Onshore Mortgage logo

Rising Above
Expectations

With over 27 years experience we can deliver a variety of mortgage solutions at today's competitive rates.

Onshore: \ˈȯn-ˌshȯr \ Situated on or near the shore

Mortgage Broker bringing ideas to life with personalized mortgage solutions and secure online applications

Shaking hands icon.

Our Programs

Whether you're a first-time homebuyer or a seasoned investor, we can help tailor a loan that fits your specific needs.

Bullseye target icon.

Strategic Advice

We have over 27 years experience writing loans and a firm commitment to put your goals at the center of what we do.

Contact us form icon.

Contact Us

Not ready yet? Don't hesitate to reach out to us via phone or email us to discuss your home financing concerns.

Onshore Mortgage office desk with computer

Our Solutions

At Onshore Mortgage,LLC. we take pride in helping borrowers achieve their home financing goals with a fast, easy, and secure way of obtaining a mortgage. We are a full-service Mortgage Broker providing customized mortgage loan solutions and have access to many loan programs such as Conventional, FHA, VA, USDA, JUMBO, Asset Only and New Construction Home Loans. With so many loan options available, it’s important to choose a mortgage professional that will work tirelessly to find you the best possible solution.

Onshore Mortgages' application process is 100% online and paper-free. You can apply, review your credit, upload, and sign loan documents instantly and securely. We have an intuitive loan application process that empowers borrowers to submit their required documentation securely and with complete transparency. Access your information conveniently through your loan dashboard and stay organized throughout the mortgage process. Our efficiency helps us to close most loans in as little as ten business days and our low overhead drives down costs allowing us the opportunity to provide you with a competitive mortgage interest rate.  

We also understand that every borrower is unique, so we approach each mortgage transaction with the same level of detail and commitment to excellence, regardless of loan size or credit score. We strive to deliver a hassle free, secure customer loan experience and look forward to the opportunity to learn more about your goals.

Every home loan has a story. Let us write yours.

Conventional Loan, House Icon.
Conventional
Home Loans

Typically, a fixed rate home loan that allows the borrower to put a down payment as low as 3%. Borrowers also can eliminate PMI once they hold 20% equity in their property.

  • Low Rates

  • Fixed or Adjustable Terms

  • Flexible Down Payments

Conventional Loan Highlights:

When the loan amount is within your counties loan limits, and adheres to guidelines set by Fannie Mae and Freddie Mac, they are referred to as "Conventional" or "Conforming" loans.  The maximum conventional loan limit depends on the county and state the property is located in.

Conventional loans can either be fixed-rate or adjustable-rate. With a fixed-rate mortgage, borrowers get the luxury of knowing their interest rate is set for the entire term of the loan. On the other hand, with an adjustable-rate mortgage, the borrower has an introductory rate for a fixed period followed by periodic adjustments according to the specific benchmark.

If your credit and income qualify and you want to purchase a new home in Massachusetts or Rhode Island, a conventional loan may be the right choice for you. Conventional loans require a down payments as low as 3% for a fixed-rate term or as low as 5% for an adjustable-rate.

*Credit and income restrictions do apply. Please visit our Disclosures page for a detailed breakdown of all loan types.

Conventional Loan Highlights
Jumbo Loan Icon.
Jumbo
Home Loans

Reserved for clients looking to purchase a home above your county conforming loan limit. You have the income and the reserves to support a large monthly payment.

  • High Credit Score

  • High Loan Limit

  • Substantial Down Payment

Jumbo Loan Highlights:

When you’re buying a home that requires a mortgage above the Conventional limits in your area you would need to apply for a "Jumbo" home loan. You will need a significant income and substantial reserves to support a large home. If your credit and down payment are strong enough, a jumbo loan can give you the opportunity to get you into the home of your dreams.

We offer a wide variety of fixed, adjustable rate and interest-only Jumbo mortgages with a maximum loan amount of $3 million dollars. For highly-qualified buyers, we offer programs with loan to values and high as 90% with no mortgage insurance needed.

To qualify, you should have a strong work or income history, a low Debt-to-Income (DTI), a significant down payment, and the ability to cover between 6 to 12 months of mortgage payments via bank reserves or retirement assets.

*Credit and income restrictions do apply. Please visit our Disclosures page for a detailed breakdown of all loan types.

Jumbo Loan Highlights
VA Loan Icon.
VA
Home Loans

Reserved for veterans who served our country. Borrowers can take advantage of no money down and NO monthly mortgage insurance.

  • 0% Down

  • No Mortgage Insurance

  • High Debt to Income Ratio

VA Home Loan Highlights:

This loan product helps qualified veterans, reservists, active duty service members and their spouses take advantage of zero down-payment requirements and low mortgage rates.

Qualified veterans may be able to finance up to 100% of the purchase price with no down-payment required. The VA does not require monthly mortgage insurance, however an upfront funding fee is generally required for all transactions and rolled into the loan amount.

A "qualified veteran" is someone who is in active service, or who has served and was honorably discharged from active duty in the Army, Navy, Air Force, Marine Corps, or Coast Guard. Those who were discharged because of service-connected disabilities and non-remarried surviving spouses of a service member may also qualify.

As of the 2024 VA update, the VA loan limit is $766,550 for most U.S counties. VA loan limits for high-cost counties top out at $1,149,825 for a single-family home.

*Credit and income restrictions do apply. Please visit our Disclosures page for a detailed breakdown of all loan types.

Va Loan
Highlights
FHA Loan, House Icon.
FHA
Home Loans

Backed by the Federal Housing Administration (FHA), there are options for borrowers with lower credit scores as well as flexible income guideline requirements.

  • 3.5% Down Payment

  • First Time Homebuyers

  • Low to Moderate Income

FHA Home Loan Highlights:

Low down-payment and flexible requirements for income, debt and credit make this loan ideal for "first time home-buyers" with limited savings.

Low credit score borrowers can still qualify for competitive rates to help keep monthly home ownership costs down.

FHA loan requirements include paying two types of mortgage insurance premiums: Up Front Mortgage Insurance Premium (UFMIP) which the borrower can pay as a lump sum in cash or include it in the loan amount, and an Annual MIP which is included as part of their monthly payment.

As of February 2023, UPMIP is 1.75% of the loan amount and "annual" MIP is approximately 0.55% of the loan amount. This amount does change from time to time so make sure you call us for updated amounts.

*Credit and income restrictions do apply. Please visit our Disclosures page for a detailed breakdown of all loan types.

FHA LOan
Highlights
USDA Loan Icon.
USDA
Home Loans

With no down payment and no closing cost options, these loans are ideal for homebuyers settling in designated USDA rural areas.

  • 0% Down Payment

  • Low Income Borrower

  • Rural Approved Areas Only

USDA Home Loan Highlights:

If you’re buying a home in a rural community, you could qualify for a no-money down financing program through the Rural Housing Service (RHS), an agency of the U.S. Department of Agriculture (USDA).

USDA loans offer flexible down-payment options, making home ownership affordable for many rural dwellers. Surprisingly most of our country is deemed 'Rural".

This loan product is great for low-to-moderate income buyers with limited funds for down-payment and closing costs. Your mortgage insurance premium is less than what you would pay for a conventional loan or FHA loan. It’s comprised of an upfront guarantee fee of 1% of your loan amount and a annual fee 0.35% of your loan amount added to your monthly payment.

The primary residence must be located in an eligible rural area. Contact us to determine if your subject property address falls into an USDA eligible area.

*Credit and income restrictions do apply. Please visit our Disclosures page for a detailed breakdown of all loan types.

USDA Loan Highlights
Asset Only Loan Icon.
Asset Only
Home Loans

Reserved for clients that have sizable assets, but don’t have sufficient monthly income from regular employment.  Eligibility for this program is determined solely based on your assets which are liquid or may be liquidated without restriction.

  • High Credit Score

  • High Loan Limit

  • Substantial Down Payment

Asset Only Home Loan Highlights:

This program caters to borrowers that don't meet Fannie Mae or Freddie Mac guidelines.  Qualified borrowers may be able to finance up to 90% of a home's purchase price and up to 80% of its value for a cash-out or rate-and-term refinance. While consistent monthly income isn't required for qualification, the borrower’s “ability to repay” must be documented.

Assets used for this program must be liquid or capable of being liquidated without restrictions within 30 days. For income calculations, your available assets will be adjusted by deducting any early withdrawal penalties, down payment, closing costs, and required reserves then divided by 84. Additional documentation might be needed to verify the source of any recent large deposits in your accounts.

Typically, the interest rate on these loans is slightly higher due to the complexity of the program. Keep in mind that the value of your assets could decrease over time if you’re using them to make monthly payments.

*Credit and income restrictions do apply. Please visit our Disclosures page for a detailed breakdown of all loan types.

asset only loan
Highlights
Construction Loan Icon.
Construction Loans
One Time Close

The one-time close new construction loan allows buyers to avoid the hassle of having to close multiple loans during the construction process, saving time and money. The loan is available on single-family and multifamily homes up to 4-units for any primary residence purchases.

  • High Credit Score

  • Low Down Payment

  • Purchase land with loan

Construction Loan Highlights:

This program is designed to provide buyers and builders with more flexibility and convenience, as they can now access the funds, they need in one simple mortgage closing. The one-time close new construction loan allows buyers to avoid the hassle of having to close multiple loans during the construction process, saving time and money. The loan is available on single-family and multifamily homes up to 4-units for any primary residence purchases.

Buyers can use the loan to purchase the home's land, pay for construction and development costs, as well as cover the costs of fixtures and appliances. During the build period, the borrower can enjoy a lower, interest-only payment.

The loan is backed by a long-term, Conventional fixed-rate mortgage and provides buyers with the peace of mind that their loan interest rate won't change over the 11-month required build time. It also offers a lower down payment than most construction loans and provides buyers with more flexibility on how they can use their loan funds. Once the loan is complete, borrowers can float down to secure a lower interest rate if the market dramatically changes or stay locked in if the market shifts higher.

Ready to build your dream home?

*Credit and income restrictions do apply. Please visit our Disclosures page for a detailed breakdown of all loan types.

construction loan
Highlights
Conventional Loan, House Icon.

Conventional Loan

House on Paper Icon

Jumbo Home Loan

Chevron down Icon

VA Home Loan

Home percentage Icon

FHA Home Loan

Farm Icon

USDA Home Loan

Document icon

Asset Only Home Loan

Construction Loan Icon

Construction Loan

Our Reputation

Latest Articles

Understanding Your Mortgage Closing Costs

Published:

December 3, 2024

Closing costs are a critical part of the homebuying process that shouldn’t be overlooked. By educating yoursself on what to expect and finding strategies to manage these costs, you can navigate the final steps of your home purchase or refinance with confidence. At Onshore Mortgage, LLC we’re committed to providing the guidance and support needed to ensure a smooth and successful closing for every client.

Take Advantage of 2025 Conforming Loan Limits

Published:

November 27, 2024

The FHFA raised 2024 Conforming loan limits to $806,500 in MA & RI, and $1,209,750 in high-cost areas, ensuring they align with current market trends.

10 Essential Qualities to Look for in a Mortgage Broker

Published:

November 1, 2024

Choosing the right mortgage broker is a crucial step in the homebuying process. By considering these ten factors, you can find a broker who not only meets your immediate needs but also supports your long-term financial goals. Remember, your mortgage is more than just a loan—it’s a partnership that can help you achieve the dream of homeownership with confidence and peace of mind.

See More Great Articles
From Onshore Mortgage

Follow us on Instagram

Need to Mail Us Documents?

Please Mail them to:

Onshore Mortgage, LLC.
82 County Road (Route 6)
Mattapoisett, MA 02739

Phone:

508-801-4815

email:

Grant@OnshoreMortgage.com