Pennsylvania Mortgage Rates

July 2, 2015 08:32 AM Eastern

Refinance rates now in PHILADELPHIA, PA [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

FHA 30 Year Fixed Rates as low as

Interest Rate
3.250%
APR
4.233%
Monthly Payment
$1,005
Consumer Direct Mortgage, a division of FirstBank
Interest Rate
3.250%
APR
4.233%
Monthly Payment
$1,005
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $871
Estimated Mortgage Insurance Payments $134
Total Monthly Mortgage Payment $1,005
Lender Fees $6,500
Lender Credit $0
Total Closing Fees* $6,500
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews
Smarter Mortgages
Be the first to write a review.
NMLS: 104234
Interest Rate
3.625%
APR
3.789%
Monthly Payment
$912
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 45 Days
Down Payment $50,000
Principal and Interest Payments $912
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $912
Lender Fees $4,000
Lender Credit $1,000
Total Closing Fees* $3,000
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
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Lender Reviews

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15YearFixed Rates as low as

Interest Rate
2.625%
APR
2.959%
Monthly Payment
$1,345
Smarter Mortgages
Be the first to write a review.
NMLS: 104234
Interest Rate
2.625%
APR
2.959%
Monthly Payment
$1,345
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 45 Days
Down Payment $50,000
Principal and Interest Payments $1,345
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,345
Lender Fees $4,625
Lender Credit $250
Total Closing Fees* $4,375
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
Email Lender Write a Review

Lender Reviews

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Consumer Direct Mortgage, a division of FirstBank
Interest Rate
2.875%
APR
3.092%
Monthly Payment
$1,370
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,370
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,370
Lender Fees $3,000
Lender Credit $0
Total Closing Fees* $3,000
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews
Avex Funding Corporation
Be the first to write a review.
NMLS: 330511
Interest Rate
2.875%
APR
3.001%
Monthly Payment
$1,369
(844) 904-7375 Contact
Avex Funding Corporation
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,369
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,369
Lender Fees $1,744
Lender Credit $286
Total Closing Fees* $1,458
*Other 3rd party fees may apply
Avex Funding Corporation
Email Lender

About the Lender

AVEX Funding is a mortgage bank and direct lender with three generations of experience in the mortgage lending industry. We are simplifying the mortgage process for millions of Americans—your entire application will be handled under one roof. We offer loans with zero upfront points and low closing costs, as well as options to buy down your interest rate. So whether you’re looking to minimize your down payment or lower your monthly payments, we can work with you to achieve your dreams or help minimize the financial burden of your mortgage. At Avex, customer service is priority number one. We value your time and recognize that getting a mortgage or refinancing feels overwhelming. Avex aims to meet you at your most convenient point of communication- so start an application today! We need just a few minutes to understand your mortgage and refinancing needs and our home loan experts would be thrilled to assist you right away.
Avex Funding Corporation
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Lender Reviews

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5YearARM Rates as low as

Interest Rate
2.375%
APR
2.908%
Monthly Payment
$777
Smarter Mortgages
Be the first to write a review.
NMLS: 104234
Interest Rate
2.375%
APR
2.908%
Monthly Payment
$777
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 45 Days
Down Payment $50,000
Principal and Interest Payments $777
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $777
Lender Fees $2,625
Lender Credit $250
Total Closing Fees* $2,375
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
Email Lender Write a Review

Lender Reviews

Be the first to write a review. See All Reviews
Sebonic Financial
Interest Rate
2.750%
APR
3.034%
Monthly Payment
$817
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $817
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $817
Lender Fees $2,278
Lender Credit $0
Total Closing Fees* $2,278
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
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Lender Reviews

FHA Streamline

I initiated a loan with Cardinal/Sebonic in March, 3 months ago. To summarize, I am not at all pleased and feel this company is incredibly slow and at times borderline incompetent. I disclosed a potential credit issue to the loan officer up front and asked that she verify with an underwriter before we proceeded with charging for the appraisal. She checked with a supervisor and was assured there should not be a problem. We then proceeded with the appraisal and on to underwriting. The underwriter would not approve the loan based on the same credit issue that was said to have not been a problem. We then discussed the possibility of doing a non-credit qualifying streamline, however the loan officer stated the FHA seasoning period would be an additional couple of months. I reviewed FHA’s requirements and disagreed, insisting that the loan could proceed and my situation has already met FHA’s seasoning requirements. I elevated the issue to a supervisor who overruled my loan officer’s determination and the loan was allowed to proceed – my takeaway from this is that their loan officers are not well-versed in the products they are selling. My new streamline has been in and out of underwriting at least 3 times that I am aware of – each time the underwriter seems to find a new issue to nitpick – something wasn’t done correctly on the appraisal that they had already reviewed and approved several times prior, a new form needed to be signed, the disclosures were done improperly and instead of not having to bring any money to closing I would need to bring several thousand dollars. In addition, at the beginning of the streamline I was assured that since the underwriter was already familiar with my file we should be able to close in a few weeks – it is now 6 weeks later. My prior loan processor went incognito for several days and only until I again elevated to a supervisor, was my loan re-assigned to someone else. I feel as if I must continuously nag and prompt them to move the loan forward. Due to their consistent lack of meeting deadlines I am now concerned that the loan will not fund before my June payment is due or before my second rate lock expires. It’s no wonder the only way this company can stay in business is that they have the lowest rates. If it weren’t for that single fact, I would have moved on long ago. I they actually close the loan before the end of the month I will elevate my rating, but until then they are a 1-star.

By: Refinance (Shoreline, WA)

New House for a Army Veteran

Yes, I recommend this lender

To Everyone, I want to start off by saying this was my first time buying a house. Due to some disabilities from being in the Army, I never thought I would be able to buy a house. After seeing how low interest rates were with Sebonic/ Cardinal Financial I figured what do I have to lose in trying. With that said, I was informed my 660 score would be enough to qualify me and even if it had dropped to 620, there would be no problem. I was pre qualified for 200k and even a little more if needed. Courtney Burns answered all questions in a very professional response. Now what makes this very exciting for me is the fact that I'm 100% Disabled with VA and not being able to work. This was also due to almost no debt. My agent called and had other questions about how it could really be possible to give such great rates and have no processing fees. Even after call to verify I was continually told that Sebonic by my agent that this was too good to be true and that this was her first time working with an internet finance company and had only worked with local lenders in Asheville NC. (What is kind of funny is the one lender my real estate broker recommended to me pretty much hung up on me when I asked if they would like to match what was given by Sebonic was proposing.) The one thing I would like to mention is that Sebonic does require you to be pro active if you really want to be informed through out the total process. I know there were times Sebonic/ Cardinal wished I would stop calling for updates however; they did comply when asked and there were times I can recall for both Cortney Burns and Wes Putman responded on emails after hours. That made me feel important. Kind of made me feel a little sorry for Wes Putman my final Loan Processor when I saw he was responding around 11pm on a Saturday for one of my questions. There were times I was stressed during the process but who wouldn't for such a big purchase. My agent says she is not going to use them again due to her being left out of the loop and didn't know what was going on. The funny thing is that when we started working with Sebonic, we had both read how there was a big issue with communication on many reviews. We talked about it and the both of us decided that saving between 2k and 3k for processing fees others would charge made it hard not to go with it. We accepted it was worth the pain in making sure we were on target. The part I think my agent forgot is that if she wanted information or had a question she needed to email or call Sebonic. Sebonic didn't really CC her with all the steps going on. They only sent it to me since I was the only one with the information needed. In the end, I was giving updates to my agent on when the close was going to happen. The agent was always playing catchup ........I think it was partly their fault too in that. Lastly, I ended up with a 200k loan at 3.25% rate for 30 year fixed. I know it's going to be one of the best rates I could have ever got. You should know that with that rate, I did not have to pay one penny out of pocket to close on this house. The Seller paid 3% of close or up to 6k. ( VA home buyer please be aware that sellers can pay upto 4% on a VA loan). Well guess what??? It covered all of my inspections...Everything and I mean Everything! Knowing the real cost that could have been out of pocket for me even with a VA loan would have been around 5k. This was a home run for me and to think It's Memorial Day Weekend. What a great weekend to be sitting on my deck cooking out and drinking a beer. Cheers to everyone involved in allowing me to experience owning my first home. Sincerely, Thomas Army Veteran

By: Thomas (Asheville NC)

Wasting my time and MONEY

Talked me into my credit card info without all paperwork. Assured me that Remodeling was not a problem! They charged my credit card for appraisal. then stopped appraisal because of remodeling? Trying to get appraisal money back! Getting a lot of run around and delay? Cannot get supervisor contact info???

By: VERYverydisgruntled (Very dis gruntled)
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Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

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Pennsylvania Mortgage Rates and Assistance for Homebuyers
Pennsylvania was one of the original 13 colonies of the United States of America; it’s understandably been a popular destination for potential homeowners for over 200 years. If you’re looking to buy in Pennsylvania, you'll have your choice between historic brick homes and large country estates, and everything in between.

Current Pennsylvania mortgage rates depend on the economic climate and your qualifying financial criteria, but with proper research and the right resources, you can find a good deal on new financing. Here are the details on a variety of different programs that serve people who want to live in Pennsylvania and are looking for low PA mortgage interest rates.

Current PA Mortgage Rates and the REAL Program
If it's been a while since you purchased your home, PA mortgage interest rates may have changed. Homeowners who are having financial difficulty keeping up with their payments can benefit from refinancing at lower rates. The Refinance to an Affordable Loan Program (REAL) provides PA residents with a 30-year, fixed-rate loan. This program offers loans that feature flexible credit underwriting and keep homeowners from experiencing foreclosure. In order to qualify, participants must meet certain income requirements and be less than 59 days delinquent on their current mortgage.

Keystone Home Loan Program: Low Pennsylvania Mortgage Interest Rates
Pennsylvania is called the Keystone State, lending its name to this mortgage loan program. The Keystone Home Loan Program is available to first time homebuyers in Non-Target areas, or any home buyers purchasing a home in Target areas.  It is also available to those in the military.

The Keystone Home Loan Program includes FHA (Federal Housing Administration), VA (Veterans Affairs) and RHS (Rural Housing Service) loans. The 30-year, fixed-rate loans obtained through this program offer lower interest than current PA mortgage interest rates.

HOMEstead Down Payment Assistance with PA Mortgage Interest Rates
Many Pennsylvania homebuyers need help with their down payment and closing costs, regardless of their PA mortgage rates. For people experiencing this difficulty, the HOMEstead Down Payment and Closing Cost Assistance Loan helps them become homeowners.

This program is designed to help people by allowing them to make a down payment of 3 percent of the cost of the home, or just $1,000 for those with a credit score of 660 or higher. If the lender requires a higher down payment, the HOMEstead program covers the difference, including all closing costs.

Obtaining Low-Interest Pennsylvania Mortgage Rate Programs
Any of these programs can be accessed by working with the Pennsylvania Housing Finance Authority (PHFA). This official department of the government of Pennsylvania government can help connect home buyers and home owners with programs that will help them get the best rates.

In addition to loan programs, the PHFA has credit counseling and homebuyer education programs. These programs are available through the Comprehensive Housing Counseling Initiative.