NMHL Mortgage Lending
Mortgage Lender in Philadelphia, PA
Local expertise and competitive rates for Philadelphia homebuyers.
Philadelphia Housing Market Overview
Philadelphia offers remarkable affordability for a major Northeast corridor city. Its thriving food scene, world-class healthcare institutions, and revitalized neighborhoods like Fishtown have attracted young professionals seeking urban living without NYC or DC price tags.
Philadelphia Neighborhoods
Popular areas for homebuyers in Philadelphia, PA
ZIP Codes We Serve in Philadelphia
Mortgage lending available in these Philadelphia ZIP codes
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 Philadelphia
Explore mortgage options tailored to Philadelphia 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
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Our Presence
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Understanding Philadelphia's Housing Market
Philadelphia's housing market is characterized by diverse neighborhoods, each with its own unique character and charm. From the historic homes of Society Hill to the trendy boutiques of Fishtown, the city offers a range of options for homebuyers. The median home price of $260,000 makes Philadelphia an attractive choice for those seeking affordability in the Northeast corridor.
NMHL's local expertise can help borrowers navigate the complexities of Philadelphia's housing market, including the impact of property taxes, school districts, and neighborhood trends on home values.
NMHL's Philadelphia mortgage experts can help you understand the local market and find the best mortgage options for your needs.
First-Time Homebuyer Programs in Philadelphia
First-time homebuyers in Philadelphia can take advantage of several programs designed to make homeownership more accessible. The PHFA First Mortgage Program offers below-market interest rates and down payment assistance, while the Philly First Home program provides forgivable loans for down payment and closing costs.
- PHFA First Mortgage Program: below-market rates and down payment assistance
- Philly First Home: forgivable loans for down payment and closing costs
- NMHL's First-Time Homebuyer Program: specialized mortgage options and guidance
NMHL's experts can help you explore these programs and determine the best fit for your situation.
Don't miss out on the opportunity to take advantage of these valuable programs. Contact NMHL today to learn more.
Mortgage Options for Underserved Borrowers in Philadelphia
At NMHL, we understand that not all borrowers fit the traditional mortgage mold. That's why we offer specialized mortgage programs for self-employed individuals, those with bad credit, and veterans. Our experts will work with you to identify the best mortgage options and provide guidance throughout the application process.
Our programs include:
- NMHL's Self-Employed Mortgage Program: designed for borrowers with non-traditional income
- NMHL's Credit Rebuilder Program: helps borrowers improve their credit profiles over time
- NMHL's VA Loan Program: competitive rates and terms for eligible veterans
NMHL is committed to helping all borrowers achieve their homeownership goals, regardless of their financial situation.
Getting Pre-Approved for a Mortgage in Philadelphia
The first step in the mortgage process is getting pre-approved. NMHL's online pre-approval application makes it easy to get started. Simply provide some basic financial information, and our experts will review your credit report and provide a pre-approval decision.
Once you're pre-approved, you'll have a better understanding of your mortgage options and can begin exploring homes in Philadelphia with confidence.
Get pre-approved today and take the first step towards homeownership in Philadelphia.
Frequently Asked Questions
The average property tax rate in Philadelphia is 1.36%. This rate applies to the assessed value of the property, which is typically a percentage of the home's market value. Borrowers should factor property taxes into their overall cost of homeownership when considering a mortgage in Philadelphia.
School districts play a significant role in determining home values in Philadelphia. The School District of Philadelphia serves the city, with various schools rated by the Pennsylvania Department of Education. Homebuyers often prioritize neighborhoods with highly-rated schools, which can impact property values and resale potential. NMHL's local expertise can help borrowers understand how school districts may affect their mortgage options.
The Pennsylvania Housing Finance Agency (PHFA) offers several programs for first-time homebuyers, including the PHFA First Mortgage Program and the Homebuyer Assistance Program. These programs provide below-market interest rates, down payment assistance, and other benefits to help make homeownership more accessible. NMHL works with PHFA and other local organizations to provide borrowers with access to these valuable resources.
While bad credit can present challenges, NMHL offers mortgage options for borrowers with less-than-perfect credit. Our experts will review your credit report and work with you to identify potential solutions, such as credit repair or alternative credit scoring models. We also offer NMHL's Credit Rebuilder Program, which helps borrowers improve their credit profiles over time.
Neighborhoods like Fishtown, Kensington, and Port Richmond are experiencing significant growth and revitalization. These areas offer a mix of new developments, cultural attractions, and community investment, making them attractive to homebuyers. NMHL's local knowledge can help borrowers understand the opportunities and challenges associated with buying in these neighborhoods.
To get started, simply contact NMHL to schedule a consultation with one of our experienced mortgage professionals. We'll review your financial situation, credit report, and goals to determine the best mortgage options for you. Our online pre-approval application is also available for your convenience, allowing you to get started quickly and easily.
Related Resources
Ready to Buy in Philadelphia?
Let NMHL help you navigate the Philadelphia housing market with expert guidance and competitive rates.