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Best Massachusetts Mortgage Lenders of 2018

Finding the Right Mortgage, Mortgages
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.
NerdWallet offers financial tools and advice to help you understand your options and make the best possible decisions. The guidance we offer and information we provide are deeply researched, objective and independent. We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers.

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 online mortgage lenders in Massachusetts

These lenders have advanced online capabilities, so applying for a mortgage is faster and more convenient.

Rocket Mortgage
  • The first national lender to launch mobile mortgage lending
  • Online employment and asset verification
  • Loan decisions are often made in minutes
  • Rocket Mortgage review
  • Offers an online application process with secure document uploads and electronic signing
  • Claims a 95% customer satisfaction rating
  • Has 170 branches across the country for local service
  • Guaranteed Rate review

Best Massachusetts mortgage lenders for first-time home buyers

With a one-two punch of experience and government-backed loan programs like FHA and USDA, these lenders can help you buy your first home.

Quicken Loans
  • Is the largest FHA lender in the nation
  • Offers a full complement of mortgage products for buying and refinancing
  • Rocket Mortgage, from Quicken Loans, allows completion of the mortgage process entirely online
  • Quicken Loans review
  • Offers a full line of purchase mortgages, including FHA and VA loans
  • Has low down payment options that don’t require private mortgage insurance
  • Available in all 50 states
  • CitiMortgage review

Best Massachusetts mortgage lenders for veterans

Your military service may qualify you for a VA loan with zero down payment. VA loans are a specialty of these Massachusetts lenders.

  • With Department of Veterans Affairs loans, credit score standards are less stringent
  • Considers “after the bills are paid” income, rather than just a debt-to-income ratio
  • You’ll need military service to qualify
  • Veterans United review
  • Licensed in 50 states, with a wide range of affordable mortgage products for military members
  • Underwriting model allows greater loan flexibility
  • Willing to look at rent, utility and cell phone payments in evaluating eligibility
  • Navy Federal Mortgage review

Best Massachusetts mortgage lenders for low down payments

Buying a home doesn’t always require a giant down payment. These lenders offer mortgages with 3% down or less.

  • Finds state bond programs for first-time home buyers and limited-income households
  • Embraces FHA-backed home loans
  • Offers a full menu of fixed-rate and adjustable-rate home loans and refinancing
  • Flagstar Bank review
  • Offers a down payment of just 3%, with no mortgage insurance, through the Affordable Loan Solution program
  • Has a physician loan program to assist doctors who are a bit short on a down payment but have strong earning potential
  • Reduces fees for some existing bank customers
  • Bank of America mortgage review

Best non-bank mortgage lenders in Massachusetts

Doing business with these non-bank lenders may yield savings and a more streamlined application experience.

  • Offers a variety of refinance loans and home equity loans
  • Is rolling out an $80 million technology upgrade
  • Gives discounts and reimbursements for certain closing costs to repeat refinance customers
  • LoanDepot mortgage review
  • Uses manual underwriting to evaluate borrowers, which allows more flexibility to approve loans
  • Offers a broad range of loans, including FHA, fixed-rate and adjustable-rate mortgages; minimum score 580
  • Offers multiple down payment assistance and grant programs
  • New American Funding review

Best Massachusetts mortgage lenders: summary

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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.