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Somerset, MA

The Best Mortgage Lenders in Somerset, MA

Compare verified mortgage lenders serving Somerset, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.

3
Top Lenders
4.6
Avg Rating
950+
Reviews
9
Loan Types

Available Loan Programs in Somerset

Conventional
FHA
VA
Jumbo
Refinance
Adjustable-Rate
Fixed-Rate
USDA
Reverse Mortgages

Featured Mortgage Lenders

1

Guaranteed Rate

Guaranteed Rate, Inc.

★★★★☆
4.7/5

Guaranteed Rate is a top-rated national mortgage lender renowned for its competitive rates, digital mortgage platform, and exceptional customer service. With over two decades of experience, they offer a wide array of loan products and have a strong local presence in Massachusetts, including dedicated loan officers serving Somerset. Their high customer satisfaction scores and efficient processing make them a preferred choice for homebuyers in the region.

Experience:24 years
Reviews:350 customer reviews
100 Federal Street, Boston, MA 02110

Loan Types:

ConventionalFHAVAJumboRefinanceAdjustable-Rate
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2

CrossCountry Mortgage

CrossCountry Mortgage, LLC

★★★★☆
4.5/5

CrossCountry Mortgage is a highly-regarded lender known for its personalized service and comprehensive mortgage solutions. With local experts in Massachusetts, they deeply understand the Somerset market and provide tailored advice, competitive rates, and flexible loan options. Their commitment to customer satisfaction and strong community involvement has earned them numerous positive reviews and a reliable reputation.

Experience:21 years
Reviews:280 customer reviews
300 Granite Street, Braintree, MA 02184

Loan Types:

Fixed-RateAdjustable-RateFHAVAUSDAJumboConventional
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3

New American Funding

New American Funding

★★★★☆
4.6/5

New American Funding is a diverse and innovative mortgage lender with a strong focus on customer service and community outreach. They offer a broad range of loan products, including specialized options for first-time homebuyers, and have local representatives serving Somerset with expertise in the area's housing market. Their high ratings reflect a consistent track record of helping clients secure favorable terms and seamless financing experiences.

Experience:21 years
Reviews:320 customer reviews
101 Federal Street, Boston, MA 02110

Loan Types:

ConventionalFHAVAJumboReverse MortgagesRefinance
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Frequently Asked Questions

Common questions about mortgage lending in Somerset, MA

What are current mortgage rates like for homebuyers in Somerset, MA?

Mortgage rates in Somerset typically align with national averages but can be influenced by local market competition. As of recent trends, rates for 30-year fixed mortgages in the Bristol County area range from the mid-6% to low-7% range, though individual rates depend on credit score, loan type, and down payment. Working with a local lender familiar with Somerset's market can help you secure competitive rate options.

Are there any first-time homebuyer programs specifically available in Somerset?

Yes, Somerset homebuyers can access Massachusetts state programs like MassHousing's FIRST (Front-door Initiative for Safer, More Affordable Homes) program, which offers competitive interest rates and down payment assistance. Additionally, the ONE Mortgage program provides affordable financing options with lower monthly payments for eligible first-time buyers in Bristol County, including Somerset residents.

How does Somerset's proximity to water affect mortgage requirements?

Properties near the Taunton River or Mount Hope Bay may require additional flood insurance, which lenders typically mandate for homes in designated flood zones. This can affect your overall monthly housing payment and may require specific documentation during the mortgage process. It's crucial to work with a local lender who understands Somerset's flood maps and insurance requirements.

What unique closing costs should I expect when buying a home in Somerset?

Somerset homebuyers should budget for standard Massachusetts closing costs plus local specifics including Somerset's title insurance rates, recording fees at the Bristol County Registry of Deeds, and potential private mortgage insurance if your down payment is less than 20%. Local transfer taxes and specific municipal fees unique to Somerset should also be considered in your closing cost estimate.

How competitive is the mortgage pre-approval process in Somerset's housing market?

Given Somerset's desirable location and competitive housing market, having a strong pre-approval is essential. Local sellers often prefer buyers who work with lenders familiar with the area's specific requirements and timelines. A comprehensive pre-approval from a Massachusetts-licensed lender, including thorough documentation review, can give you a significant advantage in this market where multiple offers are common.

Mortgage Insights

Finding Your Perfect Mortgage Partner in Somerset, MA

Searching for "mortgage agents near me" is one of the smartest first steps you can take as a prospective homebuyer in Somerset. More than just a convenience, connecting with a local expert can be your greatest asset in navigating our unique South Coast Massachusetts market. Somerset, with its blend of riverside charm, strong community feel, and convenient access to Providence and Fall River, presents specific opportunities and challenges that a neighborhood-savvy mortgage agent understands intimately.

The Somerset housing market is competitive, often featuring a mix of classic Cape Cod styles, colonials, and newer subdivisions. A local mortgage agent doesn’t just process paperwork; they provide strategic advice tailored to this landscape. They know which lenders are most familiar with appraisals in our area, understand the nuances of properties near the Taunton River, and can accurately gauge how long the closing process might take with local title companies. This hyper-local insight is invaluable for crafting a strong, timely offer in a market where speed and certainty can make all the difference.

When looking for your agent, go beyond a simple online search. Ask for referrals from your local real estate agent, friends, or family who have recently purchased in Bristol County. Look for professionals who actively work in and talk about the South Coast communities. In your initial consultation, ask them pointed questions: "What specific challenges have you seen for buyers in Somerset recently?" or "Can you walk me through a recent closing you handled in the 02725 zip code?" Their answers will reveal their depth of local experience.

Massachusetts also offers several regional programs that a knowledgeable mortgage agent can help you leverage. The MassHousing program is a standout, offering competitive interest rates and down payment assistance to qualified first-time homebuyers (and in some cases, repeat buyers). An agent familiar with these programs can determine if you qualify for MassHousing or other local initiatives, potentially saving you thousands of dollars upfront and over the life of your loan. They’ll also ensure you’re prepared for Massachusetts-specific closing costs, like the title insurance standards common in our state.

Your actionable advice starts today: Begin interviewing local mortgage agents *before* you seriously start house hunting. Get pre-approved by a Somerset-area expert to understand your true budget. This pre-approval letter, backed by a respected local professional, will make your offer on a Somerset home significantly stronger than one from an out-of-state online lender. Remember, you’re not just buying a loan; you’re hiring a guide for one of life’s biggest financial journeys. Choosing a mortgage agent rooted in the Somerset community means you’ll have a partner who knows the streets, understands the market rhythms, and is committed to helping you call this town home.

Nearby Cities

Explore mortgage lenders in cities near Somerset, MA

Why Choose a Mortgage Lender in Somerset?

Local Market Knowledge

Lenders who understand Somerset'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 Somerset and get competitive rates on your home loan.