★★★★★
“Love this credit union!!! The employees are friendly and easy to speak to. Definitely not what you would normally find dealing with larger banks.”
Shante H., Boston, MA
Shante H., Boston, MA
If someone calls and says they are a Mass Bay Credit Union Fraud Department employee, please hang up, do not redial, and call us at 617-269-2700 to alert us. We can answer questions, assist with your accounts, and set your mind at ease. Thank you.
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Mortgages in Massachusetts
Mass Bay Credit Union strives to be the preferred choice for home loans, delivering the personalized local service our members value and deserve. We understand the desire to borrow locally and receive support within your own community.
Competitive Interest Rates
As a member-focused, not-for-profit local mortgage lender, we offer competitive rates for more affordable payments and to help you save money throughout the life of your loan.
Flexible Term Options
Choose a repayment schedule that fits your budget and goals. Whether you're looking for lower monthly payments or a faster path to ownership, we'll help you find the term that works best for you.
Mortgages for Every Financial Need
Buying your first home, refinancing for a better rate, or upgrading to your forever home, we offer flexible mortgage solutions that meet you where you are
100% Local Lending & Servicing Teams
We're your neighbors, and like you, we value personal, local service. That’s why we make it easy to borrow close to home, and when you need support, you’ll get it from someone right here in your community.
Low Closing Costs
Our mortgages are designed to save you money from day one. We keep fees affordable so you can focus more on moving into your new home and less on upfront expenses.
Mortgage Pre-Approval
Find out how much you qualify to borrow and at what interest rate before you start searching for a home. Pre-approval gives you a clear budget, and it also helps you move quickly when the perfect home hits the market.
The Rate Improver Mortgage (TRIM™) allows you to lock in a great rate now, and if rates drop within the first 5 years, you can lower your rate and pay NO refinancing or closing fees.
The best part is you get to decide when during those first 5 years that you'd like to trim down your rate.
Eligibility for floating down your TRIM™ mortgage:
- You must make at least 6 monthly payments at the starting rate.
- You must be current on the mortgage.
- The property must still be your primary residence.
To monitor rates, please visit the www.freddiemac.com/pmms and refer to the "30-yr FRM" in the Primary Mortgage Market Survey (PMMS).
It is your responsibility to decide if and when to float down your interest rate. Mass Bay Credit Union is not responsible, nor is it obligated, to inform you if and when interest rates drop.
Lock in a great low rate with payments you know you can make today and tomorrow, with one of our low-cost fixed rate mortgage loans. With our flexible terms you can tailor your loan to the monthly payment you can afford! Our application process is one of the easiest around, and you know you won’t be overcharged when it comes to closing costs. You can apply at our South Boston Branch or Online.
Looking for a lower rate? An adjustable rate mortgage may be the right solution for you. Adjustable rate loans can be beneficial for Members looking for a lower initial rate or those who might only be staying with a property a few years. At Mass Bay Credit Union, we can help you to determine the right loan for you and help you make the best, most informed choice possible.
For many, buying a first home may be the most challenging financial transaction they will face in their lifetime. With so many decisions to be made it can seem like a real sink-or-swim proposition. At Mass Bay Credit Union, we can help first-time buyers feel more comfortable with the process. Our individualized services can help you take the guesswork out of determining what you can afford. Just call us, visit our South Boston Branch or go online and we’ll get you going.
Getting Started Is Easy
Ready to take the next ste? Call us, stop by, or apply online. We're here to help every step of the way.
Member Testimonials
How do I know which mortgage is right for me?
Choosing the right mortgage depends on your financial goals, budget, and how long you plan to stay in your home. We offer a range of mortgage options to fit your unique needs. Our experienced mortgage team will take the time to understand your goals to help you select the right loan.
What are the typical down payment requirements?
Down payment requirements vary by loan type and borrower profile. Our mortgage team will review your situation and guide you to a strategy that fits your goals. We offer a variety of programs, including options that can make homeownership more accessible for qualified buyers.
Can I refinance my existing mortgage with Mass Bay?
Yes, our team is ready to help whether you're looking to lower your interest rate, reduce your monthly payment, or switch from an adjustable rate to a fixed-rate loan.
What credit score do I need to qualify for a mortgage?
Credit score requirements vary by loan type and individual circumstances. Our mortgage team can review your situation and help you understand the programs and options that best fit your needs.
How long does the mortgage approval process take?
The timeline varies depending on the loan program and how quickly the required steps, like gathering financial information, scheduling the home appraisal, and completing other parts of the homebuying process, are completed. Our team can provide an estimate based on your situation and will guide you through each step to help keep things on track.