The Best Mortgage Lenders in Arlington, MA
Compare verified mortgage lenders serving Arlington, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Arlington
Featured Mortgage Lenders
Leader Bank
Leader Bank, N.A.
Leader Bank has established itself as one of the top-rated local mortgage lenders in Arlington with exceptional customer satisfaction ratings. As a community-focused bank headquartered in Arlington, they offer personalized service and competitive rates with deep knowledge of the local real estate market. Their mortgage team provides comprehensive lending solutions including specialized jumbo loans for the competitive Boston-area housing market. With over 20 years of experience and hundreds of positive reviews, they're known for their responsive communication, streamlined application process, and commitment to helping borrowers navigate complex mortgage decisions.
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North Easton Savings Bank
North Easton Savings Bank
While headquartered in North Easton, this established mutual savings bank has a strong presence throughout Eastern Massachusetts and serves Arlington residents with exceptional mortgage services. With over 160 years of operation, they bring unparalleled stability and community commitment to their lending practices. They offer competitive rates and a wide range of loan products, particularly excelling in first-time homebuyer programs and construction loans. Their mortgage specialists are praised for their patience in explaining options and their ability to close loans efficiently. The bank maintains high customer satisfaction ratings due to their personalized approach and local decision-making authority.
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The Poli Mortgage Group
The Poli Mortgage Group, Inc.
The Poli Mortgage Group, located just minutes from Arlington in Burlington, is consistently ranked among the top mortgage brokers in Massachusetts. With nearly 25 years of experience and exceptional 4.9-star ratings across multiple review platforms, they've built a reputation for securing competitive rates and providing outstanding customer service. As a mortgage broker, they have access to multiple lenders and can often find better terms than individual banks. They specialize in complex loan scenarios and jumbo mortgages common in the Arlington market. Their team is known for their expertise, transparency throughout the process, and commitment to ensuring clients understand all their options.
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Frequently Asked Questions
Common questions about mortgage lending in Arlington, MA
What are the current mortgage rates like for Arlington, MA homebuyers?
Mortgage rates in Arlington are generally competitive with national averages but can be slightly influenced by Massachusetts' strong housing market. As of late 2023, rates for 30-year fixed mortgages typically range from 6.5% to 7.5% for qualified buyers, though Arlington's desirable location and high property values may sometimes result in slightly better terms for well-qualified applicants. It's best to check with local lenders for the most current rates.
Are there any first-time homebuyer programs specifically for Arlington residents?
Yes, Arlington homebuyers can access Massachusetts' state-wide programs like MassHousing and the ONE Mortgage program, which offer competitive interest rates and down payment assistance. While Arlington doesn't have city-specific programs, these state programs are particularly valuable given Arlington's higher-than-average home prices, often requiring larger down payments. Local lenders familiar with Arlington's market can help navigate these options.
How does Arlington's competitive housing market affect the mortgage pre-approval process?
Given Arlington's highly competitive real estate market, having a strong pre-approval is crucial. Sellers often expect buyers to be pre-approved with local Massachusetts lenders who understand the quick closing timelines and competitive offer environment. A thorough pre-approval from a reputable local lender can make your offer stand out in multiple-bid situations common in Arlington.
What special considerations should I know about getting a mortgage for Arlington's older homes?
Many Arlington homes were built before 1950, so mortgage lenders typically require thorough inspections and may have specific requirements for older properties. You'll want to ensure the home meets current safety standards and doesn't have major issues like knob-and-tube wiring or structural problems that could affect loan approval. Some lenders may require additional escrows for immediate repairs on older properties.
Are there any property tax considerations I should factor into my mortgage payment in Arlington?
Arlington has property tax rates around $11.50 per $1,000 of assessed value (2023), which is relatively high compared to national averages but competitive within the Boston metro area. Your mortgage lender will calculate property taxes into your monthly payment through an escrow account, and it's important to budget for potential tax increases given Arlington's ongoing community improvements and school funding needs.
Nearby Cities
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Why Choose a Mortgage Lender in Arlington?
Local Market Knowledge
Lenders who understand Arlington's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Massachusetts.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Arlington and get competitive rates on your home loan.