Home Mortgage Loans

Looking for a Mortgage in Philadelphia?

Your Local Mortgage Experts

Mother and child sitting in new house 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:

Custom Loan Options:
We’ll help you explore loan amounts and mortgage options that align with your financial goals and budget.

Comprehensive Cost Understanding:
Learn about interest rates, property taxes, and insurance costs to plan effectively for homeownership.

Mortgage Contract Guidance:
We walk you through the fine print so you understand your rights and responsibilities, making the mortgage process feel more transparent.

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:

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:

Phone: 215-634-4621

Email: loaninfo@prsbank.onmicrosoft.com

Fax: 215-634-1225

Additional Resources

Find Your Mortgage Loan Originators: View a listing of Port Richmond Savings Mortgage Loan Originators and their National Mortgage Licensing System (NMLS) unique IDs.

Fixed Rate Payment Calculator: Use our calculator to see how rates and down payments affect your monthly payment.

Download the Residential Loan Application: Get the application here.

Learn the lingo: Read up on common mortgage terms and their definitions.

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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