Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the State Mortgage Licensing Authority of Massachusetts before hiring.
Showing 3 home equity loan specialists in Ipswich, MA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Guild Mortgage - Ashley Borden
118 County Rd Office 121, Ipswich, MA 01938
(978) 758-9227
branches.guildmortgage.com
Kim Wrobel - Mortgage Loan Officer
Russell Plaza, 23 Market St, Ipswich, MA 01938
(617) 803-9119
td.com
What Does a Home Equity Loan Specialist in Ipswich Cost?
Typical costs for a home equity loan specialist in Massachusetts include an origination fee of 0.5 to 1 percent of the loan amount and appraisal fees ranging from 300 to 600 dollars. Closing costs may total 2 to 5 percent of the loan value. Some specialists charge a flat consultation fee of 100 to 300 dollars. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What does a home equity loan specialist do in Ipswich Massachusetts?
A home equity loan specialist guides you through the process of borrowing against your home equity. They help with application paperwork explain loan options and connect you with Massachusetts licensed lenders. They also ensure compliance with state regulations such as the Massachusetts Predatory Home Loan Practices Act.
How much equity do I need for a home equity loan in Massachusetts?
Most lenders require you to have at least 15 to 20 percent equity in your home after the loan. Massachusetts law does not set a specific minimum but lenders follow standard underwriting guidelines. Your specialist can help you calculate your equity based on your home value and existing mortgage balance.
Are there special rules for home equity loans in Massachusetts?
Yes Massachusetts has specific laws including a three day right of rescission for most home equity loans. Lenders must also provide a good faith estimate of closing costs. The state prohibits certain predatory lending practices such as balloon payments on loans under 5 years.