The Best Mortgage Lenders in Drumore, PA
Compare verified mortgage lenders serving Drumore, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Drumore
Featured Mortgage Lenders
Members 1st Federal Credit Union
Members 1st Federal Credit Union
Members 1st Federal Credit Union is one of Pennsylvania's largest and most highly-rated credit unions, serving Lancaster County and the Drumore area with exceptional mortgage services. With over 70 years of operation, they offer personalized service and competitive rates through their extensive branch network. Their mortgage team provides comprehensive guidance through the entire home financing process, specializing in first-time homebuyer programs and various loan options tailored to rural Pennsylvania communities.
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Oak Mortgage Group
Oak Mortgage Group
Oak Mortgage Group is a highly-regarded local mortgage broker serving Lancaster County and surrounding rural areas including Drumore. They consistently receive outstanding reviews for their exceptional customer service, competitive rates, and expert guidance through complex mortgage scenarios. Specializing in rural property financing and USDA loans, they have deep expertise in Pennsylvania's unique housing markets and provide personalized attention throughout the lending process.
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Fulton Bank
Fulton Bank, N.A.
Fulton Bank is a well-established regional financial institution with deep roots in Pennsylvania, serving Drumore and Lancaster County with comprehensive mortgage services. With over 140 years of operation, they offer stability and local decision-making combined with competitive mortgage products. Their experienced loan officers provide personalized service for both purchase and refinance transactions, with particular strength in conventional lending and construction loans for rural properties.
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Frequently Asked Questions
Common questions about mortgage lending in Drumore, PA
What types of properties are most common for mortgages in Drumore, PA, and does this affect loan options?
Drumore is primarily a rural township in Lancaster County with many single-family homes, older farmhouses, and properties on larger lots. This means lenders are familiar with appraising unique or older properties, and USDA Rural Development loans are a popular and relevant option for eligible buyers due to the area's rural designation, offering 100% financing.
Are there any special first-time homebuyer programs or grants available specifically for Drumore, PA?
While Drumore itself does not have a municipal program, as part of Lancaster County, buyers can access the Lancaster County Housing and Redevelopment Authorities' programs, such as the HOMEstead down payment and closing cost assistance grant. Eligibility is based on income and the purchase price of the home within the county.
How do property taxes in Drumore Township impact the mortgage qualification process?
Drumore Township has a relatively low municipal tax rate, but Lancaster County property taxes are a significant factor. Lenders will calculate your total monthly payment including these taxes, which can affect your debt-to-income ratio. It's crucial to get an accurate tax estimate for a specific property, as assessments can vary, especially on larger parcels.
For a home with acreage or agricultural use in Drumore, are there different mortgage requirements?
Yes, financing a property with significant acreage (typically over 10 acres) or potential income-producing features requires careful lender selection. Many conventional lenders have acreage limits. You may need to work with a local lender or agricultural credit union familiar with Lancaster County who can properly classify the property as residential rather than a farm, which has different loan criteria.
How does Drumore's location in Lancaster County influence mortgage rates and lender choice?
Drumore benefits from being in a strong and stable Lancaster County housing market, which is attractive to lenders. You'll have access to both local Pennsylvania-based banks/credit unions and national lenders. Shopping around is key, as local lenders often have deeper knowledge of property values in the township and may offer competitive rates or specialized products for the area.
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Why Choose a Mortgage Lender in Drumore?
Local Market Knowledge
Lenders who understand Drumore'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 Drumore and get competitive rates on your home loan.