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
Cheese
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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