The Best Mortgage Lenders in North Andover, MA
Compare verified mortgage lenders serving North Andover, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in North Andover
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service and competitive rates. With nearly three decades of experience, they specialize in a wide range of loan products and have a strong local presence in the Merrimack Valley, including North Andover. Their dedication to personalized service and community involvement makes them a trusted choice for homebuyers seeking reliable financing options.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its efficient processing and commitment to customer satisfaction. Founded in 2008, they offer a variety of loan types with a focus on streamlining the mortgage process. Their regional office in Burlington serves North Andover and the Greater Boston area, providing competitive rates and strong local support, backed by numerous positive reviews for their responsive and knowledgeable team.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable lender with over two decades of experience, offering diverse loan options and emphasizing inclusivity and customer care. They have a strong presence in Massachusetts, serving North Andover with competitive rates and a commitment to helping borrowers achieve homeownership. Their high ratings reflect consistent reliability, innovative tools, and a dedicated local team that ensures a smooth mortgage experience.
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Frequently Asked Questions
Common questions about mortgage lending in North Andover, MA
What are the current mortgage rates like for homebuyers in North Andover, MA?
Mortgage rates in North Andover typically align with national averages but can vary based on local market conditions and lender competition in Essex County. Currently, rates for 30-year fixed mortgages range from 6.5% to 7.2%, though North Andover's strong school system and desirable location can sometimes result in slightly more competitive rates from lenders seeking business in this stable market.
Are there any first-time homebuyer programs specific to North Andover?
While North Andover doesn't have town-specific programs, Massachusetts offers several statewide programs that North Andover buyers can utilize, including MassHousing's ONE Mortgage program with reduced interest rates and down payment assistance. Additionally, the Massachusetts Housing Partnership's SoftSecond Loan program can be particularly beneficial given North Andover's higher-than-average home prices.
How does North Andover's property tax rate affect my mortgage qualification?
North Andover's current property tax rate of approximately $14.78 per $1,000 of assessed value is a key factor in mortgage qualification. Lenders will include these taxes in your debt-to-income ratio calculation, which is important to consider since North Andover's taxes are moderately higher than some surrounding communities but offset by excellent town services and schools.
What special considerations should I know about getting a mortgage for North Andover's historic homes?
Many North Andover homes in historic districts like Old Center or Sutton Square may require additional inspections and potentially higher insurance costs. Lenders often require specialized appraisals for historic properties, and you may need to budget for preservation requirements that could affect your loan-to-value ratio and overall borrowing capacity.
How competitive is the mortgage lending environment in North Andover right now?
North Andover's desirable location and strong housing market create a competitive lending environment, particularly for well-qualified buyers. Local credit unions like Jeanne D'Arc Credit Union and Merrimack Valley Credit Union often offer competitive terms, while national lenders provide various conventional loan options to compete in this stable Essex County market.
Nearby Cities
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Why Choose a Mortgage Lender in North Andover?
Local Market Knowledge
Lenders who understand North Andover'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 North Andover and get competitive rates on your home loan.