Mortgage lender closing cost rankings in Massachusetts (2025)

Massachusetts is an attorney closing state, meaning a licensed attorney — not just a title company — must be present at the closing table to conduct the settlement. This adds a legal fee line item that buyers should budget for separately from title insurance. The state uses mortgages (not deeds of trust) and follows a judicial foreclosure process, which gives borrowers more procedural protections but makes foreclosures slower and more costly for lenders. Massachusetts imposes a state deed excise tax of $4.56 per $1,000 of sale price, with sellers customarily paying this cost, though terms are negotiable. The state Division of Banks regulates mortgage lenders and servicers and enforces the Massachusetts Predatory Home Loan Practices Act, which restricts prepayment penalties and high-cost loan terms on covered loans. Title insurance rates in Massachusetts are filed with the state's Division of Insurance under a file-and-use framework, meaning insurers submit rates before use without prior approval. Buyers should confirm their attorney is also issuing or coordinating title insurance to avoid duplicative fees.

Conventional loans dominate Massachusetts mortgage activity by a wide margin, accounting for 84.5% of 2024 purchase originations per HMDA data, reflecting the state's high home prices and the prevalence of financially established buyers. FHA loans represent 11.8% of volume — a meaningful share driven by first-time buyers navigating the state's expensive entry-level market. VA loans account for 3.7% of originations, a relatively modest share consistent with Massachusetts having a smaller active-duty military population compared to states with large bases. USDA loans are nearly absent at 0.1%, unsurprising given the state's predominantly urban and suburban geography with limited eligible rural areas.