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Port Richmond Savings - Your Community Bank in Philadelphia
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Attention PRS Debit Cardholders: Due to system maintenance by Shazam, our Debit Card Processor, our PRS Debit Cards may experience intermittent downtime on Wednesday, January 14th from 6:00am - 8:00am. Thank you.
Looking for a Mortgage in Philadelphia?
Your Local Mortgage Experts
Navigating the mortgage process can be overwhelming, but you don't have to do it alone. Our experienced mortgage officers are dedicated to guiding you every step of the way—from initial preapproval to the moment you get your keys. Whether
you’re refinancing your home or purchasing a new one, here’s how we can assist you:
What We Offer:
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Custom Loan Options: We’ll help you find the right loan amount and mortgage options tailored to your financial goals and budget.
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Comprehensive Cost Understanding: Learn about interest rates, property taxes, and insurance costs to plan effectively for homeownership.
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Mortgage Contract Guidance: We decode the fine print so you understand your rights and obligations, making the mortgage process transparent and straightforward.
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Avoid Panic Buying: Experience peace of mind with our assistance in setting a realistic budget, reducing the fear of missing out on the perfect home.
Preapproval: Your First Step in the Home Buying Journey
A Preapproval is a crucial first step in purchasing a home. It determines how much you can borrow, providing you with clarity and confidence about your financial standing. Here's why you should consider it:
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Strengthen Your Position: Being preapproved positions you as a more attractive buyer, helping you compete in a busy market.
- Know Your Budget: Understand exactly how much home you can afford and streamline your search.
Get Started Today!
Contact Our Loan Department:
Additional Resources
Frequently Asked Questions About the Mortgage Process
- Personal identification
- Social Security card
- Two most recent pay stubs showing current year-to-date earnings
- Recent bank statements
- Most recent two years of full Tax Returns
- Investment account statements
- A list of monthly debts
- Rental information and landlord references
- Gift letter (if applicable)
- Signed credit authorization we provide you
For a primary or secondary mortgage, we offer conventional uninsured mortgages- without private mortgage insurance (PMI)- so you’ll need a 20% down payment. We do not offer PMI loans with less than 20% down.
At Port Richmond Savings, we handle property taxes and insurance through an escrow account. Each month, a portion of your payment goes into this account. We then use those funds to pay your tax and insurance bills on your behalf. You’ll receive an annual escrow analysis so you can see how your account is being managed throughout the loan term.
Port Richmond Savings' Primary Lending/Assessment area includes:
Most of Philadelphia County. Please inquire about our exact primary lending/assessment area.
We also will lend in the following counties:
Pennsylvania
- Berks
- Bucks
- Carbon
- Chester
- Dauphin
- Delaware
- Lebanon
- Lancaster
- Lehigh
- Northampton
- Monroe
- Montgomery
- Schuylkill
New Jersey:
- Atlantic
- Burlington
- Camden
- Cape May
- Cumberland
- Gloucester
- Ocean
- Salem
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