The Best Mortgage Lenders in Waltham, MA
Compare verified mortgage lenders serving Waltham, Massachusetts. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Waltham
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly-rated national mortgage lender with a strong local presence in the Greater Boston area, including Waltham. Known for its competitive rates, digital mortgage platform, and efficient closing process, the company has built a reputation for excellent customer service and transparency. With over two decades of experience, they offer a wide range of loan products and have numerous positive reviews highlighting their responsiveness and expertise in the Massachusetts market.
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Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with a significant presence in Eastern Massachusetts, serving Waltham through local loan officers. They are praised for their personalized service, deep local market knowledge, and competitive loan options. Founded in 1996, the company has a track record of high customer satisfaction, with reviews often noting their attention to detail, support throughout the homebuying process, and ability to handle complex mortgage scenarios.
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Leader Bank
Leader Bank, N.A.
Leader Bank is a well-established local community bank with a strong mortgage division that actively serves Waltham and the surrounding areas. Known for its competitive rates and personalized customer service, the bank has built a loyal client base over two decades. Reviews highlight their reliability, local expertise, and seamless loan processing, making them a trusted choice for homebuyers seeking a community-oriented lender with a solid reputation in Massachusetts.
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Frequently Asked Questions
Common questions about mortgage lending in Waltham, MA
What are the current mortgage rates like for homebuyers in Waltham, MA?
Waltham mortgage rates typically align with national averages but can be slightly higher due to Massachusetts' competitive real estate market. As of 2024, rates for 30-year fixed mortgages in Waltham generally range from 6.5% to 7.5%, but vary by lender, credit score, and loan type. Local credit unions like Metro Credit Union often offer competitive rates specifically for Waltham homebuyers.
Are there any first-time homebuyer programs specifically available in Waltham?
Yes, Waltham homebuyers can access Massachusetts' One Mortgage Program, which offers low down payments (as little as 3%) and reduced mortgage insurance. Additionally, the Waltham Community Preservation Act provides funding for affordable housing initiatives that can benefit qualified first-time buyers. The MassHousing program also offers special rates and down payment assistance for Waltham residents.
How does Waltham's competitive housing market affect mortgage pre-approval requirements?
Given Waltham's high demand and limited inventory, sellers often require strong pre-approval letters from local lenders. You'll need excellent credit (typically 680+), stable income documentation, and proof of funds for at least 5-10% down payment. Many Waltham sellers prefer buyers who use Massachusetts-based lenders familiar with local closing timelines and regulations.
What unique closing costs should I expect when getting a mortgage in Waltham?
Waltham homebuyers should budget for Massachusetts-specific costs including a mortgage recording tax (approximately $4.56 per $1,000), title insurance rates set by the state, and local transfer taxes. Additionally, Waltham has higher-than-average attorney fees due to the complex nature of real estate transactions in Middlesex County.
Are there any special mortgage considerations for buying a multi-family home in Waltham?
Yes, Waltham's numerous two and three-family homes require different mortgage considerations. You'll need a multi-unit mortgage, and lenders will consider potential rental income from other units when qualifying you. Given Waltham's strong rental market near major employers and universities, many lenders offer favorable terms for investment properties in the city.
Nearby Cities
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Why Choose a Mortgage Lender in Waltham?
Local Market Knowledge
Lenders who understand Waltham'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 Waltham and get competitive rates on your home loan.