The Best Mortgage Lenders in Taylor, PA
Compare verified mortgage lenders serving Taylor, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Taylor
Featured Mortgage Lenders
Penn East Federal Credit Union
Penn East Federal Credit Union
Penn East Federal Credit Union is a highly-rated local financial institution serving Lackawanna County and surrounding areas including Taylor. As a member-owned cooperative, they offer personalized mortgage services with competitive rates and local decision-making. Their mortgage team provides comprehensive guidance through the entire home buying process, with special expertise in first-time homebuyer programs and government-backed loans. The credit union is known for exceptional customer service and community-focused lending practices.
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Fidelity Bank
Fidelity Bank
Fidelity Bank is a well-established regional bank with strong roots in Northeastern Pennsylvania, serving Taylor and the greater Scranton area. Their mortgage division offers a full range of loan products with local processing and underwriting, ensuring quick turnaround times. The bank is particularly noted for their construction lending expertise and flexible qualification criteria. Customers consistently praise their responsive loan officers and the bank's commitment to supporting local communities through affordable mortgage solutions.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage maintains a strong local presence in the Scranton area with experienced loan officers serving Taylor and surrounding communities. As a nationwide lender with local expertise, they offer competitive rates and a wide variety of mortgage programs. Their local team is praised for providing personalized service and expert guidance, particularly for first-time homebuyers navigating the complex mortgage process. The company has built a reputation for transparent communication and reliable closing timelines throughout Northeastern Pennsylvania.
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Frequently Asked Questions
Common questions about mortgage lending in Taylor, PA
What are the typical down payment requirements for a mortgage in Taylor, PA, given the local market?
In Taylor's affordable market, many conventional loans are available with down payments as low as 3-5%. For the median home price in Taylor (around $150,000-$200,000), this translates to an initial investment of approximately $4,500 to $10,000. Local lenders are also familiar with USDA Rural Development loans, which offer 0% down payment options for eligible properties in and around Taylor.
Are there any first-time homebuyer assistance programs specific to Taylor or Lackawanna County?
Yes, the Pennsylvania Housing Finance Agency (PHFA) offers its Keystone Home Loan programs, which are accessible to Taylor residents. These include down payment and closing cost assistance grants, such as the Keystone Forgivable in Ten Years Loan (K-FIT). Additionally, the Lackawanna County Homeownership Program may provide additional grants for qualified first-time buyers purchasing within the county.
How do property taxes in Taylor, PA, impact my mortgage payment and qualification?
Taylor has a combined borough and school district millage rate that results in property taxes typically ranging from 2.0% to 2.5% of a home's assessed value. This is a significant factor in your total monthly payment (PITI). Lenders will calculate this into your debt-to-income ratio, so it's crucial to get an accurate tax estimate during pre-approval, as higher taxes can affect the loan amount you qualify for.
What type of home appraisal challenges are common in Taylor's older housing stock?
Taylor features many older, solidly built homes, some dating back to the early 20th century. Appraisals here often require special attention to outdated electrical systems (like knob-and-tube wiring), older plumbing, or the presence of basement moisture. Lenders may require repairs or inspections for these items to be completed before closing, so it's wise to budget for potential fixes.
Do local lenders in Taylor offer any special programs for multi-family properties, given the number of duplexes in the area?
Absolutely. Given the prevalence of two-unit homes in Taylor, local banks and credit unions often have experience with owner-occupied multi-family financing. You can typically finance a duplex with as little as 3.5% down using an FHA loan, and the projected rental income from the second unit can help you qualify for a larger mortgage amount, which is a key strategy for first-time investors in the area.
Why Choose a Mortgage Lender in Taylor?
Local Market Knowledge
Lenders who understand Taylor'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 Taylor and get competitive rates on your home loan.