Mortgage Lenders in Massachusetts | How-to Guides for running your business from Work.com

Massachusetts mortgage brokers can help you secure the best possible home mortgage rates in Massachusetts from a variety of mortgage companies. In Massachusetts, mortgage companies are plentiful, but finding one that offers the best terms and options can be time-consuming. Mortgage brokers can help you save time in your search for financially attractive mortgage loans.

Massachusetts mortgage brokers have the experience and connections to examine thousands of different deals from a number of Massachusetts mortgage companies. When hiring Massachusetts mortgage brokers, look for a professional who has a keen understanding of the residential market in your particular area. That’s because housing markets vary tremendously by region, and looking for a downtown loft in Boston on the Charles is vastly different from buying a 100-year-old farmhouse in Lowell or a beach house on Cape Cod.

To find the best mortgage companies in Massachusetts:

Make sure you're working with reputable mortgage lenders in Massachusetts by checking records with government and better-business groups.
Start your search online and look at rates and terms on a variety of websites for mortgage brokers and mortgage companies in Massachusetts.
Don't limit yourself to mortgage lenders in Massachusetts or a Massachusetts-based broker. National loan originators and brokers may offer the best terms on Massachusetts mortgages.

Action Steps
The best contacts and resources to help you get it done

Search local Massachusetts mortgage brokers and lenders associations

Local mortgage lenders associations and mortgage brokers associations can help you find professionals who understand the local housing market and Massachusetts mortgages.

I recommend: Finding a Massachusetts mortgage lender at Massachusetts Mortgage Bankers Association, which lists member banks. For Massachusetts mortgage brokers, look for members of the Massachusetts Mortgage Association.

Consider local and regional banks for mortgages in Massachusetts

Local and regional banks are some of the most common mortgage lenders in Massachusetts.

I recommend: Find local banks that offer Massachusetts mortgages at USCITY.net or LocalLender.info.

Use online sources to search for Massachusetts mortgage companies

Numerous online sources can help you shop for the best mortgage lenders in Massachusetts.

I recommend: The Massachusetts Office of Consumer Affairs & Business Regulation lets you download a list of mortgage lenders and mortgage brokers licensed to do business in Massachusetts. PreferredConsumer.com lets you search for Massachusetts mortgages. At MortgageLoan.com, you can compare brokers and lenders by city. Massachusetts Mortgage Clearinghouse offers a database of lenders and brokers.

Work with national mortgage lenders for mortgages in Massachusetts

Many national mortgage brokers and Massachusetts mortgage companies offer mortgage loans that may be right for you.

I recommend: Consider national lenders, such as GMAC Mortgage or Wachovia, or check out Equifax, which offers a nationwide mortgage referral service. Veterans may qualify for a loan through the VA Mortgage Center.com or USAA.com, where you can get pre-approved for Massachusetts mortgages.

Check the reputations of MA mortgage companies

Make sure the mortgage brokers or mortgage lenders in Massachusetts you're considering are trustworthy and haven't been reported by borrowers for unethical business practices.

I recommend: Check with the Better Business Bureau of Boston and Eastern Massachusetts and the Better Business Bureau of Central and Western Massachusetts to make sure the Massachusetts mortgage lender or broker is legit.

Find out what local experts are saying about mortgages in Massachusetts

Local real estate experts, including your own real estate agent, can provide insider dope on mortgage companies in Massachusetts and market trends that any househunter needs to know, especially in a hot market like Boston.

I recommend: The Boston Real Estate Blog and the Massachusetts Real Estate Blog help you keep up with the latest trends in a rapidly changing big city market. To find a real estate agent, visit the Massachusetts Association or Realtors.

Tips & Tactics
Helpful advice for making the most of this Guide

Massachusetts mortgage companies should be familiar with state fees and should have a network of local appraisers and title companies to make the process go more smoothly.
Bank mortgages in Massachusetts are negotiable. Shop around for rates from mortgage brokers and mortgage companies before approaching your local bank.
When checking mortgage rates in Massachusetts, make sure all rate quotes are from the same time period due to market fluctuations.
Tied mortgage brokers don't charge an upfront fee, but work with a limited number of mortgage companies in Massachusetts who pay them a commission should you choose their mortgage.
An independent broker charges an upfront fee but casts a wider net, offering a variety of mortgages in Massachusetts from a host of Massachusetts mortgage companies.

The official source of Mortgage Lenders in Massachusetts is
the Mortgage Lenders in Massachusetts page at Business.com

Subscribe to

Try our free weekly WhatWorks newsletter, with business how-to advice
& resources from Work.com.

click here to view a sample issue

Guide to Mortgage Lenders in Massachusetts