The Best Mortgage Lenders in Clarks Summit, PA
Compare verified mortgage lenders serving Clarks Summit, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Clarks Summit
Featured Mortgage Lenders
First National Community Bank
FNCB Bank
FNCB Bank is the premier local banking institution serving Clarks Summit and Northeastern Pennsylvania with over a century of community banking experience. As a locally headquartered bank with deep roots in the area, they offer personalized mortgage services with competitive rates and local underwriting decisions. Their mortgage team provides comprehensive guidance through the entire home financing process, from pre-approval to closing, with a strong emphasis on customer service and community relationships. Their long-standing presence and extensive knowledge of the local real estate market make them a top choice for Clarks Summit homebuyers.
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Allied Mortgage
Allied Mortgage
Allied Mortgage has been serving the Scranton/Wilkes-Barre metropolitan area including Clarks Summit for over two decades with exceptional mortgage services. They are highly rated for their competitive rates, transparent process, and personalized approach to each client's unique financial situation. The company specializes in first-time homebuyer programs and offers a wide range of loan products with local processing and underwriting. Their team of experienced mortgage professionals provides comprehensive guidance through the entire home financing journey, earning them consistently excellent reviews from Northeast Pennsylvania homebuyers.
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Penn East Federal Credit Union
Penn East Federal Credit Union
Penn East Federal Credit Union is a member-owned financial institution with a strong presence in Clarks Summit and throughout Northeastern Pennsylvania. They offer competitive mortgage rates and personalized service with a focus on member satisfaction rather than profit maximization. Their mortgage specialists provide comprehensive guidance through the entire home financing process, including first-time homebuyer programs and specialized construction loans. With local decision-making and deep community involvement, Penn East FCU has built a reputation for reliable, customer-focused mortgage lending in the Clarks Summit area for decades.
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Frequently Asked Questions
Common questions about mortgage lending in Clarks Summit, PA
Are there any first-time homebuyer assistance programs specific to Clarks Summit or Lackawanna County?
Yes, the Pennsylvania Housing Finance Agency (PHFA) offers statewide programs like Keystone Home Loan and Keystone Government Loan, which are accessible to Clarks Summit buyers. Additionally, the Lackawanna County Office of Economic and Community Development may offer down payment and closing cost assistance grants for eligible buyers purchasing within the county, including Clarks Summit. Consulting with a local lender familiar with these programs is key.
How do property taxes in Clarks Summit impact my mortgage affordability?
Clarks Summit, located in Lackawanna County, has property tax rates that are a significant factor in your total monthly payment. The combined borough, county, and school district taxes are generally moderate for Pennsylvania. Your lender will calculate these into your debt-to-income ratio, and it's wise to budget for potential annual increases, as school taxes can be a point of local budgetary discussion.
What is the typical down payment needed for a home in Clarks Summit's competitive market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Clarks Summit successfully purchase with 3-5% down using conventional loans or 3.5% down with an FHA loan. Given the desirable nature of the Abington Heights School District, a competitive offer often includes a strong down payment, but local lenders can help you explore low-down-payment options to stay competitive.
Are USDA rural development loans available for homes in Clarks Summit, PA?
Most of Clarks Summit itself is not eligible for USDA loans, as it is classified as a suburban area. However, some surrounding townships in the 18411 zip code may have eligible pockets. For a true USDA loan, you would likely need to look at properties just outside the borough limits. A local mortgage officer can quickly determine a specific property's eligibility.
How does the appraisal process work for Clarks Summit's mix of historic and newer homes?
Clarks Summit features a range of housing from historic homes in the borough center to newer developments. Appraisers must find comparable sales ("comps") from within a limited geographic area due to varying values between neighborhoods and home styles. Unique or historic properties may require an appraiser with specific experience, which your lender will coordinate to ensure an accurate valuation.
Why Choose a Mortgage Lender in Clarks Summit?
Local Market Knowledge
Lenders who understand Clarks Summit'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 Clarks Summit and get competitive rates on your home loan.