The Best Mortgage Lenders in Medway, MA
Compare verified mortgage lenders serving Medway, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Medway
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage
Movement Mortgage maintains an exceptional 4.9-star rating with numerous local reviews praising their efficient process and competitive rates. As a national lender with strong Massachusetts presence, they specialize in both purchase and refinance loans with streamlined digital processing. Their Franklin office location provides convenient service to Medway residents with local loan officers who understand the Massachusetts housing market. Customers consistently highlight their responsive communication and ability to close loans quickly.
Loan Types:
Milford Federal Savings and Loan Association
Milford Federal Savings and Loan Association
As one of Massachusetts' oldest and most established community lenders, Milford Federal brings exceptional local expertise to Medway homebuyers. With a 4.8-star rating, they're praised for personalized service and competitive local rates. Their portfolio lending approach allows for more flexibility than larger banks, and their long-standing community presence means they understand the local real estate market intimately. Customers appreciate working directly with decision-makers and the institution's stability.
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Guaranteed Rate
Guaranteed Rate
Guaranteed Rate combines national scale with strong Massachusetts presence, earning a 4.7-star rating for their innovative digital mortgage platform and competitive pricing. Their Westborough office actively serves Medway and surrounding communities with local loan officers who provide personalized service. The company is renowned for their Rate Cloud technology that streamlines the application process while maintaining human touchpoints. Customers consistently praise their transparency, rate competitiveness, and efficient closing process.
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Frequently Asked Questions
Common questions about mortgage lending in Medway, MA
What are the current mortgage rates like for homes in Medway, MA?
Mortgage rates in Medway typically align with national averages but can be influenced by local market competition and property types. As of recent trends, rates for 30-year fixed mortgages in the area range from 6.5% to 7.25%, though buyers should get personalized quotes as rates vary by lender, credit score, and loan type. Working with a local lender familiar with Norfolk County can help secure competitive terms.
Are there any first-time homebuyer programs specific to Medway?
While Medway itself doesn't offer exclusive programs, Massachusetts provides several statewide options accessible to Medway buyers, including the MassHousing Mortgage with competitive rates and down payment assistance. Additionally, the ONE Mortgage Program offers low down payments and income-based eligibility, which can be particularly helpful given Medway's median home prices. Consulting with a local housing counselor can help identify the best fit.
How does Medway's property tax rate impact my mortgage payments?
Medway's property tax rate is approximately $14.50 per $1,000 of assessed value, which is relatively moderate for Norfolk County. This rate will influence your monthly escrow payments included in your mortgage, so factor in an additional $300-$600 per month depending on home value. Lenders in the area are accustomed to calculating these costs into your debt-to-income ratio during pre-approval.
What types of properties in Medway qualify for USDA or FHA loans?
Most of Medway does not qualify for USDA loans due to its proximity to Boston and classification as a suburban area, but FHA loans are widely accepted for single-family homes and condos. Medway's mix of historic and newer homes means FHA appraisals may pay extra attention to foundation, roofing, and electrical systems. Conventional loans are more common here, but FHA remains an option for buyers with smaller down payments.
How competitive is the mortgage pre-approval process in Medway's housing market?
Medway's market is competitive due to its desirable school system and commuter access to Boston and Providence. A strong pre-approval from a reputable local lender is essential, as sellers often prioritize offers with verified financing. Many buyers benefit from getting pre-underwritten (a step beyond pre-approval) to stand out, especially when bidding on single-family homes in neighborhoods like Oakland or West Medway.
Why Choose a Mortgage Lender in Medway?
Local Market Knowledge
Lenders who understand Medway'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 Medway and get competitive rates on your home loan.