Mortgage Lender in PA
We know that buying a home is one of the biggest financial decisions anyone can make, which is why it’s important to have the right mortgage lender in your corner to help with financing.
Buying your home is exciting, but can be stressful.
Luckily getting your mortgage doesn’t have to be.
Whether you’re a first time home buyer, building your dream home or downsizing, Pennian Bank, a trusted mortgage lender in Pennsylvania has a flexible, competitive residential mortgage option that’s right for you.
Our local community mortgage lenders will work with you to figure out what residential mortgage financing option is right for your unique situation. We offer options for:
First-Time Homebuyers
Qualified first-time homebuyers may be eligible for a residential mortgage with:
- Low down payment options.
- Competitive rates and lower closing costs.
First Front Door Program
Buying your first home is within your reach!
Pennian Bank is a proud participant in the FHLBank Pittsburgh’s (FHLBank) First Front Door (FFD) and FFD Keys to Equity grant programs, helping qualified buyers with down payment and closing cost assistance.
Who qualifies?
- Be a first time homebuyer, as defined by the FHLBank;
- Contribute a minimum of $1,500 personal funds toward the down payment and closing costs;
- Have a household income at or below 80 percent of the area median income at the time of registration, and;
- Complete at least four hours of homeownership counseling, including the topic of predatory lending, prior to the purchase of the home.
First Front Door Keys to Equity Fund
The First Front Door Keys to Equity fund allows for expanded access to home ownership opportunities for minority and first-generation first-time homebuyers.
Who qualifies?
- Be a first-time homebuyer and identify as a minority and/or first-generation homebuyer as defined by the FHLBank Pittsburgh;
- Contribute a minimum of $1,000 personal funds toward the down payment and closing costs;
- Have a household income at or below 120% of the area median income at the time of registration, and;
- Complete at least four hours of homeownership counseling, including the topic of predatory lending, prior to the purchase of the home.
Visit First Front Door website for additional information.
Talk to our experts about a first time home buyer mortgage today.
*Loans are subject to credit approval. Additional terms and conditions may apply. Contact a Pennian Bank representative for additional details.
Fixed Rate Mortgages
- Fixed rate mortgage applicants lock in a fixed monthly rate for the life of the loan.
Construction Mortgages
Turn Blueprints into Your Dream Home
We know building a home can be stressful, but your financing shouldn’t be!
Our Construction Loans are used to fund the building process from breaking ground to moving day.
- One application and one closing
- One loan – construction financing converts to a permanent mortgage when the home is complete.
- Available in Jumbo
- Serviced and retained in-house at Pennian Bank
- Fixed rate with term options
- Interest only during the construction period
- Construction draws in stages based on the work completed.
*Programs available to qualified borrowers. Property insurance required and flood insurance may be required. Terms and conditions are subject to change without notice. Subject to underwriting terms and conditions. Some restrictions may apply.
Home Equity Line of Credit
Are you looking for a way to use the equity in your home to help finance your dreams? Pennian Bank’s Choice Home Equity Line of Credit could be the right option for you! The convenience and flexibility of the Choice HELOC allows you to finance life’s expected or unexpected expenses.
Learn more about our Choice Home Equity Line of Credit.
We also offer residential mortgage options for:
- Jumbo Loans
Contact any of our local mortgage lender experts to talk more about your residential mortgage options or apply online today!
*Programs available to qualified borrowers. Loans are subject to credit approval. Property insurance required and flood insurance may be required. Terms and conditions are subject to change without notice. Subject to underwriting terms and conditions. Some restrictions may apply.
Mortgage FAQs
What makes up a mortgage payment?
Principal and interest are the two main components of a mortgage payment. The principal is the amount you borrowed for your loan and have to pay back, while the interest is what the lender charges to lend you the money.
Most borrowers also opt to use an escrow account to include property taxes, private mortgage insurance (if applicable), flood insurance (if applicable) and homeowner’s insurance. This allows you to pay a set amount per month, rather than pay a lump sum at the time the payments are due. Your lender will then pay those bills on your behalf when they come due.
How long does the mortgage process take?
The time it takes to obtain a mortgage can vary, but generally you can expect anywhere from 30-60 days. Some things can delay the process, such as missing documentation, title issues, negotiations with the seller, appraisals, inspections and repairs.
What’s the difference between pre-approval and pre-qualification?
Pre-approval and pre-qualification can be helpful for different reasons. A prequalification assesses your overall creditworthiness, based on information you provide, such as income and assets. For a pre-qualification, your credit is typically not pulled. Pre-qualifications also do not request supporting documents, so it only gives you an estimate of what you may be able to borrow, without verifying the
information provided.
A pre-approval is a more in-depth review of your creditworthiness. For a preapproval, you provide verified information to the lender to include proof of income, assets and employment. During this process, a credit check will be performed and all this information will be given reviewed by an underwriter. A pre-approval is a conditional commitment from the lender, which gives you a competitive advantage when making an offer on a home.
Why should I choose Pennian Bank as my mortgage lender?
Community banks, like Pennian Bank, offer homebuyers some unique advantages. Because community banks are generally smaller, they can offer direct access to mortgage originators, ensuring you have someone to walk you through your home buying journey. Our Pennian Bank team lives and works in your community, so you can rest assured that your mortgage is in the hands of someone you can trust.
Choosing Pennian Bank as your mortgage lender also means that your money stays in the community, unlike choosing a larger, national institution. We reinvest our dollars back into the communities we serve, helping our local economies thrive. Pennian Bank offers competitive rates and a variety of products and terms to help meet your unique needs. Our local teams and decision-making allow us to help you
get to closing day faster!
Meet Your Mortgage Lending Team
Our team of professionals offers years of experience in helping people finance the homes of their dreams. Contact any one of our lenders or stop into any Pennian Bank office for more information.
Shawn Proper
Senior Vice President, Director of Mortgage and Consumer Lending
717-436-2144 ext. 29036
