Massachusetts Mortgage Broker for Buyers, Refis and Investors

What buying in Massachusetts involves: the offer, the P&S and the attorney closing

Massachusetts buys a house in two steps: an offer to purchase with a small deposit, then, about two weeks later, the purchase and sale agreement, the P&S, with a larger deposit, the mortgage contingency date and the closing date. I schedule the loan around the P&S dates from the day you sign it.

Closings are conducted by attorneys. The lender’s closing attorney examines title, issues title insurance, runs the closing, disburses the money and records the deed at the registry. Most buyers hire their own attorney to review the P&S, and that attorney can often serve as the closing attorney too, which saves a fee.

Massachusetts closing costs: the deeds excise tax

Massachusetts does not call it a transfer tax, but it has one. The deeds excise is charged on the price in a deed, paid by the person signing it, which in a sale is the seller, and collected at the registry when the deed records. Buyers pay no mortgage tax.

Title 5 septic and the Massachusetts lead law

If the house is on septic rather than town sewer, the state code known as Title 5 requires an inspection by a MassDEP-approved inspector within two years before the sale, or three years with annual pumping records, with a six-month grace period when weather prevents it and exemptions for some family transfers. A failed system is repaired or replaced, usually negotiated in the P&S or escrowed at closing. Lenders want the passing report, and FHA and VA will not fund on a known failing system. See the state’s septic guide.

The Massachusetts Lead Law is a closing and ownership fact, not a lending rule. For any home built before 1978, the seller and agents must give you the state’s Property Transfer Lead Paint Notification and any lead reports before you sign the P&S, and you have at least ten days to get a lead inspection. A new owner of a pre-1978 home in which a child under six will live must have it deleaded or brought under interim control within 90 days of taking title. No lender requires deleading, but it is a cost to plan for. See the state’s lead paint notification page.

Two- and three-family houses as first homes

The three-decker is a Massachusetts institution, and in Worcester, Springfield, Lowell and New Bedford a two- or three-family is often the most sensible first home: you live in one unit and the rent from the others carries part of the mortgage, and lenders count a portion of that rent when you qualify. FHA takes 3.5 percent down on two to four units you occupy, conventional loans allow 5 percent down on an owner-occupied two- to four-family, and MassHousing and ONE Mortgage both lend on two- and three-family homes with a landlord class required. The Massachusetts FHA page covers the multi-unit rules.

MassHousing and ONE Mortgage in brief

MassHousing, the state’s housing finance agency, offers a first mortgage through approved lenders with down payment assistance as a second mortgage and income limits by community. The ONE Mortgage program from the Massachusetts Housing Partnership (MHP) is a 3 percent down loan with no private mortgage insurance and an interest subsidy for lower-income buyers. Both define a first-time buyer as someone who has not owned a principal residence in the last three years, and both require a homebuyer class. The Massachusetts first-time buyer page has the current income limits.

Massachusetts loan limits for 2026: FHA and conforming

Massachusetts has high-cost counties, so limits differ by where the house is: the five Boston metro counties and the islands carry higher limits than the rest of the state. Here are the 2026 conforming limits for a one-unit home; the FHA page lists FHA limits for all fourteen counties and one to four units.

Above the conforming limit the loan is a jumbo, and jumbo rules on reserves, credit and property vary from lender to lender more than anything else I shop.

Working with a mortgage broker in Massachusetts from Connecticut

The loan happens by phone, email and e-signature, through the same secure portal I use for Connecticut borrowers. A Massachusetts-licensed appraiser does the appraisal, a Massachusetts attorney handles title and the closing, and the deed records at your county registry. The loan is funded by whichever wholesale lender I place it with through my sponsoring broker, Barrett Financial Group.

To start, get pre-approved with Massachusetts selected, or call or text me. The refinance, self-employed and DSCR pages carry Massachusetts notes.