The Best Mortgage Lenders in Milton, MA
Compare verified mortgage lenders serving Milton, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Milton
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong presence in the Greater Boston area, including Milton. Founded in 1996, it has built a reputation for exceptional customer service, competitive rates, and a wide range of loan options. With nearly three decades of experience, the company is known for its efficient processing, personalized guidance, and high satisfaction rates among local homebuyers. Their Braintree office serves Milton residents with expertise in first-time homebuyer programs, jumbo loans, and refinancing, backed by numerous positive reviews highlighting their reliability and community involvement.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly regarded lender serving Milton and the broader Massachusetts region since 2008. With a focus on streamlined processes and competitive pricing, they offer a comprehensive suite of mortgage products, including specialized programs for first-time buyers and veterans. Their 4.7 rating reflects consistent praise for responsive service, transparency, and local expertise. Movement Mortgage has a strong track record of closing loans quickly and efficiently, with many reviews noting their dedication to customer education and community support, making them a trusted choice for Milton homebuyers.
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New American Funding
New American Funding
New American Funding is a reputable national lender with a significant local presence in the Boston area, actively serving Milton residents. Founded in 2003, it combines two decades of experience with innovative technology to offer competitive rates and flexible loan options. The company is praised for its diverse product portfolio, including programs for low-to-moderate income borrowers, and has a 4.6 rating based on customer feedback emphasizing their knowledgeable staff and efficient service. Their commitment to accessibility and customer satisfaction makes them a standout option for mortgages in the Milton market.
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Frequently Asked Questions
Common questions about mortgage lending in Milton, MA
What are current mortgage rates like in Milton, MA compared to national averages?
Mortgage rates in Milton typically run slightly higher than national averages due to the town's competitive real estate market and high property values. As of late 2024, expect rates to be approximately 0.125% to 0.25% above national averages. Working with a local lender familiar with Milton's market can help you secure the most competitive rate available.
Are there any special first-time homebuyer programs available specifically for Milton residents?
Yes, Milton homebuyers can access Massachusetts' state-wide programs like MassHousing and the ONE Mortgage program, which offer low down payments and competitive rates. Additionally, the Town of Milton occasionally partners with local organizations to provide down payment assistance, though these programs have limited funding and specific eligibility requirements.
How does Milton's high property value affect mortgage qualification and down payment requirements?
With Milton's median home price significantly above state and national averages, you'll typically need a larger down payment and higher income to qualify. Many lenders require jumbo loans in Milton, which often have stricter credit requirements and larger down payments (typically 20% or more) compared to conventional conforming loans.
What should I know about Milton's property tax rates when calculating my monthly mortgage payment?
Milton's property tax rate is relatively moderate for the Boston area, currently around $12.38 per $1,000 of assessed value. However, given the high home values, the actual tax amount can be substantial. Be sure to factor this into your monthly payment calculations, as property taxes in Milton can add several hundred dollars to your monthly mortgage payment.
Are there any local Milton considerations that might affect the mortgage approval process?
Yes, Milton's older housing stock means many homes may require specialized inspections for issues like outdated electrical systems, lead paint, or foundation concerns. Lenders may require additional inspections or repairs before approving financing. Also, Milton's proximity to flood zones may require specific flood insurance, which can affect your overall housing costs and loan approval.
Nearby Cities
Explore mortgage lenders in cities near Milton, MA
Why Choose a Mortgage Lender in Milton?
Local Market Knowledge
Lenders who understand Milton'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 Milton and get competitive rates on your home loan.