9 Best Massachusetts Mortgage Lenders of 2021

If you're looking for a mortgage in Massachusetts this year, we researched leading Massachusetts mortgage lenders and selected some of the best ones across five different categories.

Last updated on January 22, 2021
Written by 
NerdWallet
NerdWallet
Written by 

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners and here's how we make money.

  • 50+ mortgage lenders reviewed and rated by our team of experts.
  • 40+ years of combined experience covering mortgages and financial topics.
  • Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
  • Governed by NerdWallet's strict guidelines for editorial integrity.
NerdWallet's mortgage content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in home lending. Their work has appeared in The Associated Press, USA Today, The Washington Post, MarketWatch, Newsweek and many other national, regional and local publications. They have been cited in publications including The Wall Street Journal, and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.

9 Best Massachusetts Mortgage Lenders of 2021

Have you or your spouse served in the military?

We’ve got more home loan options for you. Show me

Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
New American Funding

New American Funding: NMLS#6606

Learn more
at New American Funding
at New American Funding
Home loans overall
Best for non-bank lenders

580

3%

Learn more
at New American Funding
at New American Funding
Rate

Rate: NMLS#2611

5.0
/5
Home loans overall
Best for online lenders

620

3%

Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
4.5
/5
Home loans overall
Best for online lenders

620

1%

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Veterans United

Veterans United: NMLS#1907

Learn more
at Veterans United
at Veterans United
4.5
/5
VA loans
Best for veterans

620

0%

Learn more
at Veterans United
at Veterans United
loanDepot

loanDepot: NMLS#174457

LEARN MORE
on NerdWallet
4.0
/5
Home loans overall
Best for non-bank lenders

620

3%

LEARN MORE
on NerdWallet
Navy Federal

Navy Federal: NMLS#399807

LEARN MORE
on NerdWallet
5.0
/5
VA loans
Best for veterans

N/A

0%

LEARN MORE
on NerdWallet
Bank of America

Bank of America: NMLS#399802

LEARN MORE
on NerdWallet
4.0
/5
Home loans overall
Best for low down payments

660

5%

LEARN MORE
on NerdWallet
Citibank

Citibank: NMLS#412915

LEARN MORE
on NerdWallet
4.0
/5
Home loans overall
Best for first-time home buyers

N/A

3%

LEARN MORE
on NerdWallet
Flagstar

Flagstar: NMLS#417490

LEARN MORE
on NerdWallet
5.0
/5
Home loans overall
Best for low down payments

N/A

5%

LEARN MORE
on NerdWallet
New American Funding
Learn more
at New American Funding
at New American Funding
New American Funding

New American Funding: NMLS#6606

4.0
Home loans overall
NerdWallet rating
Min. credit score

580

Min. down payment

3%

Why We Like ItNew American Funding offers a large menu of loan products, as well as programs like first-time home buyer assistance, but personalized mortgage rates aren't available on its website.
Pros
  • Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
  • Its home equity line of credit can be used for a primary residence or second home.
Cons
  • Average origination fees are on the high side, according to the latest federal data.
  • Personalized mortgage rates are not available on the website without providing contact information.
Read Full Review
Rate

Rate: NMLS#2611

5.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItRate boasts a streamlined application process, with full underwriting in as little as one business day, though average fees are higher than many competitors’.
Pros
  • Fully underwritten mortgage approval in as little as one day for qualified borrowers.
  • Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
  • Advertises a HELOC that can be funded in as few as five business days.
Cons
  • Origination fees are on the high side, according to the latest federal data.
  • HELOC requires immediate, full withdrawal of funds.
Rocket Mortgage, LLC
Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

1%

Why We Like ItRocket Mortgage is the largest mortgage lender by volume, standing out for its range of affordable borrowing options, down payment assistance and closing cost credits.
Pros
  • Reported average time to close is 15 days faster than industry average.
  • FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
  • Borrowers can apply via mobile app.
Cons
  • Origination fees are on the higher end, according to the latest federal data.
  • No construction or renovation loans.
  • Physical branches are only available in Detroit, Cleveland, and Phoenix.
Veterans United
Learn more
at Veterans United
at Veterans United
Veterans United

Veterans United: NMLS#1907

Min. credit score

620

Min. down payment

0%

Why We Like ItGood for: veterans, active-duty service members and eligible reservists looking for VA loans.
Pros
  • Largest VA lender in the country by far.
  • Offers 24/7 customer service over the phone.
  • Offers a free credit counseling service.
Cons
  • Does not offer second mortgage options like home equity loans or HELOCs.
  • Borrower must provide contact info for customized rates.
loanDepot
LEARN MORE
on NerdWallet
loanDepot

loanDepot: NMLS#174457

4.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItLoanDepot is a large nonbank lender that offers the potential for a streamlined mortgage process and cash back, but to start an application or get a rate quote you must work with a loan officer over the phone.
Pros
  • Offers a variety of repayment terms for fixed-rate loans.
  • Does a substantial amount of business in FHA lending.
  • mello smartloan product can streamline mortgage application, appraisal and title search.
Cons
  • Interest rates are not available on the website.
  • Origination fees are on the higher end, according to the latest federal data.
Navy Federal
LEARN MORE
on NerdWallet
Navy Federal

Navy Federal: NMLS#399807

National / regional

National

Min. down payment

0%

Why We Like ItGood for: military members and their families looking for low-down-payment mortgages.
Pros
  • Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members.
  • Offers HELOCs and home equity loans.
  • Offers low rates compared with most lenders, according to the latest federal data.
Cons
  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.
  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.
Bank of America
LEARN MORE
on NerdWallet
Bank of America

Bank of America: NMLS#399802

4.0
Home loans overall
NerdWallet rating
Min. credit score

660

Min. down payment

5%

National / regional

National

Why We Like ItBank of America offers low interest rates, in-person service and plenty of loan options, but it was fined by regulators for reporting inaccurate mortgage data.
Pros
  • Interest rates are lower than most lenders, according to the latest federal data.
  • Offers up to $10,000 in down payment assistance to qualified borrowers.
  • Banking customers can get discounted interest rates or fees.
Cons
  • Mortgage origination fees are on the high side, according to the latest federal data.
  • Rate estimator tool doesn’t personalize by credit score.
  • Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
Citibank
LEARN MORE
on NerdWallet
Citibank

Citibank: NMLS#412915

4.0
Home loans overall
NerdWallet rating
National / regional

National

Min. down payment

3%

Why We Like ItCiti offers solid customer support and a highly rated mobile app. Borrowers need to contact the lender for a customized rate quote or preapproval — but average mortgage rates are among the lowest of lenders we review.
Pros
  • Very low average interest rates compared to other lenders, according to the latest federal data.
  • Closing cost credits and interest rate discounts available.
  • Highly rated mobile app.
Cons
  • Preapproval and application require a phone call to complete.
  • Must contact the lender for customized rate quote.
  • Doesn’t offer renovation or construction-to-permanent loans.
Flagstar
LEARN MORE
on NerdWallet
Flagstar

Flagstar: NMLS#417490

5.0
Home loans overall
NerdWallet rating
Min. credit score

N/A

Min. down payment

5%

Why We Like ItFlagstar Bank stands out for its range of accessible loans and programs, including loans with flexible requirements and down payment grant options. Its mortgage operations will be acquired by Mr. Cooper in 2024.
Pros
  • Conventional loan terms extend to 40 years, which is unusually flexible.
  • Offers options for high-balance mortgages.
  • Offers specialized mortgages for professionals, such as doctors and lawyers, starting their careers.
  • Reported average time to close (20-30 days) is faster than industry standard.
Cons
  • The lender’s mobile app is focused on banking, not mortgages.
  • Conventional fixed-rate mortgages require a 5% minimum down payment, higher than some competitors.

More from NerdWallet
Calculate your Massachusetts mortgage payment
Compare Massachusetts mortgage rates
Find Massachusetts first-time home buyer programs

Last updated on January 22, 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 Massachusetts Mortgage Lenders of 2021

  • New American Funding: Best for non-bank lenders
  • Rate: Best for online lenders
  • Rocket Mortgage, LLC: Best for online lenders
  • Veterans United: Best for veterans
  • loanDepot: Best for non-bank lenders
  • Navy Federal: Best for veterans
  • Bank of America: Best for low down payments
  • Citibank: Best for first-time home buyers
  • Flagstar: Best for low down payments
NerdWallet Pixel