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It's a Great Day for Mortgages

About Nextgen Mortgage, Inc.

Nextgen is a leading mortgage broker in New England.
Based in New Hampshire, Massachusetts, and Maine, we are an industry leader committed to finding the best deal possible for our clients. We have customer focused policies to ensure the success of our clients. We do not charge anything until your mortgage is finalized. Simply put, we do not earn anything till you get what you came for. As a mortgage broker that puts their clients first, this policy is a testament to our commitment.
About Us

Company Success Stats

1025

Clients served

250+

Partners worked with

100+

Brokers

95%

Successful Deals

If you are looking to buy

your first home, moving, refinance, or investing in property, a mortgage broker can help

How it Works

1

First You Apply

Everything has a beginning; our experts will discuss your requirements and advise you on the best possible solutions during your application.

2

Under Processing

Our professional mortgage planners and processing team work hand and hand with you through the process to make things as easy as possible.

3

Final Approval

Once the lender gives you the clear to close we go over everything with you one last time prior to closing so you know exactly what all of the numbers are and what to expect for closing.

Our Client Testimonials

Mike was great to work with, he made the whole process of buying our first home super easy. He and his team were always quick to reply to our questions and/or provide a solution that worked best for us. We highly recommend Nextgen!

Kendra B.

We highly recommend Nextgen Mortgage. They were extremely responsive throughout the process and always quick to respond with any questions we had. The team is great there, very friendly and informative. Made it easy on our ends and always kept us in the know on everything. We were also able to get such a good rate!

Leo B.

We had an unusual set of circumstances (living overseas for 15 years, no debt and new credit in the US), unable to ascertain a loan with our bank because of overseas tax filings. Michael G*** and Nextgen Mortage made it possible for us to secure a loan and purchase our house. Mike was amazing from the moment we met - totally on our side and realistic about our expectations. I would absolutely recommend Nextgen Mortage to friends, family and anyone looking to secure a mortgage.

Cristina A.

Dealing with Mike G*** and Vince B********* made our process so seamless. Both promised us to follow up when rates where low and they did. Our refinance was a breeze and the turn around time was quick and efficient. The whole team was a pleasure to work with and incredibly professional as well as honest.

Laurie P.

Let us Help You with Your Mortgage Needs

Ready to Refinance

Need to refinance your current mortgage? Talk to our representatives; let us help you get the best possible deal.

VA/FHA

Are you eligible for a veterans loan? Need assistance with getting a VA or FHA loan, let us help you in acquiring it.

Free Consultations

Need help with loans and mortgages? Have questions and concerns that no one seems to address? Let us help you with the best advice completely free of charge.

Home Improvements

Need to carry out repairs on your property? Need to update or upgrade your home? Let us help you with your financing needs.

Current Rates – FAQs

What Is A Mortgage Broker and how are they different from a Mortgage Lender?

A mortgage broker is a person or company that helps businesses and individuals connect with mortgage lenders, whereas mortgage lenders are the businesses and banks that lend money. The broker is an intermediary that brings or matches borrowers and lenders. The process is quite complicated for an individual applying on their own. However, at Nextgen Mortgage, we handle the brunt of the work (as we are specialists, it is easy for us) so that our clients don’t have to worry about the technicalities and complications. We always keep the interests of our clients in mind and work hard to find a suitable lender according to their needs.

Loan Estimate (LE), what is it?

By law, the lender must provide the borrower with the best estimate of all costs associated with the loan within 3-days of the application.

What is the difference between Fixed and Adjustable Rate Mortgage?

Fixed-rate mortgage or FRM is, as the name suggests, a loan where the interest rate is fixed. Fixed-rate mortgages are mostly available in long term durations such as 15 year or 30-year tenures. The amount the borrower has to pay regularly is fixed as well and remains the same from start to finish. An adjustable-rate mortgage or ARM, on the other hand, is a loan where the interest rate changes with time. The factors influencing the interest rate to change are the current interest rates in the market and on the terms decided at the signing of the contract. Various factors determine the interest rate that is settled with a borrower. It can include the credit score of the borrower, the initial downpayment, the current and expected future interest rates, the value of the property for which the mortgage is being taken and other such factors.

What is a Bank Appraisal?

A bank appraisal is a professional and unbiased estimate/opinion of the value of a real estate. The appraisal might be required when a person is looking for a mortgage or when they decide to refinance the mortgage on their property. The way it is done can include checking the prices at which properties in the area have been sold, usually within a year. The other method that an appraiser might use is the cost per square foot approach, where the value of the real estate is estimated by adding the assessed price of the land to the current cost of constructing a similar property and minus the depreciation from it. This method gives a very accurate estimate if the real estate is new.

What is Refinancing?

Refinancing refers to the process of taking out a new loan by a borrower to pay off one or more outstanding mortgages or loans. The process usually involves the borrower getting the loan at a lower interest rate then what he is already paying, meaning a reduction in the amount that they give each month.

What are some costs that I need to keep in mind for buying a house?

When going for a mortgage to buy a house, there are several costs that the prospective home purchaser needs to keep in mind:
• The downpayment, which will vary depending on the mortgage plan.
• The appraisal cost
• The home inspection cost  
However, we at Nextgen Mortgage will ensure that you get the best deal possible.

What is the process to get a loan at Nextgen Mortgage?

The process of getting a loan is quite complicated if a person tries to acquire it on their own. However, we at Nextgen Mortgage have simplified it for our clients:
1. Let us know your requirements – the purpose, amount, type, etc.
2. We give you advice and also a quick quote based on your requirements
3. Check your eligibility – working through our vast network of lenders; we get the best possible option for you.
4. Applying for the Loan: Once we have finalized the lender, we work with you to complete the entire application process (see documents required for a loan) till the finalization.
Did we mention that Nextgen Mortgage does not ask you to pay any upfront charges? We get paid only when you get your loan approved; this is to show our commitment to our customers.

What is a rate lock and how does it work?

A rate lock is basically a guarantee for the interest rate that is quoted to a prospective borrower. The rate lock usually lasts from 15 days to 60 days; the longer the rate lock duration, the higher the interest rate usually is. The borrower is protected from increases in the Interest rate during the period of the rate lock. It allows the person time to complete their mortgage and property transaction before the lock expires.

Why do I have to get Mortgage Insurance?

Sometimes it happens that a person might not have the minimum required down payment for the mortgage, or the individual does not have the best credit score. In these cases, a private mortgage insurance PMI becomes a requirement by the lender to safeguard the loan amount. Since a low credit score or no or low-down-payment increases the risk factor for the lender.

What documentation is required for a loan?

1. If you are applying for a loan, then you need to be ready to provide the documentation. (Don’t worry Nextgen has you covered on this we will help you throughout the process) Some of the documents may include:

• Social security card
• One month pay stubs
• Past two year’s W-2’s
• Driver license
• Bank Statements
• Asset Statements
• A fully executed purchase contract
• A copy of an earnest money deposit check

After the formal application for the mortgage is completed, the lender may still ask for more documentation that can include:

• Updated Pay Stubs
• Updated Bank Statements
• Verification of Employment or Business
• Gift letter for a downpayment (if applicable)

Can I get rid of Mortgage Insurance?

This question is frequently asked and yes, but it depends on many factors. We can assess these factors with you free of charge. However, certain conditions need to be fulfilled before you can eliminate PMI. For more information on how to avoid or eliminate PMI you can speak to one of our experienced Loan Officers here at Nextgen Mortgage, Inc.

If you are looking to buy

your first home, moving, refinance, or investing in property, a mortgage broker can help

May 5, 2020
10 Reasons You Need Debt Consolidation During This Crisis

Debt consolidation is when you get a new loan to pay off other smaller debts, or loans that are currently being paid. Combining them all into one single loan and bringing all the loans and debts together is "consolidating" them, hence, the term debt consolidation. Since every loan has its terms, this means that you […]

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How can we Help You?

We Service New Hampshire & Massachusetts

MLO License Info: NMLS# 1621958 NH Broker license #: 22032-MBR and MA Broker license #: MB1621958 ME Broker License # 1621958 Copyright Nextgen Mortgage. All Rights Are Reserved

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