Mortgage Broker in Peabody, MA
Route 1 meets 128 here, and the city runs from a downtown flood corridor to West Peabody’s quiet streets. We shop your mortgage across many lenders and fit it to the house and the block.
Free Quick Chat
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), the Division of Local Services, and the City of Peabody’s 2026 hazard mitigation plan update.
Peabody Mortgages in 2026
Jumbo Line by Units
A jumbo loan is larger than the conforming limit for its county and unit count, and comes with stricter rules and a bigger down payment. Essex County’s 2026 limits rise with the units.
| One unit | $962,550 |
|---|---|
| Two units | $1,232,250 |
| Three units | $1,489,500 |
| Four units | $1,851,100 |
Peabody’s median sale is a long way under the one-unit line.
Surcharge from Dollar One
Peabody adopted the Community Preservation Act in 2002 at 1 percent and took none of the three optional exemptions. Most CPA communities exempt the first $100,000 of value. Peabody doesn’t, so the surcharge rides on the whole bill and your lender escrows it with the rest.
| Surcharge adopted | 1.00%, in 2002 |
|---|---|
| Low-income exemption | None adopted |
| First $100,000 exemption | None adopted |
What Affects a Peabody Loan
No CRS Discount
Peabody is not enrolled in the National Flood Insurance Program’s Community Rating System, so no community discount reduces a flood premium at a Peabody address.
What the city says about joining
The city’s 2026 hazard mitigation plan carries enrolment as an open action, to be explored over the next five years. Until then a high-risk address pays the undiscounted rate, and flood insurance is part of the payment your loan is sized against.
Brooksby Is Rental
Peabody’s largest 55+ community is a single 89-acre tax parcel in the apartment class. There are no individual units there to buy, so there is nothing to finance.
Why buyers find out late
Nothing on a tour says rental. A purchase loan needs a unit that can be conveyed on its own deed, and this parcel has none. If it’s on somebody’s list, bring us the question early.
Nearest Stop Salem
Peabody has no commuter rail station. Salem is 1.7 miles away and runs 35 to 40 minutes to North Station.
Why a mortgage cares
Three MBTA bus routes serve the city and all three end at Lynn or Salem, so most Boston commutes here start in a car. A car payment lowers what you can borrow, which is worth modelling before you shop.
Peabody Flood Zones
parcels are inside Peabody’s high-risk flood zone, and the city counts 46 of them as repetitive-loss properties. Almost everything outside the downtown corridor, West Peabody included, is Zone X.
The line runs down the middle of streets downtown. 5 Walnut Street is Zone AE and 30 Walnut Street is Zone X. 20 Central Street is AE and 100 Central Street is X. Pan the map to your street, or send us the address.
Check an address with usLive FEMA flood layer. Official determinations: FEMA's Map Service Center.
Peabody Loan Details
City Water, District Sewer
Peabody runs its own water from two treatment plants, one on Winona Pond and one drawing from Suntaug Lake and Spring Pond, both fed by the Ipswich River. Wastewater goes to the South Essex Sewerage District and is treated in Salem.
No Zero-Down Here
No part of Peabody qualifies for USDA's zero-down rural loan, West Peabody included. Middleton, which borders the city, is eligible, so the nearest zero-down option is one town line away.
Never an Override
Peabody appears in none of the state's four Proposition 2 1/2 vote reports, so no override, debt exclusion or capital exclusion has ever been voted here. The Community Preservation surcharge has been 1 percent since 2002.
| Flood zones | 696 parcels in the high-risk zone, 46 of them repetitive-loss. Map above. |
|---|---|
| Tax rate | $9.47 per $1,000 residential, $18.85 commercial (fiscal 2026), plus the 1 percent CPA surcharge. |
| MBTA Communities zoning | Compliant since April 18, 2025. A 121.3-acre overlay allows 2,336 homes as of right. |
| Commute | No station in the city. Salem is 1.7 miles away, 35 to 40 minutes to North Station. |
| Deeds recorded at | Southern Essex Registry, 100 Cummings Center, Beverly. |
Run Your Closing Costs
Peabody's $9.47 rate, four months of escrow and the Southern Essex registry fees, on any price you type.
What will closing cost in Peabody?
Start from Peabody's median price or type your own. Every line below is an estimate you can adjust.
Prefilled with the Peabody 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 Peabody'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 Peabody 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 work from one office at 100 Cummings Center in Beverly, a few miles up the road from Peabody Square, and we've been doing it for more than 25 years.
- 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.
Peabody Mortgage Questions
Does the Community Preservation surcharge reach my escrow?
Yes. It's part of the tax bill, so your lender collects it with the rest. Peabody took none of the optional exemptions, so the 1 percent applies to the whole bill.
Is West Peabody treated differently?
Not by the loan rules. Same tax rate, same registry, same USDA answer, which is no. What differs is the housing. West Peabody is mostly single-family, and the flood exposure is downtown.
Can I buy a unit at Brooksby Village?
No. The whole community is one tax parcel in the apartment class, so there's no individual unit to convey or to finance. If it's on somebody's list, bring us the question early.
Send Us the Address
We'll tell you which loans fit the house, and if its street is in a flood zone, before your offer goes in.
Nearby: Danvers · Swampscott · Marblehead · Lynn · Saugus · Wenham · Renting at Alexan Peabody · Refinancing in Peabody · 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.