MORTGAGE COMPANIES
🏠 What Is a Mortgage Company?
A mortgage company helps people borrow money to buy a home (or refinance one they already own). When you don’t have hundreds of thousands of dollars lying around to buy a house outright (which most people don’t), you take out a mortgage loan.
That’s where mortgage companies come in—they lend you the money, or help you find a lender, then work with you to make sure you get approved and understand your payment terms.
Property must be approved depending on the type of loan you take out.
🧩 Types of Mortgage Companies
There are a few types:
1. Direct Lenders
These are banks, credit unions, or specialized mortgage companies.
They use their own money to fund your loan.
Example: Guaranteed Rate, Cambridge Savings Bank, Chase, Bank of America.
2. Mortgage Brokers
They don’t lend money themselves. Instead, they shop around on your behalf, comparing loans from many lenders to find the best deal for you.
Think of them like travel agents, but for home loans.
3. Correspondent Lenders
These lenders start the loan process, then sell your mortgage to a bigger investor (like Fannie Mae or Freddie Mac) after it closes.
💡 What Do Mortgage Companies Actually Do?
They help you:
Figure out how much you can borrow (based on your income, credit score, debts, etc.) Stay tuned on more about getting finances ready to purchase.
Find the right loan type (fixed-rate, adjustable, FHA, VA, jumbo, etc.)
Lock in your interest rate (to protect you from rate increases during the process)
Submit your application and documents
Work with underwriters to get your loan approved
Guide you through closing (when the loan officially funds and you get your keys)
🔑 Common Mortgage Loan Types
Loan Type | Best For | Key Feature
Conventional | Most buyers | Standard loan with good credit
FHA | First-time buyers, lower credit | Lower down payment, easier approval
VA | Veterans and military families | No down payment required
Jumbo | High-priced homes | Larger loan amounts than normal limits
Adjustable | Short-term homeowners | Lower starting rate that may rise later
🧾 What You’ll Need to Qualify
Good credit score (typically 620+ for conventional loans)
Proof of income (pay stubs, tax returns)
Low debt-to-income ratio (they want to be sure you can afford the monthly payment)
Down payment (usually at least 3–20%, depending on loan type)
🚨 Important Tips
Always shop around—interest rates and fees can vary widely.
Don’t just focus on the rate—also compare closing costs and lender fees.
Get pre-approved before house hunting so you know your budget. Note: you have to do this to look at houses in Massachusettes.
Ask questions—no question is too small when you're borrowing this much money.
Some to consider:
Santini Twins – Loan Officers @ Guaranteed Rate Affinity (Boston)
The “Santini Twins” (Lesley and Lindsay Santini) are senior mortgage pros at the 399 Boylston St branch of Guaranteed Rate Affinity.
They’re well-known in Boston real estate and have a reputation for responsiveness and care. Also serving Metro West, Wellesley, Weston, and Winchester.
🏦 Guaranteed Rate (including Guaranteed Rate Affinity)
One of the largest retail mortgage lenders in the U.S., Guaranteed Rate (and its local Affinity branch at 399 Boylston St., Boston) offers a full suite of products—from conventional and jumbo loans to FHA/VA and refinancing.
They’re known for fast-track approvals, lock-and-roll rate guarantees, and a strong technology platform to simplify your loan journey.
Whether you're a first-time buyer or refinancing, they deliver a wide mix of loan options with local Boston support.
Christina Babigian – Loan Officer @ Guaranteed Rate (Boston/Waltham area)
Based in Waltham and part of Guaranteed Rate, Christina specializes in customized mortgage solutions for the local community.
She offers access to over 150 loan products—including FHA, VA, construction loans, and MassHousing programs—and prides herself on listening first and tailoring options to fit individual needs.
A long-time local lender, she helps homebuyers navigate everything from low-down-payment options to jumbo financing.
🌱 Aura by Cambridge Savings Bank (Housing & Mortgage Lending)
Aura is the lending division of Cambridge Savings Bank, offering tailored mortgage solutions with a local, community-focused touch.
They provide first-time homebuyer programs, government-backed loans, refinancing, and more—often with personalized service and in-house underwriting.
Known for combining modern speed and digital convenience with the warmth and trust of a Massachusetts-based bank.
And, our newest, Agent Realtor, Laverne Merritt, uses Salem Five:
🏡 Salem Five Mortgage Overview
✅ Local Expertise
Salem Five has deep roots in the Greater Boston area and beyond, so they really understand the local real estate market—whether you're buying in MetroWest, the North Shore, or anywhere in New England.
✅ Wide Range of Loan Options
They offer all the standard mortgage products:
Conventional fixed-rate and adjustable-rate mortgages (ARMs)
FHA, VA, and USDA loans
Jumbo loans
First-time homebuyer programs
Refinancing options
✅ First-Time Homebuyer Support
Salem Five offers low down payment options (sometimes as low as 3%) and specialized guidance to help first-timers understand each step of the process. They often participate in MassHousing programs and down payment assistance options as well.
✅ Local Loan Officers
You can actually sit down with someone who knows the area. Their loan officers are known for being approachable, responsive, and helpful with explaining terms and steps.
✅ Competitive Rates & Fast Pre-Approvals
They offer competitive rates, and their digital tools can help you get pre-approved quickly, but you also have the option for in-person service.
📝 A Quick Example
Let’s say you’re buying a home in Medford or Salem or Needham and you’re feeling overwhelmed. Salem Five could match you with a local loan officer who walks you through:
What you can afford
What loan options are best
What programs you qualify for (like first-time buyer incentives)
And even help you understand property taxes or insurance costs in that area.
✅ Final Notes:
Guaranteed Rate offers national scale with local presence through branches in Boston and Waltham, led by experienced officers like Christina and the Santinis.
Each professional has experience helping local Massachusetts buyers—whether it’s a low-down FHA loan, MassHousing assistance, or conventional financing.
Aura represents a more boutique, community banking approach from Cambridge Savings Bank, with mortgage support rooted in local service and funds.