Everyone should be aware that finding the right mortgage and rate in Pennsylvania can save thousands of dollars. Mortgage-Info.us was created with that goal in mind. If you are looking for Lenders, Mortgage Rates, or Mortgage Brokers – we’ve got it. When you fill out our mortgage quote form, you’ll get offers from 2-4 different lenders, so they’ll be competing for your loan, saving you money.
Featured Mortgage Lenders in Pennsylvania
Pennsylvania Mortgage Quick Facts
Pennsylvania State Population: 12,281,054*
Median Pennsylvania Home Price: $97,000*
Total Pennsylvania Housing Units: 5,328,251*
House Ownership Rate in Pennsylvania: 71.3%*
Types of Mortgage Loans Available in Pennsylvania
- Interest Only
- Adjustable Rate (ARM) loans
- Refinance Mortgage Loans
- Home Equity Loans
- Second Mortgage Loans
- Cash Out Mortgages
- Fixed Rate Mortgage Loan
- LIBOR Mortgage Loan
- Special Mortgage Loans
- Reverse Mortgage
- Home Equity Line of Credit (HELOC) Loan
How Your Credit Score Affects Your Mortgage Rate
To start with, you’ll need to know what our current credit score is . You should compare that against the average Pennsylvania consumer credit score which is 694. And the national average credit score is 677. Your credit score impacts what your home mortgage rate will be. Historically home mortgage rates have varied from 5% to over 13%. Lenders create their home mortgage rates by using the Federal Discount Interest Rate and then increase it by using an internal formula to create their own home mortgage rate. When you apply for a home mortgage, your home mortgage rate will be determined by a whole host of factors, but your credit score is always important factors.
Pennsylvania Mortgage State Laws:
Pennsylvania practices judicial foreclosure. Mortgage lenders must send notice letters before issuing a foreclosure referral. The Sheriff serves the complaint. The defendant has twenty days to respond to the complaint. If the defendant does not respond to the complaint, a ten-day notice is filed. If the defendant does not respond to the ten-day notice, foreclosure proceedings begin. The property is sold at a sheriff’s auction. Both the mortgagor and the community are made aware of the date of the auction. The occupants are given twenty days to move after the sale date.
As of February 1999, there were two new categories of licenses in Pennsylvania. A loan correspondent creates and closes loans in his/her own name. He/she derives funds from a wholesale table funder. A limited mortgage broker is a small-scale mortgage broker. He/she can only make nonpurchase money mortgage loans.
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Phone: (617) 223-6477
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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.