The Best Mortgage Lenders in Beverly, MA
Compare verified mortgage lenders serving Beverly, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Beverly
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in the North Shore region, including Beverly. Known for its competitive rates and digital mortgage process, the company has high customer satisfaction scores due to its efficient service, extensive loan options, and personalized support from local loan officers. With over two decades of experience, they are praised for their transparency and quick closings, making them a reliable choice for homebuyers in Essex County.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender serving Beverly and the surrounding areas with a focus on community involvement and customer care. They offer a wide range of loan products and are noted for their competitive rates, knowledgeable staff, and streamlined application process. With nearly three decades in business, they have built a strong track record for reliability and excellent service, often highlighted in customer reviews for their responsiveness and support throughout the mortgage journey.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a well-established lender with a local office in Peabody that actively serves Beverly residents. They are recognized for their flexible loan options, competitive pricing, and dedicated customer service. With 20 years of experience, they have a solid reputation for handling complex mortgage scenarios and providing personalized guidance. Customers frequently commend their efficient processing and commitment to finding the best solutions, making them a trusted partner for home financing in the North Shore area.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Beverly, MA
What are the current mortgage rates like in Beverly, MA compared to the national average?
Mortgage rates in Beverly are typically very competitive and often align closely with the national average. However, due to the high demand and competitive real estate market on the North Shore, securing a pre-approval with a locked-in rate is highly recommended to strengthen your offer. It's best to compare rates from several local lenders who understand the Beverly market.
Are there any first-time homebuyer programs specific to Beverly that can help with a down payment?
Yes, the MassHousing Mortgage program is a popular option for Beverly homebuyers, offering competitive interest rates and down payment assistance. While not exclusive to Beverly, this state-wide program is highly utilized here. Additionally, some local lenders may offer special programs or grants, so it's wise to consult with a mortgage advisor familiar with Essex County.
How does Beverly's proximity to Boston influence mortgage lending and home affordability?
Beverly's status as a North Shore commuter city significantly increases property demand, which can lead to higher home prices and more competitive bidding wars. Lenders are accustomed to this dynamic, but it means you may need a larger down payment or a stronger debt-to-income ratio to compete. This proximity makes a robust pre-approval even more critical for a successful purchase.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Beverly?
Beverly's property tax rate is currently one of the lower ones on the North Shore, but home values are high, so the actual tax bill can be substantial. Furthermore, due to its coastal location, you should budget for higher homeowners insurance, often including flood insurance, which can impact your total monthly payment. Your lender will help you accurately escrow for these costs.
Are there any local down payment assistance programs for teachers, firefighters, or other municipal employees in Beverly?
While Beverly does not currently have a city-specific program for municipal employees, Massachusetts offers the ONE Mortgage program, which provides a low down payment option and is available to all qualified first-time homebuyers, including public servants. It's beneficial to work with a lender who is an approved ONE Mortgage lender to explore this affordable option.
Why Choose a Mortgage Lender in Beverly?
Local Market Knowledge
Lenders who understand Beverly'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 Beverly and get competitive rates on your home loan.