The Best Mortgage Lenders in Millersville, PA
Compare verified mortgage lenders serving Millersville, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Millersville
Featured Mortgage Lenders
Fulton Mortgage Company
Fulton Bank, N.A.
Fulton Mortgage Company, the lending division of Fulton Bank, has been serving Millersville and Lancaster County for over 25 years with exceptional local expertise. As a community-focused lender with deep roots in Pennsylvania, they offer personalized service and competitive rates. Their mortgage advisors are known for guiding borrowers through the entire process with transparency and care, making them particularly strong for first-time homebuyers and those seeking construction loans. With numerous local branches and a reputation for reliability, they maintain one of the highest customer satisfaction ratings in the region.
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Members 1st Mortgage Services
Members 1st Federal Credit Union
Members 1st Federal Credit Union has been providing exceptional mortgage services to Millersville residents for decades through their dedicated mortgage division. As a not-for-profit financial cooperative, they often offer more competitive rates and lower fees than traditional banks. Their mortgage team provides personalized guidance throughout the entire home buying process, with particular expertise in VA loans and first-time homebuyer programs. With a strong digital platform and local service centers throughout central Pennsylvania, they combine modern convenience with community-focused service that consistently earns high customer satisfaction ratings.
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New American Funding
New American Funding
New American Funding has established a strong presence in the Millersville market with their innovative lending solutions and exceptional customer service. They are particularly recognized for their diverse loan portfolio and commitment to serving all types of borrowers, including those with non-traditional credit profiles. Their local loan officers provide personalized service with the backing of a national lender's resources and technology. They are known for competitive rates, fast closing times, and their special "New American Dream" program that helps make homeownership more accessible. Their high review count and consistent ratings reflect their reliability and customer-focused approach.
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Frequently Asked Questions
Common questions about mortgage lending in Millersville, PA
What first-time homebuyer programs are specifically available in Millersville, PA?
Millersville homebuyers can access Pennsylvania's statewide PHFA (Pennsylvania Housing Finance Agency) programs, which offer down payment and closing cost assistance, as well as competitive fixed-rate mortgages. Additionally, Lancaster County's HOME Consortium may offer additional grants or loans for income-eligible buyers purchasing within the county, including Millersville. It's wise to work with a local lender familiar with these layered programs.
How do Millersville's property taxes impact my mortgage affordability?
Lancaster County, where Millersville is located, has property tax rates that vary by school district. The Penn Manor School District millage rate is a key factor. While rates are generally moderate for Pennsylvania, you must budget for this significant escrow cost. Your lender will use the specific property's assessed value and the current millage rate to calculate your precise monthly escrow payment.
Are there specific mortgage considerations for buying a historic home in Millersville's older neighborhoods?
Yes, purchasing a historic home in areas near Millersville University or the borough's core may require special attention. Lenders might order a more detailed appraisal and could have stricter requirements for homes with outdated electrical, plumbing, or roofing. You may also want to explore renovation loans like the FHA 203(k) if updates are needed, which are well-suited for Pennsylvania's older housing stock.
What is the typical down payment needed for a conventional loan on a home in Millersville's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many local buyers successfully purchase with 5%, 10%, or 15% down, especially with competitive offers. Given Millersville's mix of single-family homes and more affordable townhomes, down payment requirements can be flexible. Your specific credit profile and debt-to-income ratio will be significant factors a local lender will evaluate.
Does Millersville's proximity to Millersville University create unique mortgage or lending scenarios?
It can. If you're considering buying a multi-unit property (2-4 units) as an owner-occupant to rent to students, you may qualify for a residential mortgage with favorable terms, using the potential rental income to help qualify. Conversely, lenders may scrutinize appraisals for single-family homes very close to campus due to the high concentration of student rentals, which can affect comparable sales.
Nearby Cities
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Why Choose a Mortgage Lender in Millersville?
Local Market Knowledge
Lenders who understand Millersville'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 Millersville and get competitive rates on your home loan.