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Massachusetts Mortgage Rates

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Last updated: Dec 07, 2021
2.742% APR 30 Year Fixed
$1,005 / month
Rate: 2.625%
Fees: $3,852
Lock: 30 days
Points: 1.541
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3.103% APR 30 Year Fixed
$1,048 / month
Rate: 2.950%
Fees: $4,930
Lock: 60 days
Points: 1.972
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3.052% APR 30 Year Fixed
$1,038 / month
Rate: 2.875%
Fees: $5,724
Lock: 30 days
Points: 1.638
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2.846% APR 30 Year Fixed
$1,021 / month
Rate: 2.750%
Fees: $3,125
Lock: 30 days
Points: 1.250
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3.103% APR 30 Year Fixed
$1,048 / month
Rate: 2.950%
Fees: $4,930
Lock: 60 days
Points: 1.972
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3.564% APR 30 Year Fixed
$1,106 / month
Rate: 3.375%
Fees: $5,938
Lock: 30 days
Points: 1.875
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3.052% APR 30 Year Fixed
$1,038 / month
Rate: 2.875%
Fees: $5,724
Lock: 30 days
Points: 1.638
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2.538% APR 30 Year Fixed
$972 / month
Rate: 2.375%
Fees: $5,435
Lock: 45 days
Points: 1.856
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3.108% APR 30 Year Fixed
$1,053 / month
Rate: 2.990%
Fees: $3,805
Lock: 45 days
Points: 1.522
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3.417% APR 30 Year Fixed
$1,089 / month
Rate: 3.250%
Fees: $5,312
Lock: 30 days
Points: 1.625
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2.742% APR 30 Year Fixed
$1,005 / month
Rate: 2.625%
Fees: $3,852
Lock: 30 days
Points: 1.541
View Details
2.719% APR 30 Year Fixed
$1,005 / month
Rate: 2.625%
Fees: $3,068
Lock: 30 days
Points: 1.149
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2.758% APR 30 Year Fixed
$1,005 / month
Rate: 2.625%
Fees: $4,375
Lock: 30 days
Points: 1.750
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2.736% APR 30 Year Fixed
$1,005 / month
Rate: 2.625%
Fees: $3,650
Lock: 30 days
Points: 1.460
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3.146% APR 30 Year Fixed
$1,055 / month
Rate: 3.000%
Fees: $4,678
Lock: 45 days
Points: 1.531
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2.660% APR 30 Year Fixed
$988 / month
Rate: 2.500%
Fees: $5,280
Lock: 30 days
Points: 1.636
View Details
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Massachusetts Mortgage Overview

Massachusetts has around 6.8 million people and the average home price is around $380,000. It's one of the most populated states in the New England area thanks to its incredible economy rich with high-tech companies and a diverse set of industries.

If you're looking for a stable place to buy a home Massachusetts is a great choice. Here are your loan options in Massachusetts:

Massachusetts FHA loans

Borrowers with less than perfect credit enjoy the FHA loan. You only need a 580 credit score for a 3.5 percent down payment or a 500 - 579 score with a 10 percent down payment. FHA loans have flexible deb ratio guidelines and as long as you have a stable income, may be a good candidate. The rates are low, but the mortgage insurance lasts for the loan term.

Massachusetts VA loans

Veterans don't need perfect credit to buy a home. The VA loan makes it easy. All you need is proof of your time in the military, a 620 credit score, and enough money to cover your debts and the cost of living. VA loans don't charge mortgage insurance.

Massachusetts USDA loans

If you will live in a rural area and make less than 115 percent of the area's median income, the USDA loan may be a great option. You don't need a down payment but must have a 640 credit score and a max 41 percent debt ratio. USDA loans have mortgage insurance for the loan term, but the rates are low.

Massachusetts conventional loans

If you have great credit and a 3 percent down payment for first-time homebuyers or 5 percent for everyone else, the conventional loan may be a great option. Conventional loans require low debt ratios and stable employment, but in exchange have low rates and Private Mortgage Insurance you can cancel when you owe less than 80 percent of the home's value.

First-Time Homebuyer Programs in Massachusetts

MassHousing Mortgage

The MassHousing mortgage makes it easy to afford a mortgage if you are within the income limits for your area. It offers low interest rates to make the mortgage more affordable.

Down payment assistance

Receive up to 5 percent of the home's purchase price or $15,000 as a 15-year term with a 2 percent rate. If you sell the home or refinance, the loan becomes immediately payable.

Workforce Advantage 2.0

If you earn 80 percent or less of the area's median income, and purchase a single-family home or condo, you may secure a low rate first mortgage and 0% interest down payment loan. Payments are deferred until you move or refinance the loan.

Expanded Down Payment Assistance

If you move to certain areas of MA, you may receive an amount of down payment assistance that's 5 percent of the sales price or $25,000, whichever is less.

Operation Welcome Home

Veterans and members of the Reserves may get up to $2,500 in closing cost assistance along with a loan with favorable terms.

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