Expertise.com

Best Mortgage Brokers in Somerville

2024

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Providers

Last updated:

Website
184 High Street 7th Floor, Boston, MA 02110

Why choose this provider?

Brian Cavanaugh is the sales manager of Mortgage Network, who provides various financial solutions to borrowers in Somerville. He offers FHA, jumbo, VA, USDA-Rural, and fixed- and adjustable-rate loans. He also provides cash-out refinancing for homeowners whose properties' market value has increased and streamline for those who want a reduction of their monthly rates. Cavanaugh has over 20 years of experience in the industry. As a divorcee, he specializes in giving mortgage assistance to those going through a separation.

License Verified:

License: 441864

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Zillow
5.0 / 5 (158)
Facebook
5.0 / 5 (75)
Yelp
5.0 / 5 (9)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
471 Eastern Ave, Chelsea, MA 02150
  • Refinance
  • New Construction

Why choose this provider?

Boston Mortgage Services offers financial solutions to residents in Somerville. It offers purchase loans for single and multi-family units and condos. FHA, conventional, and 203K loans are also available. In addition, it provides homeowners with various options for debt consolidation, cashing out, or restructuring their loan terms through refinancing. In 2016, Elba Rojas founded Boston Mortgage Services after working in the industry for 23 years. He has a team of onsite specialists who simplify the application process for customers.

License Verified:

License: 1473315

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (76)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
73 South St 2nd Floor, Hingham, MA 02043
  • Refinance

Why choose this provider?

Birchtree Mortgage is a full-service brokerage company that caters to individuals and families in Somerville and the nearby areas. The firm assists first-time buyers in purchasing their dream homes by offering them various loan products. In addition, it has refinancing options for those who want to pull cash out of their loans and get lower interest rates. Birchtree Mortgage's owner, Mike Richton, has been in the lending and real estate industry for more than 10 years.

License Verified:

License: 1034040

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
5.0 / 5 (24)
Facebook
4.5 / 5 (13)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
1370 Dorchester Ave, Suite 24, Dorchester, MA 02122
  • Refinance

Why choose this provider?

The Mortgage Connection serves clients in Somerville and neighboring communities. It provides a wide variety of lending options for home buyers, such as FHA, VA, jumbo, conventional, and 30- and 15-year fixed-rate loans. It also helps homeowners who want to refinance their mortgage to cut their monthly payments, shorten the length of their loan, or withdraw cash from the equity in their house. The company's team members guide customers throughout the loan process, including pre-qualification, underwriting, and closing.

License Verified:

License: 1447775

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Facebook
4.8 / 5 (20)
Google
5.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
1044 Central Street, Stoughton, MA 02072
  • Refinance

Why choose this provider?

Easy Apps Mortgage serves borrowers in the Somerville community. The company provides a wide array of loan products, including conventional, FHA, VA, and USDA loans. Its brokers have experience navigating people through the buying and selling processes of commercial, residential, and investment real estate. They strive to keep up with market trends and extend their offerings to refinance options. Company president Peter Costa has over two decades of experience in the mortgage and real estate business.

License Verified:

License: 182564

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (25)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
800 West Cummings Park, Suite 5800, Woburn, MA 01801
  • New Construction

Why choose this provider?

PRMG Woburn works with clients throughout the Somerville area. The company addresses the concerns of individuals on matters related to the mortgage application process, including pre-qualification and closing. It offers solutions like the Homestyle Renovation, a program from Fannie Mae that allows borrowers to finance both property acquisition and restoration. PRMG Woburn provides other loan products backed by different federal agencies, including the VA, FHA, and USDA. It has experience dealing with foreign nationals seeking to invest in the U.S. real estate market.

License Verified:

License: 1091814

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (40)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
Melrose, MA 02176
  • Refinance

Why choose this provider?

Paul Ruggiero serves Somerville-based real estate investors and property buyers. He partners with multiple lenders to compare loan rates and provide a variety of mortgage options, such as USDA, adjustable rates, VA, 203k, FHA, and 30-and 15-year fixed mortgages. He helps first-time home buyers throughout the home selling and purchasing process. Ruggiero has over a decade of combined experience as a mortgage loan originator and real estate investor. He works with Edge Home Finance, which focuses on residential lending on one to four-unit properties.

License Verified:

License: 2094373

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (9)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
200 Berkeley Street, Office 19W-106, Boston, MA 02116
  • Refinance
  • New Construction

Why choose this provider?

CrossCountry Mortgage is a company led by originating branch manager Austin Reed, offering its expertise in the loan and home financing industry for clients in Somerville. The company provides a licensed professional that will assist in purchasing the best loan package for clients' needs. Its portfolio covers products like conventional and jumbo mortgages, government-insured programs for veterans and rural home buyers, and full-cash offers. CrossCountry has been in the business since 2003 and has over 600 branches licensed to practice in all 50 states.

License Verified:

License: 2310296

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (77)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
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Frequently Asked Questions

  • Introduction

    It’s the American dream to buy property, and almost everyone who purchases a home does so with the help of a mortgage broker. It can be intimidating when you don’t know where to begin, what information is necessary, and how to receive a loan. A mortgage broker acts as an intermediary between the applicant and the financial institution.


    The mortgage broker’s role includes comparing loan terms across lenders to find applicants the best options, collecting paperwork the financial institution needs to analyze the application, and guiding the buyer through the underwriting and closing processes. Mortgage brokers can significantly simplify the home buying process.

  • Can mortgage brokers work across state lines?

    Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for mortgage brokers. Customers should ensure their broker can legally work in another state before going across state lines. Lastly, don’t forget the mortgage process is often time-sensitive, so being in different time zones can be problematic.

  • How do mortgage brokers find lenders?

    Mortgage brokers work independently and act as a bridge between the client and the lender. They reach out to several lenders to form a network and build professional relationships with those they work with often. They use lenders who best meet a client's rates and terms, and some lenders only do business through mortgage brokers.  

  • What credit score do mortgage brokers use?

    There are two credit scoring models in the United States: FICO and VantageScore. Mortgage lenders typically prefer to use FICO. However, each credit bureau uses a different version of the FICO score:

    • Experian uses FICO Score 2
    • Equifax uses FICO Score 5
    • TransUnion uses FICO Score 4

  • Do mortgage brokers help with refinancing?

    Yes, mortgage brokers can help with refinancing. Individuals who have a solid credit score will typically go to their bank to refinance their mortgage. However, if you don't have excellent credit, a mortgage broker may be able to secure you a better interest rate than you could get on your own.

    You pay a fee to the mortgage broker, so you'll want to consider this fee versus your savings in your cost-benefit analysis.
  • Can you work with two mortgage brokers?

    You can definitely work with two mortgage brokers. The advantage of using multiple brokers is that you'll have two people reaching out to several lenders to secure the best rate possible. However, you must ensure you provide matching information to all your brokers. If two brokers provide mismatched information about your application to the same lender, it can send off red flags and delay your approval process.

  • Do mortgage brokers get better deals?

    Yes, a mortgage broker should be able to get you a better deal. Mortgage brokers go to several lenders on your behalf and find the one with the best terms and interest rates. However, note that some mortgage brokers have preferred lenders. A broker may bring you their preferred lender's offer, even if it's not the best one; however, this isn't a regular practice.