The Best Mortgage Lenders in Franklin, MA
Compare verified mortgage lenders serving Franklin, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Franklin
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Franklin office is highly regarded for its exceptional local service and extensive mortgage expertise. With over 20 years in business, they offer a comprehensive range of loan products and are particularly praised for their personalized approach to home financing. Their team has deep knowledge of the Franklin and Norfolk County real estate markets, providing competitive rates and guidance through the entire mortgage process. They maintain excellent customer satisfaction ratings and are known for their responsive communication and smooth closing processes.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with strong presence in Eastern Massachusetts, serving the Franklin area with competitive rates and innovative digital mortgage solutions. Founded in 2000, they've built a reputation for efficiency and transparency in the lending process. Their local Dedham office provides personalized service combined with the resources of a major lender, offering a wide variety of loan programs and particularly excelling in digital mortgage applications that streamline the approval process. They consistently receive high marks for customer service and competitive pricing.
Loan Types:
Leader Bank
Leader Bank, N.A.
Leader Bank has established itself as a premier regional mortgage lender serving the Greater Boston area, including Franklin. With over two decades of experience, they offer competitive jumbo loan programs that are particularly attractive in the Massachusetts market. Their mortgage team is known for providing personalized service and local market expertise, with a strong focus on customer satisfaction. Leader Bank maintains excellent relationships with local real estate professionals and offers a comprehensive range of loan products with competitive rates and flexible terms tailored to individual borrower needs.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Franklin, MA
What are the current average mortgage rates for homebuyers in Franklin, MA?
Mortgage rates in Franklin typically align with national averages but can vary based on local market conditions. As of recent data, 30-year fixed rates in the Franklin area generally range from 6.5% to 7.25%, though rates are constantly changing. Working with a local lender who understands Franklin's market dynamics can help you secure the most competitive rate available.
Are there any first-time homebuyer programs specifically available in Franklin?
Yes, Franklin homebuyers can access Massachusetts state programs like MassHousing and the ONE Mortgage program, which offer competitive rates and low down payment options. Additionally, some local lenders in Franklin may offer special first-time buyer incentives or grants. These programs are particularly valuable given Franklin's median home prices, which are above state averages.
How does Franklin's property tax rate affect my mortgage payments?
Franklin's current property tax rate is approximately $14.16 per $1,000 of assessed value, which is relatively moderate for Massachusetts. This means your monthly mortgage payment will include escrow payments for property taxes that are typically lower than many surrounding communities. Lenders will factor this into your debt-to-income ratio calculations when approving your mortgage.
What special considerations should I know about getting a mortgage for Franklin's older homes?
Many homes in Franklin's historic neighborhoods were built before 1950, which may require additional inspections and potentially affect loan terms. FHA 203(k) loans or conventional renovation loans are popular options here to finance both purchase and necessary updates. Lenders may require specific inspections for older electrical, plumbing, or foundation systems common in Franklin's vintage properties.
How competitive is the mortgage pre-approval process in Franklin's housing market?
Given Franklin's competitive real estate market, having a strong pre-approval from a reputable local lender is crucial. Sellers often prefer buyers who use lenders familiar with Franklin's specific closing processes and timelines. A full underwriting pre-approval rather than a basic pre-qualification can give you a significant advantage when making offers in this sought-after community.
Nearby Cities
Explore mortgage lenders in cities near Franklin, MA
Why Choose a Mortgage Lender in Franklin?
Local Market Knowledge
Lenders who understand Franklin'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 Franklin and get competitive rates on your home loan.