The Best Mortgage Lenders in Boston, MA
Compare verified mortgage lenders serving Boston, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Boston
Featured Mortgage Lenders
Guaranteed Rate, Inc.
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender known for its competitive rates, digital-friendly application process, and exceptional customer service. With a strong local presence in Boston, they offer a wide range of loan products and have consistently high ratings due to their transparency, speed, and personalized support for homebuyers and refinancers in the area.
Loan Types:
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC
CrossCountry Mortgage is highly regarded for its personalized approach and extensive loan options, making it a favorite among Boston homebuyers. They excel in customer satisfaction with local loan officers who provide tailored advice, competitive rates, and support throughout the mortgage process, backed by years of experience and positive reviews.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage stands out for its community-focused service, competitive rates, and reliability in the Boston market. With a strong track record of high customer satisfaction, they offer comprehensive loan solutions and are praised for their responsive support, making them a trusted choice for both new and experienced homebuyers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Boston, MA
What are the current mortgage rates like in Boston, and how do they compare to national averages?
Boston mortgage rates are typically very competitive but can run slightly higher than the national average due to the city's high cost of living and strong, competitive housing market. It's crucial to compare rates from multiple local lenders, including credit unions, as they can offer more favorable terms for buyers in the Greater Boston area.
Are there any special first-time homebuyer programs available specifically for Boston residents?
Yes, the City of Boston's ONE+ Mortgage Program offers significant benefits, including a deferred, no-interest down payment loan of up to $15,000 and a reduced mortgage interest rate. This program is exclusively for first-time homebuyers purchasing a home within Boston city limits and has specific income and purchase price limits.
How does Boston's competitive real estate market impact the mortgage pre-approval process?
In Boston's fast-paced market, a standard pre-qualification is often insufficient. You need a fully underwritten pre-approval from a reputable local lender to make your offer competitive. Sellers strongly favor buyers who can demonstrate they are a sure bet to close, which can be the deciding factor in a multiple-offer situation common in neighborhoods like South End or Jamaica Plain.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Boston?
Boston has its own property tax rate, which is currently among the highest in Massachusetts. Your escrowed monthly payment will include these city taxes along with homeowner's insurance. It's important to note that if your down payment is less than 20%, you will also have to factor in Private Mortgage Insurance (PMI), which adds to your monthly cost.
Are there any loan programs in Boston that account for the high cost of condos and multi-family homes?
Absolutely. For multi-family homes (2-4 units), you can use an FHA loan with a low down payment, and the potential rental income from the other units can be used to help you qualify for a larger loan amount. For condos, it's critical to ensure the building is on the FHA or VA approved condo list, as many of Boston's historic conversions are not, which can limit your financing options.
Nearby Cities
Explore mortgage lenders in cities near Boston, MA
Why Choose a Mortgage Lender in Boston?
Local Market Knowledge
Lenders who understand Boston'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 Boston and get competitive rates on your home loan.