Best Credit Builder Loans in Massachusetts

Published: 18 April 2024

Author: Noah Gomez 

Finding the right credit builder loan can be challenging. You may be tempted to choose a popular national offer, but local institutions often propose superior terms.

In Massachusetts, we looked at over 14 banks, credit unions, and digital lenders to find the most competitive options on the market.

Best Overall

Milford Federal Bank

Avg. Principal: $1,250
Avg. APR: 3%
Avg. Length: 18 months

At 3.00%, Milford credit builder loan's APR is less than half the national average. Given that it's available up to 24 months on principal up to $2,000, most borrowers will find an optimal arrangement with the bank.

Best from Bank (Physical)

Milford Federal Bank

Avg. Principal: $1,250
Avg. APR: 3%
Avg. Length: 18 months

Best from Credit Union

Pioneer Valley Credit Union

Avg. Principal: $1,250
Avg. APR: 6.95%
Avg. Length: 24 months

Best from Digital Lender


Avg. Principal: $1,250
Avg. APR: 10.5%
Avg. Length: 12 months

Best Massachusetts-Only Credit Builder Loans

Best Multi-State Credit Builder Loans Available in Massachusetts

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