The Best Mortgage Lenders in Erie, PA
Compare verified mortgage lenders serving Erie, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Erie
Featured Mortgage Lenders
Marquette Savings Bank Mortgage Team
Marquette Savings Bank
Marquette Savings Bank stands as Erie's premier local mortgage lender with over a century of community banking experience. Their mortgage team receives exceptional ratings for personalized service, local underwriting decisions, and competitive rates. As a community-focused institution, they offer specialized knowledge of Erie County's housing market and provide face-to-face service throughout the entire mortgage process. Their long-standing reputation for reliability and customer satisfaction makes them a top choice for Erie homebuyers seeking local expertise with the stability of an established financial institution.
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Northwest Bank Mortgage Division
Northwest Bank
Northwest Bank maintains a strong regional presence in Erie with a dedicated mortgage division that earns high marks for competitive rates and efficient processing. As a established regional bank serving Pennsylvania and surrounding states, they combine local market knowledge with robust lending capabilities. Their mortgage specialists are praised for clear communication, streamlined application processes, and flexible loan options tailored to Northwestern Pennsylvania homebuyers. The bank's long history and commitment to the Erie community provide additional confidence for borrowers seeking reliable mortgage services.
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CNB Bank Mortgage Services
CNB Bank
CNB Bank brings extensive mortgage lending expertise to the Erie market with a reputation for personalized service and competitive loan products. Their local mortgage team receives strong customer satisfaction ratings for their attention to detail and commitment to finding the right financing solutions for each borrower's unique situation. Specializing in both purchase and construction loans, they offer particular strength in rural and suburban properties throughout Erie County. As a Pennsylvania-based community bank with deep roots, they provide the stability and local decision-making that Erie homebuyers value.
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Frequently Asked Questions
Common questions about mortgage lending in Erie, PA
Are there any special first-time homebuyer programs available in Erie, PA?
Yes, the Pennsylvania Housing Finance Agency (PHFA) offers the Keystone Home Loan program, which provides competitive interest rates and down payment/closing cost assistance. Erie County also has specific programs, like the HOMEstead Downpayment and Closing Cost Assistance Program, which can provide up to $10,000 in forgivable grants for eligible buyers purchasing within the City of Erie.
How does Erie's relatively affordable housing market affect mortgage lending and down payment requirements?
Erie's median home price is well below the national average, which often means buyers can qualify for conventional loans with a lower absolute dollar down payment (e.g., 3-5%). This affordability also makes it easier to avoid jumbo loans and their stricter requirements, and lenders may view the stable, low-cost market favorably during the underwriting process.
What should I know about property taxes when getting a mortgage in Erie, PA?
Property taxes in Erie County are a significant component of your monthly mortgage payment, as they are typically escrowed. Rates vary by municipality and school district, with the City of Erie having a higher millage rate than surrounding townships. Your lender will verify the exact tax amount during appraisal, as it directly impacts your debt-to-income ratio and loan qualification.
Are there specific mortgage considerations for buying a historic home in Erie's designated neighborhoods?
Yes, purchasing a home in a historic district like the West 6th Street Historic District may involve additional steps. While not always required, some lenders might recommend a more specialized inspection for older systems. Additionally, you should investigate if any local historic preservation grants or tax incentive programs are available, as these can affect your overall financing strategy.
How do seasonal weather patterns on Lake Erie influence the home appraisal and insurance process for a mortgage?
Appraisers in the Erie area will note the property's proximity to the lake and check for signs of moisture intrusion, foundation issues, or weather-related wear. Furthermore, mortgage lenders will require you to secure homeowners insurance, which may include specific riders or have slightly higher premiums for wind or water damage, especially for homes close to the shoreline.
Why Choose a Mortgage Lender in Erie?
Local Market Knowledge
Lenders who understand Erie'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 Erie and get competitive rates on your home loan.