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Showing 2 mortgage lenders in Melrose, 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.
Cambridge Savings Bank
638 Main St, Melrose, MA 02176
7816652501
Mortgage, Bank of America
690 Main St, Melrose, MA 02176
6174105677
What Does a Mortgage Lender in Melrose Cost?
Typical mortgage lender costs in Massachusetts include an origination fee of 0.5 to 1.0 percent of the loan amount, appraisal fees of 400 to 700 dollars, and title insurance of 500 to 1,500 dollars. Closing costs generally total 2 to 5 percent of the purchase price. This information is general 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 documents do I need to apply for a mortgage in Melrose?
You typically need pay stubs, tax returns, bank statements, and photo identification. Massachusetts lenders also require a signed purchase and sale agreement for home purchase loans.
How long does the mortgage approval process take in Massachusetts?
The process usually takes 30 to 45 days from application to closing. Massachusetts law requires a three day rescission period for refinances after closing.
Are there first time home buyer programs in Massachusetts?
Yes, Massachusetts offers programs like MassHousing and ONE Mortgage for first time buyers. These programs provide lower down payment options and reduced mortgage insurance requirements.