BEST OF

10 Best Massachusetts Mortgage Lenders of 2021

If you're looking for a mortgage in Massachusetts this year, we researched leading Massachusetts mortgage lenders and selected some of the best ones across five different categories.

By NerdWallet  

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A home is one of the biggest purchases you’ll make in life, so it’s important to have the right Massachusetts mortgage lender in your corner.

NerdWallet compared the Bay State’s leading lenders, then identified the best ones for a variety of specific home loan needs.

Whether your future house is a condo in Boston, a split-level in Springfield or a classic Cape Cod home on the coast, start your search with the mortgages offered by these lenders.

Best Massachusetts Mortgage Lenders

New American Funding
Learn more

at New American Funding

New American Funding: NMLS#6606

4.5

NerdWallet rating 
New American Funding

Min. credit score

620

Min. down payment

3%
Learn more

at New American Funding

Why we like it

Good for: First-time home buyers and other borrowers looking for a broad array of loan choices.

Pros

  • Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.

  • Its home equity line of credit can be used for an owner-occupied or second home.

  • Offers a program to enable buyers to make cash offers.

Cons

  • Mortgage origination fees tend to be on the high end, according to the latest federal data.

Read Full Review
Guaranteed Rate
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at Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating 
Guaranteed Rate

Min. credit score

620

Min. down payment

3%
Learn more

at Guaranteed Rate

Why we like it

Good for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience.

Pros

  • Displays detailed sample rates for many of its loan products.

  • Offers a wide variety of loans, including jumbo and interest-only products.

  • Offers low rates compared with other lenders, according to the latest federal data.

Cons

  • Doesn't offer home equity loans.

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Quicken Loans
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at Quicken Loans

Quicken Loans: NMLS#3030

4.0

NerdWallet rating 
Quicken Loans

Min. credit score

620

Min. down payment

3%
Learn more

at Quicken Loans

Why we like it

Good for: borrowers who appreciate convenience online and on the go for a fully digital home loan experience with consistently acclaimed customer service.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.

  • Doesn't offer home equity loans or lines of credit.

  • Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.

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Rocket Mortgage, LLC
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at Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.5

NerdWallet rating 
Rocket Mortgage, LLC

Min. credit score

620

Min. down payment

3%
Learn more

at Rocket Mortgage, LLC

Why we like it

Good for: borrowers who appreciate a fully digital home loan experience with mortgage rates lower than other lenders’.

Pros

  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.

  • Mortgage interest rates are on the low side compared to other lenders, according to the latest federal data.

  • Offers the option to work with loan officers by phone if desired.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.

  • Doesn't offer home equity lines of credit.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

Read Full Review
Veterans United
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Veterans United: NMLS#1907

4.0

NerdWallet rating 
Veterans United

Min. credit score

620

Min. down payment

0%

Why we like it

Good for: veterans, active-duty service members and eligible reservists looking for VA loans.

Pros

  • Offers 24/7 customer service over the phone.

  • Offers a free credit counseling service.

  • Mortgage rates are on the low side, according to the latest federal data.

Cons

  • Doesn’t offer home equity loans or HELOCs.

  • Veterans United doesn't have branch offices in every state.

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loanDepot
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loanDepot: NMLS#174457

4.0

NerdWallet rating 
loanDepot

Min. credit score

620

Min. down payment

5%

Why we like it

Good for: borrowers who want an easy online application and a variety of loan types to explore.

Pros

  • Has branches across the country for customers who prefer face-to-face service.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

  • Mortgage interest rates tend to be on the lower end, according to the latest federal data.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

  • Doesn't offer home equity loans or lines of credit.

Read Full Review
Navy Federal
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Navy Federal: NMLS#399807

4.0

NerdWallet rating 
Navy Federal

National / regional

National

Min. down payment

0%

Why we like it

Good for: military members and their families looking for low-down-payment mortgages.

Pros

  • Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members.

  • Offers HELOCs and home equity loans.

  • Offers low rates compared with most lenders, according to the latest federal data.

Cons

  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.

  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

Read Full Review
Bank of America
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Bank of America: NMLS#399802

4.5

NerdWallet rating 
Bank of America

Min. credit score

660

Min. down payment

5%

National / regional

National

National / regional

National

Why we like it

Good for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit.

Pros

  • Offers down payment and closing cost assistance programs.

  • May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Doesn't offer renovation loans that roll costs into a mortgage.

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Citibank
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Citibank: NMLS#412915

4.5

NerdWallet rating 
Citibank

National / regional

National

Min. down payment

3%

Why we like it

Good for: Buyers who want to explore low down payment mortgages, including government-backed loans and Citi’s proprietary option.

Pros

  • Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.

  • Offers low rates compared with other lenders, according to the latest data.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Requires help from a loan officer to complete an online mortgage application.

  • Customized mortgage rates not available without making contact.

  • Doesn’t offer renovation loans.

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Flagstar
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Flagstar: NMLS#417490

4.5

NerdWallet rating 
Flagstar

Min. credit score

620

Min. down payment

3%

Why we like it

Good for: borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Borrowers can apply and track loan status online.

  • Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.

Cons

  • Home equity loans are geographically limited.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

Read Full Review

Last updated on January 22, 2021

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Massachusetts Mortgage Lenders of 2021