Pennsylvania Mortgage Lenders

Home loans and mortgages are not cookie-cutter methods of financing. We at Genisys Credit Union are proud to offer mortgage loan packages tailored to each member's circumstances. Mortgage lenders who take the time to get to know you and your unique situation will craft a loan that works with your lifestyle and budget.

Genisys' expert mortgage lenders will work with you to find the right product, whether you're a first-time buyer, in the market for a lakeside cottage, or in the process of purchasing or constructing your dream home.

Have Rising Mortgage Rates got You Worried?

For the first time, pre-qualifications are offered with our no-cost Rate Lock or Lower feature, guaranteeing you the lowest possible rate. For new buy mortgage pre-qualification, this rate lock is available on both ARM and Fixed-Rate programmes and locks in your speed at the time of pre-qualification, even if rates drop before you apply for your new home loan.

Credit requests are valid for 120 days. You can't get pre-approval for a different product or on other terms. The only way to guarantee your final rate is with a purchase agreement.

Consider Refinancing Your Current Loan

We will match you with the optimal solution, be it debt consolidation, college tuition assistance, rate reduction, or the settlement of a land contract.

Where do you even begin? By coming to this page, you have taken the first step in achieving your goal. We will assist you in choosing what you require and will be there for you every step of the way while you buy or construct your house. Furthermore, you will interact with a specialised mortgage adviser who will provide you with access to a website detailing your loan status and will notify you when we are ready to close. You can contact your consultant anytime via phone or email, and they will be there to help you every step of the way.

A mortgage is a loan used primarily for acquiring or refinancing real estate, most commonly a private residence. Mortgages allow homebuyers to finance the purchase of a property for some time rather than entirely at once. Most homebuyers obtain a mortgage because they lack the cash to pay the total purchase price.

How much of a mortgage would I be able to get?

Mortgage companies use your salary, debt payments, and down payment size to determine if you can buy a house. Genisys Mortgage recommends that your monthly housing payment (PITI) be at most 25% of your pre-tax income. The housing ratio measures housing costs as a percentage of disposable income.

The percentage of your total debts to your annual income is another factor considered by lenders, the best mortgage lenders in Pennsylvania. In addition to the mortgage, this figure should account for all other recurrent debt payments, such as vehicle loans, student loans, and credit card minimums. The optimal ratio of total debt to annual income is 43% or lower.

What size down payment do I need to come up with?

When getting a mortgage, saving for a down payment is usually the most challenging obstacle. Government programmes like the VA loan for veterans and FHA-insured loans provide substantially smaller down prices but come with the cost of private mortgage insurance (PMI).

A typical mortgage loan requires private mortgage insurance payments if the buyer puts down less than 20% of the purchase price (PMI). Private mortgage insurance (PMI) shields the mortgage lender from a loss if you default on your loan.

If I want to get PMI, what credit score do I need?

Although everyone's financial position is unique, your credit score may affect whether or not you're eligible for PMI, or at least the rate of your down payment and other aspects related to PMI.

Most borrowers can receive private mortgage insurance (PMI), but their premiums depend on their credit scores. Those with better scores will pay less each month for PMI. Consult with your personal Genisys Mortgage Consultant to review your financial status, mortgage choices, and final choice.

Is it a good idea to get out of my mortgage early?

The thought of being free of a mortgage appeals to some, but it is only sometimes practical. The benefits of paying off your mortgage early are clear: lower interest rates and payments over the life of the loan. However, doing so may require you to tap into savings or retirement funds, which may or may not be a good investment depending on how much you spend on interest and how long you have left on loan.