NMHL Mortgage Lending
Mortgage Lender in Erie, PA
Local expertise and competitive rates for Erie homebuyers.
Erie Housing Market Overview
Explore mortgage options in Erie, PA with NMHL. Our local expertise helps you navigate the Erie real estate market with competitive rates and personalized service.
See What You Qualify For
Takes about 5 minutes. No obligation. No credit check until you are ready.
Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Erie
Explore mortgage options tailored to Erie homebuyers
First Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreRefi-Shield
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
Learn MoreWhat Our Clients Say
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Erie's Thriving Housing Market
Erie's housing market is experiencing a resurgence, driven by a mix of new businesses and a growing population. The median home price is around $120,000, making it an attractive option for first-time homebuyers and those looking to relocate. Neighborhoods like Downtown Erie and the West End are seeing significant investment, with new developments and renovations on the rise.
At NMHL, we're committed to helping Erie residents navigate this changing market. Our local expertise and range of mortgage options make us the go-to lender for borrowers looking to take advantage of Erie's growing housing market.
Get pre-approved with NMHL today and take the first step towards homeownership in Erie's thriving housing market.
First-Time Homebuyer Programs in Pennsylvania
Pennsylvania offers a range of programs to support first-time homebuyers, including the Pennsylvania Housing Finance Agency (PHFA) program. This program provides down payment assistance and competitive interest rates for eligible borrowers. NMHL is an approved lender for the PHFA program and can help borrowers navigate the application process.
- Down payment assistance up to 4% of the home's value
- Competitive interest rates
- Flexible credit scoring
Contact NMHL to learn more about the PHFA program and other first-time homebuyer options available in Erie.
Don't miss out on the opportunity to become a homeowner in Erie. Explore NMHL's first-time homebuyer programs today.
Mortgage Options for Underserved Borrowers
At NMHL, we're committed to serving borrowers who may not fit the traditional mortgage mold. Our range of mortgage options includes programs for self-employed borrowers, those with bad credit, and veterans. We understand the unique challenges faced by these borrowers and offer tailored solutions to meet their needs.
For example, our VA loan program offers competitive interest rates and no down payment requirements for eligible veterans. We also offer alternative credit scoring models to help borrowers with less-than-perfect credit qualify for a mortgage.
If you're a self-employed borrower or have bad credit, don't give up on your dream of homeownership. Contact NMHL to explore your mortgage options.
Understanding Property Taxes in Erie
Property taxes in Erie are calculated based on the assessed value of the property. Homebuyers should factor in property taxes when determining their overall housing costs. The average effective property tax rate in Erie County is around 1.25%. NMHL can help borrowers understand their property tax obligations and how they impact their mortgage payments.
In addition to property taxes, homebuyers should also consider other costs associated with homeownership, such as insurance and maintenance. NMHL can provide guidance on these costs and help borrowers budget accordingly.
Get a clear understanding of your property tax obligations with NMHL's expert guidance.
Frequently Asked Questions
Mortgage rates in Erie vary depending on the loan program and borrower profile. At NMHL, we offer competitive rates starting from 6.5% APR for a 30-year fixed loan. Contact us for a personalized rate quote and to discuss your mortgage options.
NMHL offers several mortgage options for first-time homebuyers in Erie, including FHA loans with down payments as low as 3.5% and VA loans for eligible veterans. We also offer down payment assistance programs, such as the Pennsylvania Housing Finance Agency (PHFA) program, to help with down payment and closing costs.
Property taxes in Erie are calculated based on the assessed value of the property. The average effective property tax rate in Erie County is around 1.25%. Homebuyers should factor in property taxes when determining their overall housing costs. NMHL can help borrowers understand their property tax obligations and how they impact their mortgage payments.
Yes, NMHL offers mortgage options for borrowers with less-than-perfect credit. We consider alternative credit scoring models and offer subprime loan products. Our experienced loan officers will work with you to find a mortgage solution that fits your financial situation. Contact us to discuss your options and get pre-approved.
Some of the most popular neighborhoods in Erie include the Downtown Erie area, known for its vibrant cultural scene, and the surrounding neighborhoods of Glenwood and Lawrence Park. Other sought-after areas include the West End and the College Avenue neighborhood, which offer a mix of historic homes and modern amenities. NMHL can help you explore mortgage options for homes in these and other Erie neighborhoods.
School districts play a significant role in determining home values in Erie. The Erie City School District and surrounding suburban districts, such as the Harbor Creek School District, are highly rated and can impact property values. Homebuyers should research the local school districts and consider their reputation when evaluating neighborhoods. NMHL can provide guidance on how school districts may affect your mortgage options.
Related Resources
Ready to Buy in Erie?
Let NMHL help you navigate the Erie housing market with expert guidance and competitive rates.