The Best Mortgage Lenders in Falmouth, MA
Compare verified mortgage lenders serving Falmouth, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Falmouth
Featured Mortgage Lenders
Rockland Trust - Falmouth
Rockland Trust Company
Rockland Trust is one of the most respected regional banks serving Cape Cod and Falmouth specifically. With their dedicated Falmouth branch, they offer personalized mortgage services backed by over 115 years of community banking experience. They consistently receive exceptional ratings for their local expertise, competitive rates, and comprehensive loan programs including specialized coastal property financing. Their mortgage specialists have deep knowledge of Falmouth's unique real estate market and provide exceptional customer service throughout the lending process.
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Fairway Independent Mortgage - Cape Cod
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage has established itself as a top-rated mortgage lender serving the entire Cape Cod region including Falmouth. Their Hyannis-based team specializes in Falmouth properties and has earned nearly perfect ratings for their responsive service, competitive rates, and efficient loan processing. With national lending power combined with local market expertise, they offer a wide range of loan products and are particularly noted for their excellent communication and guidance through complex mortgage scenarios common in coastal communities.
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Cape Cod Five Cents Savings Bank
The Cape Cod Five Cents Savings Bank
As the premier community bank serving Cape Cod for over 165 years, Cape Cod Five has deep roots in Falmouth with multiple local branches. They are exceptionally rated for their understanding of the local real estate market, competitive mortgage products, and commitment to personalized service. Their mortgage team includes specialists who live and work in the Falmouth community, providing invaluable local knowledge for coastal property financing, vacation home loans, and primary residence mortgages with exceptional customer satisfaction ratings.
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Frequently Asked Questions
Common questions about mortgage lending in Falmouth, MA
What are current mortgage rates like in Falmouth, MA compared to state averages?
Falmouth mortgage rates typically align with Massachusetts state averages, but may be slightly higher due to the Cape Cod location and seasonal market fluctuations. Currently, rates for 30-year fixed mortgages in Falmouth range between 6.5-7.25%, though this varies by lender and borrower qualifications. The coastal location can sometimes result in slightly different rate structures than inland communities.
Are there any special mortgage programs for first-time homebuyers in Falmouth?
Yes, Falmouth homebuyers can access Massachusetts' "ONE Mortgage" program, which offers below-market interest rates and down payment assistance. Additionally, the Barnstable County HOME Program provides down payment assistance specifically for Barnstable County residents, including Falmouth. These programs are particularly valuable given Falmouth's higher-than-average home prices.
How does Falmouth's seasonal rental market affect mortgage qualification for investment properties?
Lenders in Falmouth often consider projected rental income from seasonal vacation rentals when qualifying investment property mortgages, given the town's robust summer tourism market. However, they typically require documented rental history or market analysis and may only count 75-85% of projected income. This can significantly improve qualification chances for Falmouth investment properties compared to other markets.
What special insurance requirements should I know about for Falmouth mortgages?
Falmouth mortgages often require additional flood insurance due to the coastal location and Falmouth's designation in Flood Zone AE. Many properties also need windstorm insurance riders. Lenders typically require these policies to be in place before closing, adding $1,500-$4,000 annually to housing costs depending on the property's elevation and proximity to water.
How do Falmouth's higher property values impact jumbo loan requirements?
With Falmouth's median home price around $750,000, many buyers need jumbo loans exceeding $766,550 (the 2024 conforming loan limit). Jumbo loans in Falmouth typically require higher credit scores (700+), larger down payments (20-30%), and more cash reserves. Local lenders familiar with Cape Cod's unique market can offer the most competitive jumbo terms.
Nearby Cities
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Why Choose a Mortgage Lender in Falmouth?
Local Market Knowledge
Lenders who understand Falmouth'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 Falmouth and get competitive rates on your home loan.