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 2 mortgage brokers in Somerset, 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.
Scott King
815 Grand Army of the Republic Hwy, Somerset, MA 02725
(508) 728-5974
lo.citizensbank.com
What Does a Mortgage Broker in Somerset Cost?
Mortgage broker fees in Massachusetts typically range from 1% to 2% of the loan amount. For a $300,000 home loan, this means $3,000 to $6,000 in broker compensation. Some brokers charge a flat fee of $2,500 to $5,000. Costs vary by loan type and complexity. This is general information, 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 mortgage broker in Somerset do?
A mortgage broker acts as an intermediary between you and multiple lenders. They gather your financial information, shop for loan options, and help you choose a mortgage that fits your needs. In Massachusetts, brokers must provide a Good Faith Estimate of costs upfront.
How do I choose a mortgage broker in Somerset Massachusetts?
Look for a licensed broker with experience in Massachusetts mortgage laws. Check their reputation with local real estate agents and past clients. Ask about their lender network and fees before committing.
Are there Massachusetts specific rules for mortgage brokers?
Yes. Massachusetts requires mortgage brokers to be licensed and pass a background check. They must follow the Massachusetts Predatory Home Loan Practices Act and provide clear disclosures about fees and interest rates. Brokers cannot charge fees without a signed agreement.