The Best Mortgage Lenders in Erving, MA
Compare verified mortgage lenders serving Erving, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Erving
Featured Mortgage Lenders
Franklin First Federal Credit Union
Franklin First Federal Credit Union
Franklin First Federal Credit Union stands as one of the most trusted mortgage lenders in Franklin County, serving Erving and surrounding communities for over eight decades. As a community-focused credit union, they offer personalized service with local loan officers who understand the unique Western Massachusetts housing market. Their competitive rates and wide variety of loan programs, including specialized first-time homebuyer programs, make them a top choice. Members consistently praise their responsive service, transparent process, and commitment to finding the right mortgage solution for each borrower's needs.
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Greenfield Savings Bank
Greenfield Savings Bank
With deep roots in Franklin County since 1869, Greenfield Savings Bank has built an exceptional reputation for mortgage lending in Erving and throughout Western Massachusetts. Their experienced local loan officers provide personalized guidance through the entire home buying process, offering competitive rates and flexible terms. The bank is particularly noted for its construction and renovation loan expertise, valuable in the Erving area where older homes and land purchases are common. Customers consistently highlight the bank's reliability, local decision-making, and commitment to community development.
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Freedom Credit Union
Freedom Credit Union
Freedom Credit Union serves members throughout Western Massachusetts, including Erving, with a strong focus on affordable mortgage solutions and exceptional member service. While headquartered in Springfield, they actively serve the entire Pioneer Valley region with dedicated mortgage specialists who understand the local real estate market. They offer particularly strong first-time homebuyer programs and competitive rate options. Members consistently praise their educational approach to mortgage lending, transparent fee structure, and willingness to work with borrowers who have various financial backgrounds.
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Frequently Asked Questions
Common questions about mortgage lending in Erving, MA
What are the current average mortgage rates for homes in Erving, MA?
Mortgage rates in Erving typically align with national averages but can be slightly influenced by local market conditions. As of recent data, 30-year fixed rates in Franklin County generally range from 6.5% to 7.2%, though rates vary by lender and borrower qualifications. It's wise to compare offers from local credit unions like Greenfield Cooperative Bank alongside national lenders for competitive rates.
Are there any first-time homebuyer programs specifically available in Erving?
Yes, Erving homebuyers can access Massachusetts state programs like MassHousing's ONE Mortgage program, which offers low down payments and competitive interest rates. Additionally, the Franklin County Community Land Trust sometimes has affordable homeownership opportunities in the area. These programs are particularly valuable given Erving's relatively affordable housing market compared to eastern Massachusetts.
How does Erving's rural location affect the mortgage process?
Erving's rural classification can impact appraisals since comparable properties might be limited, potentially requiring appraisers to look at nearby towns like Orange or Montague. Some lenders may have specific requirements for rural properties, particularly regarding well and septic systems. USDA loans are also available in Erving, offering 100% financing for eligible borrowers in designated rural areas.
What should I know about property taxes when getting a mortgage in Erving?
Erving has a current tax rate of approximately $17.92 per $1,000 of assessed value, which is moderately high for Franklin County. Lenders will factor this into your debt-to-income ratio calculations, and you'll typically need to escrow for property taxes. The town conducts regular revaluations, so it's important to understand potential tax increases when budgeting for your mortgage payment.
Are there any local down payment assistance programs for Erving homebuyers?
While Erving itself doesn't offer municipal programs, homebuyers can access the MassHousing Down Payment Assistance program, which provides up to $15,000-$50,000 in assistance depending on income and location. The Franklin County Regional Housing and Redevelopment Authority also occasionally administers funds for income-eligible buyers. These programs can be crucial given Erving's median home prices hovering around $300,000.
Why Choose a Mortgage Lender in Erving?
Local Market Knowledge
Lenders who understand Erving'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 Erving and get competitive rates on your home loan.