The Best Mortgage Lenders in Rehoboth, MA
Compare verified mortgage lenders serving Rehoboth, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rehoboth
Featured Mortgage Lenders
BayCoast Mortgage
BayCoast Mortgage
BayCoast Mortgage has established itself as one of the top-rated mortgage lenders serving the Rehoboth area with exceptional customer satisfaction ratings. As part of BayCoast Bank, they bring strong local knowledge of Southeastern Massachusetts real estate markets. They specialize in personalized service with local decision-making, offering competitive rates and a wide variety of loan programs. Their team of experienced loan officers provides guidance through the entire mortgage process, making them particularly popular with first-time homebuyers and those seeking construction loans in the area.
Loan Types:
People's Mortgage Department
People's Credit Union
People's Credit Union has been serving the Rehoboth community and surrounding areas for decades with their comprehensive mortgage services. They consistently receive high marks for their competitive rates, transparent process, and exceptional customer service. As a local credit union, they understand the specific needs of Massachusetts homebuyers and offer personalized attention throughout the lending process. Their mortgage specialists are known for taking extra time to educate borrowers and find the best loan products for their individual situations.
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Newrez Mortgage
Newrez LLC
Newrez has built a strong reputation as a national mortgage lender with excellent service throughout Massachusetts, including Rehoboth. They offer a comprehensive range of mortgage products with competitive pricing and efficient processing. Customers consistently praise their responsive communication and streamlined digital application process. With extensive experience in New England markets, their loan officers provide expert guidance on local real estate conditions while offering the resources of a larger lender, including various special loan programs and refinancing options.
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Frequently Asked Questions
Common questions about mortgage lending in Rehoboth, MA
What are the current mortgage rates like for homes in Rehoboth, MA?
Mortgage rates in Rehoboth typically align with national averages but can vary based on property type and location within this rural community. Currently, rates for 30-year fixed mortgages in Bristol County range from 6.5% to 7.25%, though local lenders may offer competitive rates for Rehoboth's stable housing market. It's best to compare offers from both local credit unions and national lenders serving the area.
Are there any first-time homebuyer programs specifically for Rehoboth residents?
Yes, Rehoboth homebuyers can access Massachusetts' state-wide programs like MassHousing and the ONE Mortgage program, which offer low down payments and competitive rates. Additionally, Bristol County residents may qualify for down payment assistance through local programs. These are particularly valuable in Rehoboth where median home prices have been steadily increasing.
How does Rehoboth's rural character affect mortgage lending requirements?
Rehoboth's rural nature can impact lending for properties with well and septic systems, as lenders may require additional inspections and water quality testing. Properties on private roads might need verification of road maintenance agreements. These rural considerations are common in Rehoboth and should be factored into your timeline and budget.
What special considerations should I know about for buying older homes in Rehoboth?
Many Rehoboth homes date back to the 18th and 19th centuries, so lenders may require thorough inspections for structural integrity, electrical systems, and lead paint compliance. FHA 203(k) renovation loans can be particularly useful for updating historic properties while preserving their character. Local lenders familiar with Rehoboth's historic homes can guide you through specific requirements.
Are there any local property tax considerations that affect mortgage affordability in Rehoboth?
Rehoboth has a property tax rate of approximately $14.97 per $1,000 of assessed value, which is slightly above the state average. Lenders will factor this into your debt-to-income ratio calculations. The town's recent property revaluations mean your tax assessment could change, so it's wise to budget for potential increases when determining your mortgage affordability.
Why Choose a Mortgage Lender in Rehoboth?
Local Market Knowledge
Lenders who understand Rehoboth'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 Rehoboth and get competitive rates on your home loan.