NMHL Mortgage Lending
Mortgage Lender in Philadelphia, PA
Local expertise and competitive rates for Philadelphia homebuyers.
Philadelphia Housing Market Overview
Explore mortgage options in Philadelphia, PA with NMHL. Our local expertise helps you navigate the Philadelphia 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 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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Understanding Philadelphia's Local Housing Market
The Philadelphia housing market is characterized by a mix of historic homes, modern condos, and new construction. The median home price is around $240,000, with prices varying depending on the neighborhood and property type. NMHL's local expertise can help you navigate this complex market and find the best mortgage options for your needs.
Some of the most in-demand neighborhoods in Philadelphia include:
- Fishtown and Northern Liberties, known for their vibrant arts and culture scene
- University City, home to many of Philadelphia's top universities and research institutions
- Center City, the heart of Philadelphia's business and financial district
NMHL's local expertise can help you navigate Philadelphia's complex housing market and find the best mortgage options for your needs.
Mortgage Options for Underserved Borrowers in Philadelphia
At NMHL, we understand that many borrowers in Philadelphia face unique challenges, such as bad credit, self-employment, or past financial hardships. That's why we offer a range of specialized loan programs, including:
- FHA loans for borrowers with lower credit scores or smaller down payments
- VA loans for veterans and active-duty military personnel
- Non-QM loans for self-employed borrowers or those with non-traditional income
Our experts can help you explore these options and determine which programs you may be eligible for.
Don't let credit challenges or past financial issues hold you back from achieving your homeownership goals. Contact NMHL today to explore your mortgage options.
First-Time Homebuyer Programs in Pennsylvania
The Pennsylvania Housing Finance Agency (PHFA) offers several programs to help first-time homebuyers achieve their goals, including:
- The Keystone Home Loan Program, which offers competitive interest rates and down payment assistance
- The PHFA Down Payment and Closing Cost Assistance Program, which provides up to $5,000 in assistance
NMHL can help you explore these programs and determine which ones you may be eligible for.
Don't miss out on the opportunity to become a homeowner in Philadelphia. Contact NMHL today to learn more about first-time homebuyer programs and get pre-approved for a mortgage.
Property Taxes in Philadelphia: What You Need to Know
As a homeowner in Philadelphia, you'll need to factor property taxes into your mortgage planning. The average effective property tax rate in Philadelphia is 1.34%, which is slightly higher than the statewide average. NMHL can help you understand how property taxes will impact your monthly mortgage payments and overall cost of homeownership.
Don't forget to factor property taxes into your mortgage planning. Contact NMHL today to get a better understanding of your total costs.
Frequently Asked Questions
The average effective property tax rate in Philadelphia is 1.34%, which is slightly higher than the statewide average. Homeowners in Philadelphia can expect to pay around $2,500 to $3,000 per year in property taxes, depending on the value of their property. NMHL can help you factor property taxes into your mortgage planning.
Yes, the Pennsylvania Housing Finance Agency (PHFA) offers several down payment assistance programs for first-time homebuyers, including the Keystone Home Loan Program and the PHFA Down Payment and Closing Cost Assistance Program. NMHL can help you explore these options and determine which programs you may be eligible for.
School districts play a significant role in determining home values in Philadelphia. Highly-rated school districts like Central Philadelphia and Northwest Philadelphia tend to have higher property values. NMHL can help you understand how school districts may impact your home buying decision and mortgage options.
While bad credit can make it more challenging to get pre-approved for a mortgage, NMHL offers specialized loan programs for borrowers with credit challenges. Our experts can help you explore options like FHA loans or subprime mortgages, and provide guidance on improving your credit score to qualify for better loan terms.
Some of the most popular neighborhoods in Philadelphia include Fishtown, Northern Liberties, and University City. These areas offer a mix of historic charm, cultural attractions, and modern amenities. NMHL can help you understand the local market conditions and mortgage options in these neighborhoods.
The pre-approval process typically takes a few days to a week, depending on the complexity of your application and the speed at which you provide required documentation. NMHL's streamlined pre-approval process can help you get pre-approved quickly, so you can make a serious offer on your dream home in Philadelphia.
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Ready to Buy in Philadelphia?
Let NMHL help you navigate the Philadelphia housing market with expert guidance and competitive rates.