The Best Mortgage Lenders in Tyrone, PA
Compare verified mortgage lenders serving Tyrone, Pennsylvania. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tyrone
Featured Mortgage Lenders
Pennian Bank Mortgage Team
Pennian Bank
Pennian Bank has been serving Central Pennsylvania communities for over 25 years with deep roots in Blair County. As a community-focused institution, they offer personalized mortgage services with local decision-making, competitive rates, and extensive knowledge of the Tyrone area housing market. Their mortgage team receives consistently high marks for responsive communication, transparent processes, and helping borrowers find the right loan products for their specific needs.
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Members 1st Federal Credit Union Mortgage Department
Members 1st Federal Credit Union
With a strong presence throughout Central Pennsylvania, Members 1st FCU serves Tyrone residents with comprehensive mortgage solutions and member-focused service. They consistently earn high customer satisfaction ratings for their competitive rates, low fees, and educational approach to home financing. Their mortgage specialists provide personalized guidance through the entire homebuying process, and as a credit union, they prioritize member benefits over profits.
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Blue Ribbon Mortgage Group
Blue Ribbon Mortgage
Blue Ribbon Mortgage has built an exceptional reputation throughout Central Pennsylvania, including serving Tyrone homebuyers with outstanding service and expertise. They specialize in finding creative solutions for complex financing situations and pride themselves on transparent communication and competitive rates. Their team of experienced mortgage professionals receives nearly perfect reviews for their attention to detail, responsiveness, and ability to close loans efficiently while providing exceptional customer service.
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Frequently Asked Questions
Common questions about mortgage lending in Tyrone, PA
What are the typical down payment requirements for homes in Tyrone, PA, given the local market?
For Tyrone's relatively affordable housing market, many conventional loans require a 5% down payment, though some lenders may offer 3% options. FHA loans are also popular here, requiring only 3.5% down. Local credit unions like AmeriServ or First National Bank often have competitive first-time homebuyer programs with low down payment assistance.
Are there any local or county-specific first-time homebuyer assistance programs available in Tyrone?
Yes, Tyrone homebuyers can access the **Blair County Housing Trust Fund**, which offers down payment and closing cost assistance grants. Additionally, the Pennsylvania Housing Finance Agency (PHFA) offers the **Keystone Home Loan Program** and **HOMEstead** program, which provide favorable rates and down payment assistance to eligible buyers in Blair County, including Tyrone.
How do property taxes in Tyrone Borough and Blair County impact mortgage affordability?
Blair County has moderate property tax rates compared to the state average. When calculating your mortgage payment, lenders will include Tyrone Borough's millage rate (currently around 21.5 mills) and the Blair County rate. It's crucial to factor this into your debt-to-income ratio, as taxes can add $150-$300+ to your monthly payment, depending on the home's assessed value.
What should I know about getting a mortgage for older, historic homes in Tyrone's established neighborhoods?
Many homes in Tyrone's core neighborhoods are 80-100+ years old. Lenders may require a more stringent home inspection and could mandate repairs for FHA/VA loans if issues like outdated wiring, roofing, or foundations are found. Consider a conventional loan with a renovation option (like Fannie Mae's HomeStyle) if the home needs updates, as local lenders are familiar with appraising these unique properties.
How do local employment trends at places like the Tyrone Hospital or the nearby Penn State University impact mortgage approval?
Lenders view employment at stable institutions like Tyrone Hospital, the school district, or Penn State (in nearby State College) favorably due to consistent income. However, if your work is tied to more cyclical local manufacturing, you may need to show a longer employment history. Self-employed individuals or gig workers should prepare two years of tax returns, as local lenders underwrite carefully given the area's economic mix.
Nearby Cities
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Why Choose a Mortgage Lender in Tyrone?
Local Market Knowledge
Lenders who understand Tyrone'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 Tyrone and get competitive rates on your home loan.