Mortgage Broker in Lynn, MA
Nearly three in ten of Lynn’s one-to-three-family houses hold more than one unit. The unit count changes the limit, the rules and the rent you can count.
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Tell us the building. A licensed loan officer calls you back. No credit pull to start.
We can pre-qualify you and show you options from several lenders. GoldCoast is a mortgage broker, not a lender.Thank you
Your request is in. A licensed loan officer will call you back, usually the same day. If it’s urgent, call 978-922-4446.
Figures from Redfin (three months to August 31, 2026), Lynn’s FY2026 assessor data via MassGIS, and the Federal Housing Finance Agency’s 2026 county loan limit file.
Lynn Mortgages in 2026
Limit Rises with Units
A jumbo loan is larger than the conforming limit for its county and unit count, and comes with stricter rules. In Essex County the line moves a long way as the units go up.
| One unit | $962,550 |
|---|---|
| Two units | $1,232,250 |
| Three units | $1,489,500 |
| Four units | $1,851,100 |
A three-family buyer gets $526,950 more conforming room than a single-family buyer in the same county.
No Owner Exemption
Several Massachusetts cities cut an owner-occupier’s bill with a residential exemption. Lynn grants none, so the bill is assessed value times rate.
| Average single-family value | $585,590 |
|---|---|
| Average single-family bill | $6,032 |
| Up on fiscal 2025 | $286 |
What Affects a Lynn Loan
Two Units or Three
Lynn holds 2,947 two-families and 1,704 three-families. On an FHA loan a three-family has to pass a rent test a two-family never faces.
What the rent test asks
On a three or four-unit home the projected rent, after a vacancy deduction, has to cover the full payment. A two-family skips the test. We run both before you offer.
Under Five Units
By our count from the city’s assessor data, 205 of Lynn’s 333 condominium projects hold fewer than five units. FHA’s single-unit approval route needs five.
What works instead
A conventional loan with a low down payment usually works on a small association where that FHA route is closed. Lynn is full of two and three-family houses converted to condominiums.
VE Is Different
130 Lynn residential parcels are in Zone VE, the wave-action zone, almost all of them condominium units in two Lynnway buildings.
Why VE is not AE
VE means the water is expected to arrive with wave force rather than rise, and insurers treat the two differently. Lynn’s mapped VE elevations run 14 to 21 feet.
Lynn Flood Zones
of Lynn’s residential parcels are inside a FEMA high-risk flood zone, by our own count against FEMA’s map and the city’s assessor file. Condominiums are the most exposed class at 11.3 percent.
Street by street it is sharp. 66 Tudor Street is Zone VE with a base flood elevation of 18 feet, and 56 Tudor Street, 35 metres away, is Zone X. Pan the map, or send us the address.
Check an address with usLive FEMA flood layer. Official determinations: FEMA's Map Service Center.
Lynn Loan Details
The City Runs Both
The Lynn Water and Sewer Commission supplies and treats both, drawing from Breeds, Birch, Walden and Hawkes Ponds, primarily off the Saugus and Ipswich rivers.
No Rural Loan
Every point we tested across the city, from City Hall to Pine Hill to the Diamond District, falls inside USDA's ineligible area. The zero-down rural loan isn't available here.
No Override, No CPA
Lynn appears in neither of the state's Proposition 2 1/2 vote lists and has never adopted the Community Preservation Act, so there's no surcharge line. The rate edged down from $10.36 to $10.30.
| Flood zones | 4.1% of residential parcels, including 130 in Zone VE. Map above. |
|---|---|
| Tax rate | $10.30 per $1,000 residential, $19.64 commercial (fiscal 2026), with no residential exemption. |
| MBTA Communities zoning | Commuter rail community. The city reports compliance as of May 12, 2025, with capacity for 9,429 homes against a 5,517 requirement. |
| Commute | Lynn Interim station, 25 to 30 minutes to North Station. A seasonal ferry runs about 40 minutes. |
| Deeds recorded at | Southern Essex Registry, 100 Cummings Center, Beverly. |
Run Your Closing Costs
Lynn's $10.30 rate, four months of escrow and the Southern Essex registry fees, on any price you type.
What will closing cost in Lynn?
Start from Lynn's median price or type your own. Every line below is an estimate you can adjust.
Prefilled with the Lynn median. Change it to the house you are actually looking at.
Changes the loan amount, which moves several buyer line items.
| Line item | Estimate |
|---|---|
| Total | $0 |
The property tax, the deed excise and the recording fees above use Lynn's own figures: its current tax rate, its median sale price and the fees charged at its registry of deeds.
Talk to GoldCoast about your home ownership planAn estimate, not a quote. GoldCoast Mortgage Service is an independent mortgage brokerage, so we shop your loan across lenders rather than selling one bank's product. We can pre-qualify you and put real numbers against the house you are actually looking at.
An estimate, not a quote. Your Loan Estimate from the lender is the real number.
From Renting in Lynn to Owning
Two numbers settle it: the payment your rent would cover, and the cash to close. The calculator above covers the cash. These cover the rest.
Why a Local Broker
- We shop your loan across many lenders. A bank can only offer its own.
- We've arranged mortgages on the North Shore from one Beverly office for more than 25 years, and Lynn's two and three-families are a regular part of it.
- A licensed loan officer picks up, not a call center.
Loan officers John Donlon, owner (NMLS #4931), Jeff Rolke (NMLS #1217216) and Matthew Teeter (NMLS #20485).
"John Donlon and his team at GoldCoast Mortgage are amazing to work with and made the whole process incredibly easy!!"Fred Berg, Google review
- A 15-minute quick chatNo credit pull to start.
- Your pre-qualificationWhat each loan type would cost on this home.
- We shop the lendersYou choose the loan and terms that fit.
Lynn Mortgage Questions
Does a three-family qualify differently from a two-family?
On an FHA loan, yes. A three or four-unit building has to pass a rent test a two-family never faces, and the conforming limit rises with the unit count.
Is there a residential exemption in Lynn?
No. The assessors confirmed it at the fiscal 2026 classification hearing. Several nearby cities do grant one, so a comparison across city lines is not like for like.
How far is the train?
The stop is called Lynn Interim while the permanent station is closed, and inbound trains reach North Station in 25 to 30 minutes. River Works is in Lynn too, but only GE employees can use it.
Bring Us the Building
Unit count decides the limit, the rent we can count and which programs stay open. Tell us the address and we'll have the answer before your offer goes in.
Nearby: Swampscott · Saugus · Nahant · Peabody · Revere · Marblehead · Refinancing in Lynn · Every town we serve
GoldCoast Mortgage Service, Inc., 100 Cummings Center, Suite 544H, Beverly, MA 01915. 978-922-4446.
NMLS #1841. Massachusetts Division of Banks Mortgage Broker License #MB1841. GoldCoast is a mortgage broker, not a lender. Loan approval, rates and terms are set by the lender.