The Best Mortgage Lenders in Burnham, PA
Compare verified mortgage lenders serving Burnham, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burnham
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly regarded national mortgage lender with a strong track record of customer satisfaction and competitive rates. Founded in 2000, it has built a reputation for its user-friendly digital platform, efficient processing, and wide array of loan options. Serving Burnham and central Pennsylvania, the company is known for its transparency, low fees, and excellent support, with many reviews praising its responsiveness and expertise in handling various mortgage needs.
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New American Funding
New American Funding, LLC
New American Funding is a top-rated mortgage lender recognized for its commitment to diversity, competitive rates, and personalized service. Established in 2003, it has grown to serve clients across Pennsylvania, including Burnham, with a focus on first-time homebuyers and underserved communities. The company excels in providing flexible loan solutions, fast approvals, and exceptional customer care, as reflected in numerous positive reviews highlighting its knowledgeable staff and smooth closing processes.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly rated lender known for its community-focused approach, competitive rates, and swift service. Founded in 2008, it has a strong presence in Pennsylvania, serving areas like Burnham with a variety of loan products and a dedication to local engagement. The company stands out for its efficient underwriting, transparent communication, and high customer satisfaction, with many reviews commending its hassle-free experiences and supportive loan officers.
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Frequently Asked Questions
Common questions about mortgage lending in Burnham, PA
Are there any special mortgage programs for first-time homebuyers in Burnham, PA?
Yes, Pennsylvania offers the Keystone Home Loan Program through the Pennsylvania Housing Finance Agency (PHFA), which is accessible to Burnham residents. This program provides competitive fixed-rate mortgages, down payment and closing cost assistance, and is particularly beneficial for buyers in Mifflin County's more affordable market. Local lenders like Kish Bank are approved PHFA lenders and can guide you through the application process.
How does Burnham's location in Mifflin County affect property taxes and mortgage escrow?
Mifflin County has a relatively low property tax rate compared to Pennsylvania's urban centers, which can positively impact your total monthly mortgage payment. When setting up your escrow account, lenders will use the county's current millage rate (combined county, borough, and school district taxes) to estimate your annual tax obligation, which is a key factor in determining your debt-to-income ratio for loan approval.
What are typical down payment requirements for homes in Burnham's market?
Given Burnham's median home prices are below the state average, many buyers successfully use conventional loans with 3-5% down or FHA loans with 3.5% down. For the area's more modestly priced homes, even a 20% down payment to avoid PMI can be a more attainable goal here than in many other parts of Pennsylvania, making homeownership more accessible.
Are USDA rural housing loans available for properties in or near Burnham, PA?
Absolutely. Burnham and much of Mifflin County are designated as eligible for USDA Rural Development Guaranteed Housing Loans. This is a significant advantage, as this program offers 100% financing (no down payment) for qualified buyers and properties that meet location and income requirements, making it a popular choice for the area.
How do local employment sectors, like manufacturing and healthcare, influence mortgage approval in Burnham?
Lenders are familiar with the stable employment provided by major local employers like Empire Kosher and UPMC. Consistent employment history in these sectors is viewed favorably. For hourly or shift workers, lenders may require a two-year history in the same field to average income, which is important for many Burnham residents working in these industries.
Why Choose a Mortgage Lender in Burnham?
Local Market Knowledge
Lenders who understand Burnham'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 Burnham and get competitive rates on your home loan.