Mortgage Brokers in Somerville, MA
Browse mortgage brokers serving Somerville, Massachusetts. Contact information and addresses listed below.
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 9 mortgage brokers in Somerville, 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.
Mortgage brokers in Somerville Massachusetts help homebuyers and homeowners find suitable loan products from multiple lenders. Massachusetts law requires mortgage brokers to be licensed by the Division of Banks. Brokers can assist with conventional FHA VA and jumbo loans for properties in Somerville and the greater Boston region.
What Does a Mortgage Broker in Somerville Cost?
Mortgage broker fees in Massachusetts typically range from 1% to 2% of the loan amount. For a $500,000 home this means $5,000 to $10,000 in broker compensation. Some brokers charge a flat fee of $2,500 to $5,000. Costs vary by loan type lender and borrower qualifications. 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 is the difference between a mortgage broker and a loan officer in Somerville?
A mortgage broker works with multiple lenders to find you a loan while a loan officer works for one specific bank or credit union. Brokers in Massachusetts must hold a state license and provide a Good Faith Estimate of fees.
How do I verify a mortgage broker license in Massachusetts?
You can check a mortgage broker license through the Nationwide Multistate Licensing System NMLS. Massachusetts law requires brokers to display their NMLS number on all advertisements and documents.