The Best Mortgage Lenders in Cresco, PA
Compare verified mortgage lenders serving Cresco, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cresco
Featured Mortgage Lenders
Poconos Community Bank
Poconos Community Bank
Poconos Community Bank is a highly-rated local institution that has been serving the Cresco and broader Pocono Mountains region for over two decades. They consistently receive excellent reviews for their personalized service, competitive rates, and deep understanding of the local real estate market. As a community bank, they offer the advantage of local decision-making and relationship-based lending, with mortgage specialists who have extensive experience with the unique property types and market conditions in the Cresco area.
Loan Types:
Allied Mortgage
Allied Mortgage Group
Allied Mortgage Group is a well-established regional mortgage lender with strong presence throughout Eastern Pennsylvania, including service to Cresco and the Pocono region. They have built an exceptional reputation for their competitive rates, transparent process, and dedicated customer service. With nearly three decades of experience, their loan officers are particularly skilled at guiding borrowers through complex mortgage scenarios and providing educational resources for first-time homebuyers in the Cresco market.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage maintains a strong local presence in the Pocono Mountains with a Stroudsburg office that actively serves the Cresco community. They combine the resources of a national lender with local expertise, offering a comprehensive range of mortgage products and particularly excelling in customer service and communication throughout the loan process. Their local loan officers have extensive knowledge of the Cresco area real estate market and are known for their responsiveness and ability to close loans efficiently.
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Frequently Asked Questions
Common questions about mortgage lending in Cresco, PA
Are there any special mortgage programs for first-time homebuyers in Cresco, PA?
Yes, Pennsylvania offers the Keystone Home Loan Program through the Pennsylvania Housing Finance Agency (PHFA), which is accessible to buyers in Cresco. This program provides competitive fixed-rate mortgages, down payment and closing cost assistance, and is particularly beneficial for buyers in Pennsylvania's more rural counties like Monroe, where Cresco is located. Local lenders are well-versed in these programs and can guide you through the application.
How do property taxes in Monroe County affect my mortgage payments in Cresco?
Monroe County property taxes are a significant component of your monthly mortgage escrow payment. While Cresco itself is within the Pleasant Valley School District, tax rates can vary, and it's crucial to get an accurate estimate during the home search. Your lender will calculate these into your Debt-to-Income ratio, and the generally moderate tax rates in this area compared to other parts of Pennsylvania can make homeownership more affordable.
What are typical mortgage rates and lender options for a home in Cresco?
While national trends influence rates, Cresco borrowers typically work with local community banks, credit unions, or regional lenders familiar with the Pocono Mountains market. Rates are competitive, but for this more rural area, it's especially important to compare lenders on both rate and familiarity with local property types, like older homes or homes on well and septic systems, which can affect the appraisal and loan process.
Does buying a home with well water or a septic system in Cresco complicate the mortgage process?
It can add steps, but it's very common in Cresco. Most mortgage programs, including conventional and FHA loans, require water quality and flow tests for wells and a satisfactory septic inspection. You'll need to budget for these inspections, and any required repairs must be completed before closing. Working with a lender experienced in rural Pennsylvania properties ensures this process goes smoothly.
How does the seasonal and vacation home market in the Poconos impact mortgage lending in Cresco?
Cresco's location in the Pocono Mountains means some properties may be considered second homes or investment properties, which have different down payment and interest rate requirements than primary residences. If you're buying a primary home, clearly communicating this to your lender is key, as it affects your loan terms. The market also sees cash buyers for vacation properties, so being pre-approved is essential to compete.
Nearby Cities
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Why Choose a Mortgage Lender in Cresco?
Local Market Knowledge
Lenders who understand Cresco'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 Cresco and get competitive rates on your home loan.