The Best Mortgage Lenders in Bensalem, PA
Compare verified mortgage lenders serving Bensalem, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bensalem
Featured Mortgage Lenders
Trident Mortgage
Trident Mortgage Company
Trident Mortgage has established itself as one of the top-rated mortgage lenders in the Greater Philadelphia area, including Bensalem. With over two decades of experience, they offer personalized service and competitive rates across a comprehensive range of loan products. Their high customer satisfaction ratings stem from their local expertise, streamlined application process, and commitment to guiding borrowers through every step of the mortgage journey. As a locally-focused lender with strong regional presence, they understand the specific dynamics of the Bucks County housing market.
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Firstrust Bank Mortgage
Firstrust Bank
Firstrust Bank has been serving the Philadelphia metropolitan area since 1934, making them one of the most established and trusted mortgage lenders in the region. While headquartered in Philadelphia, they have multiple branches throughout Bucks County and actively serve Bensalem homebuyers. Their mortgage team provides competitive rates with the personalized service of a community bank combined with the resources of a regional financial institution. Customers consistently praise their responsive communication, local decision-making, and expertise with various loan programs tailored to Pennsylvania homebuyers' needs.
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Newrez Purchase
Newrez LLC
Newrez maintains a strong presence in the Pennsylvania market with their King of Prussia office conveniently serving the Bensalem area. As a national lender with deep local roots, they offer competitive rates and a wide variety of loan products. Their experienced loan officers specialize in both purchase and refinance transactions, with particular expertise in conventional and government-backed loans. The company receives high marks for their efficient processing, digital mortgage experience, and knowledgeable staff who understand the specific requirements of Pennsylvania real estate transactions.
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Frequently Asked Questions
Common questions about mortgage lending in Bensalem, PA
Are there any first-time homebuyer assistance programs specific to Bensalem, PA?
Yes, Bensalem homebuyers can access the Bucks County HOME Consortium's programs, which offer down payment and closing cost assistance. These grants can provide up to $10,000 in assistance for eligible first-time buyers purchasing within the county, including Bensalem. It's crucial to work with a lender familiar with these local programs to navigate the application process.
How do property taxes in Bensalem Township impact my mortgage affordability?
Bensalem has a combined property tax rate that includes township, county, and school district levies, which is a significant factor in your monthly payment. For 2024, the total millage rate is approximately 327.5 mills, which translates to about $3,275 per $100,000 of assessed value. Your lender will calculate these taxes into your debt-to-income ratio, so it's important to budget for this higher-than-average tax burden when determining how much house you can afford.
What types of properties in Bensalem might require specialized mortgage products?
Given Bensalem's mix of older row homes, newer subdivisions, and properties near the Delaware River, certain homes may need specific loans. For example, purchasing a home in a FEMA-designated flood zone (like parts of the riverfront) will require separate flood insurance, affecting your monthly costs. Additionally, condos in developments like the Village of Flowers Mill must be in FHA-approved projects to qualify for certain government-backed loans.
How does Bensalem's proximity to Philadelphia and New Jersey influence mortgage lending considerations?
Bensalem's location in the Philadelphia metro area means many lenders are familiar with the local market and its steady demand. However, if you work in New Jersey or Philadelphia, some lenders may scrutinize a long-distance commute as part of your employment stability. Furthermore, appraisals must reflect values supported by comparable sales within Bensalem's specific market, which can differ from neighboring Philadelphia or Bucks County suburbs.
Are there local credit unions or banks in Bensalem that offer competitive mortgage rates or special programs?
Yes, several local institutions like TruMark Financial Credit Union (headquartered in Trevose, serving Bensalem) and First Federal of Bucks County often have competitive mortgage products tailored to the area. These local lenders may offer special relationship discounts, have deeper knowledge of Bensalem's neighborhoods, and may process loans more efficiently due to their local underwriting and appraisal networks.
Why Choose a Mortgage Lender in Bensalem?
Local Market Knowledge
Lenders who understand Bensalem's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Pennsylvania.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Bensalem and get competitive rates on your home loan.