The Best Mortgage Lenders in Scotrun, PA
Compare verified mortgage lenders serving Scotrun, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Scotrun
Featured Mortgage Lenders
Christopher J. D'Amico
D'Amico Mortgage Services
D'Amico Mortgage Services is one of the most highly-rated local mortgage lenders serving the Pocono Mountains region, including Scotrun. With over two decades of experience, Christopher D'Amico and his team have built an exceptional reputation for personalized service and competitive rates. They specialize in helping buyers navigate the unique real estate market of the Poconos, offering comprehensive guidance through the entire mortgage process. Their high customer satisfaction ratings reflect their commitment to making the home financing experience smooth and transparent for each client.
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Mortgage Department
ESSA Bank & Trust
ESSA Bank & Trust has been serving the Pocono region for over a century, with a strong local presence in Stroudsburg just minutes from Scotrun. As a community-focused financial institution, they offer personalized mortgage solutions with the advantage of local decision-making. Their mortgage team has extensive experience with the specific needs of Monroe County homebuyers, including vacation properties and primary residences. Customers consistently praise their responsive service, competitive rates, and the convenience of working with a local bank that understands the area's real estate market.
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Brian Holland
Holland Mortgage Services
Holland Mortgage Services is a well-established local mortgage broker serving Scotrun and the broader Pocono Mountains area. Brian Holland and his team have built a strong reputation for providing exceptional customer service and securing competitive mortgage terms for their clients. They excel at finding the right loan products for each borrower's unique situation, whether for primary residences, second homes, or investment properties in the Scotrun area. Their extensive knowledge of local market conditions and dedication to client satisfaction make them a top choice for mortgage financing in Monroe County.
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Frequently Asked Questions
Common questions about mortgage lending in Scotrun, PA
What are the typical down payment requirements for homes in Scotrun, PA, given its location in the Poconos?
While standard loans often require 3-5% down, many homes in the Scotrun area are considered second homes or vacation properties, which typically require a minimum of 10% down. For a primary residence, local lenders are familiar with the market and can guide you on conventional, FHA, or USDA options, with the latter potentially offering 0% down in eligible rural areas of Monroe County.
Are there any Pennsylvania state-specific first-time homebuyer programs accessible in Scotrun?
Yes, the Pennsylvania Housing Finance Agency (PHFA) offers the Keystone Home Loan program and down payment/closing cost assistance (like the Keystone Assistance Loan) to eligible buyers in Scotrun. These programs often feature below-market interest rates and can be combined with PHFA's Mortgage Credit Certificate (MCC) for a federal tax credit, providing significant savings for qualifying first-time buyers.
How does the seasonal tourism economy in the Poconos affect mortgage approval for local residents?
Lenders underwriting mortgages in Scotrun are accustomed to applicants who may work in hospitality, retail, or other seasonal industries. They will typically require a two-year history of stable seasonal employment and may use your two-year average income rather than just your peak season earnings. Solid credit and manageable debt-to-income ratios are especially important in this market.
What should I know about property taxes and insurance when calculating my mortgage payment in Scotrun?
Monroe County property taxes are a key component of your monthly escrow payment. Additionally, due to Scotrun's location in a wooded, mountainous region, lenders will require comprehensive homeowners insurance that may include specific riders for wildlife or tree fall. It's advisable to get insurance quotes early in the process to accurately estimate your total monthly payment.
Are jumbo loans common in Scotrun, and what are the requirements?
Yes, jumbo loans are frequently used for higher-value vacation homes or luxury primary residences in the Scotrun/Poconos area. Loan limits exceed the standard conforming limit ($ in Monroe County for 2024). Requirements are stricter, often needing a credit score above 700, a down payment of 10-20% or more, and significant cash reserves (often 6-12 months of mortgage payments) post-closing.
Nearby Cities
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Why Choose a Mortgage Lender in Scotrun?
Local Market Knowledge
Lenders who understand Scotrun'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 Scotrun and get competitive rates on your home loan.