Best of

6 Best MassHousing Mortgage Lenders of 2020

NerdWalletMarch 30, 2020

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

A MassHousing mortgage for a first-time home buyer in MA is available from a participating lender through the Massachusetts Housing Finance Agency. These participating lenders offer down payment assistance and affordable mortgage insurance.

MassHousing, Massachusetts' housing finance agency, maintains a network of mortgage lenders who help first-time home buyers achieve their dreams. Through these mortgage lenders, first-time buyers can get down payment assistance, low-cost mortgage insurance and specialized purchasing help for veterans.

A number of lenders participate in MassHousing mortgage programs. These are among the highest rated, as determined by NerdWallet research.

Summary of Best MassHousing Mortgage Lenders of 2020

LenderNerdWallet Rating Minimum Credit Score Minimum Down PaymentLearn More

loanDepot: NMLS#174457

at loanDepot

Best for fixer-uppers

620

3.5%

at loanDepot

Fairway Independent Mortgage: NMLS#2289

at Fairway

Best for fixer-uppers & government loans

620

3%

at Fairway

Guaranteed Rate: NMLS#2611

Best for online experience & veterans

620

3%

Read review

Freedom Mortgage: NMLS#2767

Not yet rated

Best for nontraditional credit

620

3%

Read review

PrimeLending: NMLS#13649

Best for nontraditional credit

620

3%

Read review

HomeBridge: NMLS#6521

Best for government loans

620

3%

Read review
Logo

at loanDepot

loanDepot: NMLS#174457

Logo

Min. Credit Score

620

Min. Down Payment

3.5%

at loanDepot


Why we like it

Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.

Pros

  • Offers digital income, asset and employment verification.

  • Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.

  • One of the nation’s most active lenders of FHA and VA loans.

Cons

  • Published mortgage rates include up to three points of prepaid interest and fees.

  • Does not offer home equity loans or lines of credit.

Read Full Review
Logo

at Fairway

Fairway Independent Mortgage: NMLS#2289

Logo

Min. Credit Score

620

Min. Down Payment

3%

at Fairway


Why we like it

Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.

Pros

  • A robust suite of loan products.

  • Licensed in all 50 states.

  • Close in as little as 10 days using the Fairway app.

Cons

  • Limited branch locations.

  • Mortgage rates not posted on website.

Read Full Review

Guaranteed Rate: NMLS#2611

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who are looking to apply for a mortgage and manage the process through online tools, whether buying or refinancing. Guaranteed Rate offers FHA, VA and USDA loans for borrowers who are well-qualified.

Pros

  • Works with most borrowers as long as they have good credit scores and incomes.

  • Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.

  • Has a 95% customer satisfaction rate, according to company data.

Cons

  • Charges some fees, such as a $1,290 lender fee that includes a $150 application fee.

  • Offers many products, which might confuse or overwhelm borrowers.

  • Several click-throughs required for personalized rates.

Read Full Review

Freedom Mortgage: NMLS#2767

Not yet rated

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers looking for a wide variety of mortgage options, including fixed-rate home loans, adjustable-rate mortgages and VA loans.

Pros

  • N/A

Cons

  • N/A

Read Full Review

PrimeLending: NMLS#13649

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

  • Offers a "float-down" interest rate lock.

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

Read Full Review

HomeBridge: NMLS#6521

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who prefer an online experience. Homebridge offers a variety of home loan options and an online application.

Pros

  • A wide variety of loan types.

  • Low credit score requirements for government-backed loans.

  • A wealth of educational material on its website.

  • Licensed in all 50 states.

Cons

  • Mortgage application can't be tracked online.

  • Charges origination fees on some loans.

  • Limited branch locations.

Read Full Review

Last updated on March 30, 2020

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best MassHousing Mortgage Lenders of 2020