The Best Mortgage Lenders in Shippensburg, PA
Compare verified mortgage lenders serving Shippensburg, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Shippensburg
Featured Mortgage Lenders
Members 1st Federal Credit Union
Members 1st Federal Credit Union
Members 1st Federal Credit Union is one of Pennsylvania's most highly-rated mortgage lenders with extensive experience serving the Shippensburg area. As a member-owned financial cooperative, they offer competitive rates and personalized service that consistently earns high customer satisfaction ratings. Their mortgage team provides comprehensive guidance through the entire home buying process, with special expertise in first-time homebuyer programs and various government-backed loans. With multiple branches throughout central Pennsylvania and robust digital banking services, they combine local community focus with modern convenience.
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F&M Trust
Farmers and Merchants Trust Company
F&M Trust has been serving south-central Pennsylvania communities for over a century, including Shippensburg residents. This community bank maintains exceptional customer satisfaction ratings due to their local decision-making, personalized service, and deep understanding of the regional housing market. Their mortgage specialists live and work in the communities they serve, providing tailored loan solutions with competitive rates. F&M Trust is particularly noted for their construction lending expertise and flexible underwriting approach that considers individual borrower circumstances beyond just credit scores.
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Fulton Mortgage Company
Fulton Mortgage Company
Fulton Mortgage Company, a division of Fulton Bank, brings extensive regional expertise to Shippensburg homebuyers with over 140 years of banking experience in Pennsylvania. Their dedicated mortgage professionals provide comprehensive lending solutions with the stability of a large financial institution combined with localized service. They excel at navigating complex financing scenarios and offer a wide range of loan products to meet diverse needs. Customers consistently praise their responsive communication, efficient processing, and competitive rate offerings, making them a top choice for both purchase and refinance transactions throughout the region.
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Frequently Asked Questions
Common questions about mortgage lending in Shippensburg, PA
Are there any first-time homebuyer assistance programs specific to Shippensburg, PA?
Yes, the Pennsylvania Housing Finance Agency (PHFA) offers statewide programs like Keystone Home Loan and Keystone Government Loan, which are accessible to Shippensburg buyers. Additionally, Cumberland County, where Shippensburg is located, may offer down payment and closing cost assistance through its HOME Investment Partnerships Program. It's wise to consult with a local lender familiar with these layered opportunities.
How do property taxes in Shippensburg Borough and the surrounding township affect my mortgage payment?
Property taxes in the Shippensburg area are a significant component of your monthly payment. The borough and township have different millage rates, with borough rates typically being higher. Your lender will use the specific rate for the property's jurisdiction to calculate an accurate escrow payment, which is crucial for budgeting in this market.
What is a typical down payment needed for a home in Shippensburg's current market?
While 20% down is ideal to avoid mortgage insurance, many local buyers successfully use conventional loans with 3-5% down or FHA loans with 3.5% down. Given Shippensburg's relatively affordable median home price compared to larger PA metros, saving for a down payment is often more achievable here, but competitive offers may benefit from a higher down payment.
Are USDA rural development loans available for homes in the Shippensburg, PA area?
Absolutely. Much of the area surrounding Shippensburg Borough is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a major advantage for eligible buyers looking at properties just outside the borough limits, making homeownership more accessible in this semi-rural region.
How does the presence of Shippensburg University impact the local mortgage and housing market?
The university creates a steady demand for rental properties, which can make single-family homes attractive investments. For primary residence buyers, it's important to note that some lenders may have stricter policies or require larger down payments for properties very close to campus due to perceived higher turnover or rental concentration. Discussing location specifics with your lender is key.
Why Choose a Mortgage Lender in Shippensburg?
Local Market Knowledge
Lenders who understand Shippensburg'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 Shippensburg and get competitive rates on your home loan.