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Mortgage America

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Mortgage America has been in the home loan business in the Pennsylvania region for nearly 40 years. What makes Mortgage America stand apart from its competition is the fact that it cultivates a team of locals that are truly plugged into the local housing market and neighboring communities.

Jump down to Mortgage America reviews below to see what customers are saying about their experience

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Mortgage America Awards:

Mortgage America has received a number of accolades. Some of the most notable being that Mortgage America has been ranked number one in Pennsylvania by the PA Housing Financing Agency(PHFA) for a total of five years.

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The Good

  • Variety of Loan Tpes
  • Free Pre-Approval Letter
  • Expertise in Pennsylvania Housing Market

Variety of Loan Types

Mortgage America has a variety of loan programs. These programs includes:

Mortgage America does not explicitly give a range of its potential interest and APR rates however it does divulge information about its down payments.

Mortgage America will typically allow borrowers to but down as little as 5% of the purchase price of the home to qualify for a loan. For a specific cases however, some borrowers that opt for a conventional loan may be approved to for a loan with as little as 3% down.

Free Pre-Approval Letter

Mortgage America saves potential borrowers a few hundred dollars by issuing free pre-approval certificates. The certificate will outline a buyers mortgage qualification, which gives home sellers the confidence to accept a buyers offers, giving buyers the advantage over other competing offers. Mortgage America also includes a free Fannie Mae DU (Desktop Underwriter) Approval, which can be used nation wide.

Expertise in Pennsylvania Housing Market

On the Mortgage America website, it frequently highlights the benefit of taking out a loan with a local PA mortgage company. As opposed to national brokerage chain, Mortgage America has deep roots in the region that it serves it clients, helping to give peace of mind to new buyers that are planning on moving to Pennsylvania for the first time.

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The Bad

  • Interest Rates are not Public

Interest Rates are not Public

Most mortgage companies will give potential borrowers a range indicating its interest rate or APR rate, but Mortgage America does not do that.

This inconvenience may turn borrowers off who are wanting to comparison shop, but without the hassle of visiting the physical store or talking to a rep over the phone

 

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The Bottom Line

Mortgage America has a strong reputation in the Pennsylvania area. It would be worth visiting on of its locations to learn more about how its services can benefit you in the home buying process.

Check out Mortgage America reviews below to see what customers are saying about their experience.

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