The Best Mortgage Lenders in Chambersburg, PA
Compare verified mortgage lenders serving Chambersburg, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chambersburg
Featured Mortgage Lenders
F&M Trust Mortgage Department
Farmers and Merchants Trust Company
F&M Trust is the premier local community bank serving Franklin County with over a century of proven reliability. As a Chambersburg-based institution, they offer personalized mortgage services with deep local market knowledge and competitive rates. Their mortgage team provides exceptional one-on-one service throughout the entire home buying process, with quick local decision-making and strong relationships with local real estate professionals. They consistently receive outstanding customer reviews for their responsive service and community-focused approach.
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Members 1st Mortgage Services
Members 1st Federal Credit Union
Members 1st Federal Credit Union is a highly-rated regional financial institution that serves Chambersburg and throughout south-central Pennsylvania. With consistently excellent customer satisfaction ratings, they offer competitive mortgage rates and exceptional member service. Their mortgage specialists provide personalized guidance through every step of the home financing process, and they're particularly praised for their first-time homebuyer programs and educational resources. The credit union's not-for-profit structure often results in lower fees and better terms for borrowers.
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NOVA Home Loans
NOVA Home Loans
NOVA Home Loans is a nationally recognized mortgage lender with a strong local presence serving the Chambersburg area. They maintain exceptional 4.9-star ratings across multiple review platforms for their outstanding customer service and efficient loan processing. Specializing in making the mortgage process simple and transparent, they offer competitive rates and a wide variety of loan programs. Their local loan officers have extensive knowledge of the Franklin County market and are praised for their responsiveness and expertise in guiding borrowers through complex financing situations.
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Frequently Asked Questions
Common questions about mortgage lending in Chambersburg, PA
Are there any special first-time homebuyer programs available specifically in Chambersburg, PA?
Yes, the Pennsylvania Housing Finance Agency (PHFA) offers statewide programs like Keystone Home Loan and Keystone Government Loan, which are widely used in Chambersburg. Additionally, Franklin County may have local down payment and closing cost assistance programs for first-time buyers. It's best to consult with a local mortgage lender who is well-versed in these specific offerings.
How do property tax rates in Franklin County affect my mortgage payments in Chambersburg?
Franklin County's property tax rates are a significant component of your monthly escrow payment. The current total millage rate for Chambersburg Borough is approximately 30-35 mills, which translates to a relatively moderate tax burden compared to other parts of Pennsylvania. Your lender will calculate this into your monthly payment, so it's wise to budget for this local expense when determining affordability.
What is the typical down payment needed for a home in Chambersburg's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Chambersburg successfully purchase homes with down payments as low as 3% (conventional) or 3.5% (FHA). Given the area's median home price, this allows for accessible entry into the market. Local lenders can also guide you on USDA loans, which may require 0% down for eligible rural properties in the surrounding areas.
Does Chambersburg qualify for any USDA rural development home loans?
Yes, parts of Chambersburg and much of the surrounding Franklin County are eligible for USDA Section 502 Guaranteed Loans, which offer 100% financing (no down payment). The property must be located in a USDA-designated rural area; a local mortgage officer can provide a precise eligibility map to see if your desired home qualifies for this advantageous program.
How competitive is the mortgage lending environment in Chambersburg, and should I use a local bank?
Chambersburg has a competitive mix of local community banks, credit unions, and national lenders. Using a local lender can be beneficial as they have specific knowledge of the Franklin County appraisal process, title companies, and can often provide more personalized service. However, it's always recommended to compare rates and terms from a few different types of lenders to ensure you get the best deal.
Why Choose a Mortgage Lender in Chambersburg?
Local Market Knowledge
Lenders who understand Chambersburg'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 Chambersburg and get competitive rates on your home loan.