The Best Mortgage Lenders in Saint Marys, PA
Compare verified mortgage lenders serving Saint Marys, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Saint Marys
Featured Mortgage Lenders
Northwest Bank Mortgage Department
Northwest Bank
Northwest Bank has been serving Saint Marys and surrounding communities for over a century, making them one of the most established and trusted local mortgage lenders in the area. As a community-focused bank with a physical branch in Saint Marys, they offer personalized service and deep understanding of the local real estate market. Their mortgage team provides competitive rates and various loan programs including first-time homebuyer options. Customers consistently praise their responsive service, local decision-making, and smooth closing processes.
Loan Types:
First United National Bank Mortgage Team
First United National Bank
First United National Bank, while headquartered in Clearfield, has a strong presence throughout the Saint Marys region and is highly regarded for their mortgage lending services. They maintain an excellent reputation for competitive rates and exceptional customer service, with many Saint Marys residents choosing them for their home financing needs. The bank offers a comprehensive range of mortgage products and is particularly noted for their first-time homebuyer programs and construction loans. Their local loan officers provide personalized guidance throughout the entire mortgage process.
Loan Types:
Rocket Mortgage
Rocket Mortgage by Quicken Loans
Rocket Mortgage (formerly Quicken Loans) is the nation's largest mortgage lender and serves Saint Marys, Pennsylvania with their highly efficient digital mortgage platform. They consistently receive top ratings for their streamlined application process, competitive rates, and excellent customer service. While operating primarily online, they have dedicated mortgage experts who understand Pennsylvania's specific lending requirements. Their fully digital platform allows for quick pre-approvals and efficient processing, making them a popular choice for Saint Marys residents seeking convenience without sacrificing service quality.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Saint Marys, PA
Are there any local first-time homebuyer programs or grants specifically for Saint Marys, PA?
Yes, the Pennsylvania Housing Finance Agency (PHFA) offers statewide programs like Keystone Home Loan and Keystone Government Loan, which are accessible to Saint Marys residents. Additionally, Elk County Community Development may occasionally offer local down payment assistance or rehabilitation grants, so it's wise to check with them directly. These programs can be especially helpful given the area's median income levels.
How does the local economy, particularly the manufacturing sector, impact mortgage approval in Saint Marys?
Lenders are very familiar with the stable, albeit specialized, employment from major local employers like Stackpole International and Metal Powder Products. Consistent employment history in these sectors is viewed favorably. However, if your income includes significant overtime or bonuses, be prepared to provide a two-year history for underwriting, as lenders will want to see its reliability.
What are typical property taxes in Saint Marys, and how do they affect my mortgage qualification?
Property taxes in Saint Marys and Elk County are generally moderate compared to statewide averages, often ranging from 1.5% to 2% of assessed value. Lenders will calculate your debt-to-income ratio including this tax escrow, which can be a significant part of your monthly payment. It's crucial to get an accurate estimate early in your home search to ensure you qualify for your target loan amount.
Are USDA Rural Development loans available for homes in Saint Marys, PA?
Yes, most of Elk County, including the areas surrounding Saint Marys, is eligible for USDA Rural Development loans, which offer 100% financing. The town itself may have some eligible census tracts, but properties just outside the borough limits are almost certainly eligible. This is a popular and advantageous program for buyers in this region looking to minimize their down payment.
How do appraisals account for the mix of historic and newer homes in Saint Marys?
Appraisers in Saint Marys must be skilled in valuing a diverse housing stock, from well-maintained early 20th-century homes in the borough to newer constructions in developments like The Highlands. They heavily rely on recent sales of comparable properties ("comps") within a tight geographic radius due to unique neighborhood characteristics. An experienced local appraiser is key to an accurate valuation.
Nearby Cities
Explore mortgage lenders in cities near Saint Marys, PA
Why Choose a Mortgage Lender in Saint Marys?
Local Market Knowledge
Lenders who understand Saint Marys'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 Saint Marys and get competitive rates on your home loan.