6 Best MassHousing Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
You re our first priority br Every time
We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.BEST OF 6 Best MassHousing Mortgage Lenders of 2021
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.NerdWallet Jan 29, 2021 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. Here is a list of our partners and here's how we make money. 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. 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. Best MassHousing Mortgage Lenders
LenderNerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.Min. credit score Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standardsMin. down paymentLearn more Guaranteed Rate NMLS#2611Learn more at Guaranteed Rate 5.0/5 Best for online experience & veterans620 VA:580USDA:620JUMBO:N/AFHA:600CONVENTIONAL:6203%Guaranteed Rate offers conventional loans with as little as 3% down.Learn more at Guaranteed Rate Fairway Independent Mortgage NMLS#2289Learn more at Fairway Independent Mortgage 3.5/5 Best for fixer-uppers620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:6403%Fairway Independent Mortgage offers conventional mortgages with flexible terms and mortgage insurance options on down payments less than 20%.Learn more at Fairway Independent Mortgage loanDepot NMLS#174457Read review 4.0/5 Best for fixer-uppers620 JUMBO:N/AVA:620FHA:580CONVENTIONAL:6205%LoanDepot offers conventional loans with as little as 5% down.Read review Caliber NMLS#15622Read review 3.5/5 Best for veterans580 VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:6800%On VA loans, Caliber offers down payments as low as 0%.Read review PrimeLending NMLS#13649Read review 3.5/5 Best for nontraditional credit620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:5803%PrimeLending offers conventional loans with down payments as low as 3%.Read review Homebridge NMLS#6521Read review 3.5/5 Best for government loans550 FHA:550USDA:550CONVENTIONAL:620JUMBO:N/AVA:5503.5%Homebridge offers conventional loans for as little as 3% down.Read reviewLearn more at Guaranteed Rate Guaranteed Rate NMLS#2611
5.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:580USDA:620JUMBO:N/AFHA:600CONVENTIONAL:620 Min. down payment3% Guaranteed Rate offers conventional loans with as little as 3% down. View details Learn moreat Guaranteed Rate View details 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.Read Full ReviewLearn more at Fairway Independent Mortgage Fairway Independent Mortgage NMLS#2289
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:640 Min. down payment3% Fairway Independent Mortgage offers conventional mortgages with flexible terms and mortgage insurance options on down payments less than 20%. View details Learn moreat Fairway Independent Mortgage View details Why we like it Good for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans. Pros Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Cons Mortgage rates for different types of loans aren't posted online. Origination fees are on the high side compared with other lenders, according to the latest federal data.Read Full ReviewRead review loanDepot NMLS#174457
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 JUMBO:N/AVA:620FHA:580CONVENTIONAL:620 Min. down payment5% LoanDepot offers conventional loans with as little as 5% down. View details Read reviewView details 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 ReviewRead review Caliber NMLS#15622
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score580 VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:680 Min. down payment0% On VA loans, Caliber offers down payments as low as 0%. View details Read reviewView details Why we like it Good for: first-time home buyers, veterans and those who may have credit challenges to overcome. Pros Offers extensive educational resources for military borrowers. Participates in some down payment assistance and first-time home buyer programs. Cons No mortgage rates displayed online. Doesn’t offer home equity loans or lines of credit.Read Full ReviewRead review PrimeLending NMLS#13649
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:580 Min. down payment3% PrimeLending offers conventional loans with down payments as low as 3%. View details Read reviewView details 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 government-backed mortgage and refinance options, including FHA, USDA and VA loans. Cons No online mortgage rates — you have to contact the lender for info. Doesn't offer home equity products.Read Full ReviewRead review Homebridge NMLS#6521
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score550 FHA:550USDA:550CONVENTIONAL:620JUMBO:N/AVA:550 Min. down payment3.5% Homebridge offers conventional loans for as little as 3% down. View details Read reviewView details Why we like it Good for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate. Pros Offers a full array of mortgage products, including government and renovation loans. Online portal keeps borrowers up to date on the loan application's progress. Offers home equity lines of credit, or HELOCs. Cons Doesn't post interest rates on its site. Lender fees are on the high side, according to the latest federal data.Read Full Review More from NerdWallet See more Massachusetts mortgage lenders Calculate your mortgage payment Compare Massachusetts mortgage rates Last updated on January 29, 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 MassHousing Mortgage Lenders of 2021
Guaranteed Rate: Best for online experience & veteransFairway Independent Mortgage: Best for fixer-uppersloanDepot: Best for fixer-uppersCaliber: Best for veteransPrimeLending: Best for nontraditional creditHomebridge: Best for government loans About the author
NerdWallet
Email