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9 best mortgage lenders in Massachusetts

Looking for the best mortgage in Massachusetts? Here are our top 9 picks for interest rates, first-time homebuyers, refinancing and great service in the Bay State.

Famous for its world-class technology and educational institutions, nearly seven million Americans call Massachusetts home. Around two in three Massachusetts residents own their property and pay an average of $2,225 a month for mortgage payments, taxes, utilities and other costs.

The cost of single-family homes in Massachusetts jumped by 17% year-on-year in December 2020, pushing the median price to $455,000 — an all-time high. So, if you’re after a new mortgage or looking to refinance and take advantage of historically low rates, our top nine Massachusetts lenders are a great place to start your search.

Best Massachusetts mortgage lenders in 2021

How we picked the best lenders

We hand-selected our nine mortgage lenders from nearly 170 mortgage companies originating home loans in Massachusetts. These picks made our list after we compared interest rates, first-time homebuyer programs, credit score eligibility, customer service and technology.

We also read customer reviews from consumer rating sites like Zillow, Google reviews and the Better Business Bureau (BBB) to guide our decisions. To learn more about our lender selection process, please see Finder’s rating methodology.

Best online experience


Better is a no-commission, 100% digital lender offering a streamlined application process. It claims you can get a preapproval letter in only a few minutes, lock in your rate in under an hour and close up to two times faster than the industry average.

Better is available to take loan applications 24/7. So, if you're comfortable with technology and would prefer a digital lender with human support along the way, Better might be a good option.

Best marketplace


Looking for multiple quotes at a time? If so, LendingTree could suit your needs. Instead of having to research and prequalify for lenders yourself, the free LendingTree service will match you to lenders from its database of over 1,500 partners nationwide.

Simply call or fill out a form with some information about yourself, then sit back and wait for lenders to contact you. Because lenders are competing for your business, LendingTree claims you may get a better rate by using its service.

Rocket Mortgage

Since 2016, Rocket Mortgage has been the online arm of Quicken Loans. As a fully digital lender, Rocket Mortgage is available all hours of the day, allowing you to apply for a loan and lock in a rate without having to wait for a loan officer to call you back.

Using the Rocket Mortgage interface, you can apply for a home or refinance loan, have your assets electronically verified and check your loan's status. And after your loan is funded, you can access your loan documents and make monthly payments using the app.

Best for customer service

Synergy One Lending

With consistently great reviews from clients, Synergy One Lending is our choice for best customer service. The company has a 4.9 out of 5 rating on both Zillow and Google reviews, where customers report being extremely satisfied with the service and communication from their loan officers.

Synergy One Lending's Modern Mortgage Experience combines digital processing with its loan teams to create a more streamlined, customer-centric experience. Call, apply online or use the S1 Connect app to apply for a home or refinance loan.

Best for a wide range of credit scores

Mr. Cooper

If you're looking for a lender with credit score flexibility, Mr. Cooper may be able to help. Headquartered in Dallas, Texas, Mr. Cooper offers a wide range of home loans and participates in government programs, including the Hardest Hit Fund and the Servicemembers Civil Relief Act (SCRA).

While the company doesn't have the best reputation among lenders, Mr. Cooper offers a mobile app that many customers find convenient for making payments digitally and tracking their home's value and equity.

Best rates

First Republic

Founded in 1985 and headquartered in San Francisco, First Republic offers a range of financial products, including residential loans. On average, First Republic has the lowest interest rates of all the lenders we compared in Massachusetts, making it a smart choice if you're looking to buy or refinance.

First Republic offers a range of mortgage products, including single-family, co-op and condo loans, construction loans, vacation and second home loans, as well as HELOCs. To get started, you can browse the company's loan requirements or call a loan officer.

Best regional lender

Leader Bank

Prefer to give a regional lender in Massachusetts your business? Since 2002, Leader Bank has been serving the greater Boston area by providing customer-centric banking products, including mortgages and special loan programs for both first-time and experienced borrowers.

Besides the standard offers of conventional and government-backed loans, the bank can help with a variety of first-time and low-income homebuyer programs, including the MHP One Mortgage Program, MassHousing fixed-rate mortgages, FNMA HomeReady's low down payment program and more.

Best for refinancing

Metro Credit Union

Founded in 1926, Metro Credit Union's priority is to provide its customers with low-fee or no-fee services with lower rates on loans. This credit union offers an impressive array of mortgages, with some of the best refinancing rates and terms we found in Massachusetts.

It also has a refinance calculator on its website, so you can quickly see how much you could save with a lower rate. Whether you're a first-time or experienced homebuyer, Metro Credit Union offers more types of loans than many lenders and competitive rates, making it worth a look.

Best for first-time homebuyers

Residential Mortgage Services

Founded in 1991, RMS is an independent lender of residential mortgage loans. The company offers a full range of integrated loan processing and underwriting services under one roof, as well as a fully digital loan application process you can complete from any device.

Whether you're someone who prefers a digital loan process or would rather work with a loan officer at each step, RMS lets you choose the approach to your mortgage. To get started, simply call, apply online or download the mobile app.

Which lender is best for me?

With hundreds of lenders available in Massachusetts, you may wonder if you’ve found the best one. The good news is it’s possible to narrow down the options by knowing what you want in a loan and a lender.

Here’s how:

  • Understand your goals. What type of loan are you after? From government-backed first-time homebuyer programs to jumbo loans, it’s important to understand which type of loan best suits your needs.
  • Determine if the lender is a good match. Do you prefer a fully digital loan or a more traditional, in-person process — or maybe a combination of both? Reading online reviews is a good way to determine if a lender is right for you.
  • Ask the lender questions:
      • What fees am I required to pay?
      • How fast can you close my loan?
      • Can I get a rate lock and for how long?
      • Who is my contact person after hours?
      • Who services my loan after closing?
      • Are there prepayment penalties?
  • Get multiple quotes. Take your time and get at least three or more quotes to compare offers and negotiate a lower rate.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

1 - 9 of 9
Name Product Loan products offered State availability Min. credit score
(NMLS #7872)
Freedom Mortgage
(NMLS #2767)
Freedom Mortgage
Conventional, Jumbo, FHA, VA, USDA, Refinance
Available in all states
A lender that excels in FHA and VA loans, offering low down payment options to borrowers.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1168)
Conventional, Jumbo, FHA, VA, USDA, Refinance
Not available in: NY
Great customer reviews and customized rate quotes in three minutes with no SSN needed.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
Veterans United stands out from other lenders for its focus on serving the military community.
(NMLS #1121636)
Conventional, Jumbo, Home equity, Refinance
Not available in: HI
No hidden fees, multiple loan terms, and member discounts available.
Guaranteed Rate
(NMLS #2610)
Guaranteed Rate
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Find competitive rates and highly-rated customer service with this lender.
(NMLS #1429243)
Conventional, Jumbo
Not available in: AZ, HI, MA, MO, NV, UT
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
(NMLS #1136)
HELOC, Home Equity loans
Available in all states
Connect with vetted lenders quickly through this free online marketplace.

Compare up to 4 providers

Average rates and fees in Massachusetts

As of January 2021, the average benchmark 30-year fixed mortgage rate in the US is 2.85%. Most Massachusetts lenders are currently offering interest rates at or below 2.75%, with rates ranging from 2.00% to 3.625%, according to data from the Consumer Financial Protection Bureau (CFPB).

Massachusetts homebuyers should budget anywhere from $4,771 to $7,455 after taxes for closing costs, or approximately 1.19% to 1.49% of the home’s final sale price, according to data from ClosingCorp. See mortgage rates in Massachusetts or Massachusetts closing costs for more information on what you might pay.

What about brokers?

Besides LendingTree, our list of Massachusetts lenders are companies that underwrite mortgages directly to borrowers. But if you don’t have time to research lenders yourself, enlist the services of a mortgage broker to help find you a loan.

While brokers typically charge anywhere from .5% to 2% of a loan’s value, be aware that some brokers may charge excessive fees. But with many lenders offering free loan prequalification online, you may discover that you’ll find a great rate on your own, minus the broker’s fee.

Bottom line

If you’re looking for a mortgage in Massachusetts, you have numerous choices. If one lender doesn’t have what you want, chances are another will. While our top nine Massachusetts picks may be perfect for many borrowers, compare more lenders to see other mortgages you may qualify for.

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