than 40 leaders aimed at creating and preserving wealth in under-resourced communities across the Greater Boston region, including by making homeownership more affordable.
ONE+ aims to break down barriers to homeownership by providing income-eligible buyers with heavily discounted, fixed 30-year mortgage rates, along with up to $50,000 in down payment and closing cost assistance, and no private mortgage insurance (PMI). This program is available to first-time homebuyers in the 26 Gateway Cities, including Lawrence.
“The ONE+ program will create more affordable homeownership opportunities for first-time homebuyers in our Gateway Cities,” said Housing and Livable Communities Secretary Ed Augustus.
“For far too long, too many of our low-income and minority households have been boxed out of the market. The Healey-Driscoll Administration is committed to helping people achieve the American dream of homeownership and today’s announcement is one step toward creating a more affordable and equitable Massachusetts.”
Speaking on behalf of the Massachusetts Housing Partnership, Clark Ziegler, executive director at MHP, said, “We are thrilled to unveil this new initiative, which represents an exciting step forward in expanding access to homeownership. Through our partnership with the Boston Foundation, Eastern Bank Foundation, and other funders, we are able to provide this much-needed support to first-time buyers and contribute to stronger, more vibrant communities.”
The ONE+ program will provide significantly discounted, fixed 30-year interest rates, down payment and closing cost assistance for those who qualify, no private mortgage insurance (PMI) requirement and low down-payment requirements.
A $4 million contribution from the Eastern Bank Foundation will specifically support first-time homebuyers in Lawrence, Lynn and Lowell.
Bob Rivers, executive chair and chair of the Board of Directors of Eastern Bank, said, “Providing pathways to homeownership and wealth building are critical parts of our mission as Greater Boston’s leading local bank and when they’re combined, life-changing impact happens … We are here to do our part in removing the barriers to homeownership, especially in the Gateway Cities of Lynn, Lawrence and Lowell where we have a long-standing focus on supporting economic development.”