Find the Best Mortgage Lenders in Pittsburgh, PA
Top 11 Pittsburgh Mortgage Companies | ||||
|---|---|---|---|---|
| BOK Financial Mortgage | Offers conventional, jumbo, FHA, VA, USDA and Native American home loan programs plus mortgage refinancing. The Lock and Build program is available to finance new home construction. Direct mortgage lender. |  | ||
| Mr. Cooper | Read 9,123 Reviews | Offers conventional, FHA, VA and jumbo home loans nationwide. Refinances homes with FHA Streamline and VA IRRRL (interest rate reduction refinance loan). Provides convenient app. No online payment fees. Non-bank mortgage servicer. |  | |
| ClearPath Lending | Offers FHA, VA, conventional and jumbo loans for purchase, plus mortgage refinancing options. Lets customers track loan progress via an online portal. Funds most loans within 30 days. |  | Visit Website Toll free number (855) 980-6844 | |
| Vanderbilt Mortgage | Specializes in financing for new or used manufactured, modular and mobile homes. Provides conventional, land-home, FHA and biweekly advantage mortgages. Down payments start at 3.5% of the total purchase price. |  | Visit Website Toll free number (855) 976-1445 | |
| AmeriSave Mortgage | Provides FHA, VA, USDA and jumbo purchase loans plus cash-out refinancing options. Gives accurate quotes within minutes. Prequalify and close in as little as 25 days. Direct mortgage lender. |  | Toll free number (855) 794-5993 | |
| Advocate Mortgage Services, Inc. | Read Expert Review | Provides a la carte real estate options and financial planning services. Options for those self-employed and consumers with poor credit. Convenient servicing, including online applications and daily office hours. |  | |
| AJM Mortgage | Read Expert Review | Provides a variety of mortgage types and loan programs, including FHA loans, VA loans and fixed-rate and adjustable-rate conventional loans. Offers special programs for veterans and first-time home buyers. |  | |
| Federated Mortgage Corp. | Read Expert Review | Provides purchasing and refinancing options for first-time homebuyers, veterans and those with poor credit. Terms from five to 30 years. View daily rate tables on the company website. |  | |
| Holland Mortgage Advisors | Read Expert Review | Provides mortgage lending and personalized attention to residents of Pittsburgh. Offers pre-approval and refinancing opportunities for qualifying customers. Programs for first-time homebuyers available. |  | |
| Reliance First Capital | Read Expert Review | Offers FHA loans, VA loans and refinancing. Provides special lending programs for nontraditional buyers, including those who have filed bankruptcy or who may need more than the conventional limit. |  | |
| Veritas Mortgage Services | Read Expert Review | Offers FHA, VA, USDA, conventional loans, fixed-rate loans and jumbo loans to residents of Pittsburgh. Provides second home financing up to 90% loan to value (LTV) and assists bad credit buyers with getting loans. |  |
Mortgage rate trends in Pittsburgh
Owning a home in Pittsburgh allows homeowners to build equity, receive tax advantages, invest in their communities and have stability. The average listing for homes in Pittsburgh is roughly $200,000, but prices vary depending on the location, layout and condition of the property. For a better idea of what you may be able to afford as well as your potential mortgage payment, check out our mortgage calculator.
| Location | Median home price |
|---|---|
| Lawrenceville | $350,000 |
| Esplen | $99,000 |
| Gayly | $126,000 |
| Gascola | $142,000 |
| Bellefield | $784,000 |
How to choose a Pittsburgh mortgage lender
Because Pittsburgh is home to many young couples and members of the Navy, the most common loan types in Pittsburgh are loans through FHA for first-time home buyers and VA loans for active military and veterans.
Popular neighborhoods in Pittsburgh are home to college students, young married couples and individuals working in traditional office jobs. Demographics fluctuate from wealthy families to individuals in lower-income brackets.
- Lawrenceville: Formerly an industrial area, Lawrenceville is now a hub for creativity and nightlife. It's filled with small businesses, brunch spots and a brewery inside a historic church. The average cost of a home in this area ranges from $180,000 to $299,000. Popular lending options here include conventional loans and FHA loans for first-time homebuyers.
- Shadyside: One of Pittsburgh's wealthier neighborhoods and known for its Victorian-style mansions, Shadyside draws a crowd each summer during its annual concert block party. The area features award-winning restaurants and high-end retailers, but parking and green spaces are hard to come by. Homes in this district start around $550,000 and can exceed $2,000,000. Property owners may benefit from the appreciating value of their homes. The best loan types for residents here are conventional and jumbo loans.
- Gayly: A suburban neighborhood featuring studio apartments and homes built in the 1970s, this area is populated by families of varying income brackets. Residents in this neighborhood work in a variety of positions, from executive sales to fast food associates. Homes in this area range between $100,000 and $149,000, and the median home price is around $126,000. Mortgage loan types here are typically FHA loans, VA loans and HUD loans.
- Mount Washington: Admired for its beautiful panoramic views of the city, Mount Washington boasts a quaint shopping district, a 280-acre park, upscale restaurants and charming coffee shops. Homes in this area are appreciating, and the current average cost for a home in this neighborhood ranges from $179,000 to $259,000, though some homes cost about $550,000. Common loan types in this neighborhood are conventional, fixed-rate and FHA loans.
Pittsburgh federal mortgage requirements
Residents in Pittsburgh who want to purchase a home in an expensive neighborhood — like those in Squirrel Hill, Lawrenceville and Shadyside — may benefit from a conforming loan. These are mortgages equal to or less than the dollar amount established by the Federal Housing Finance Agency (FHFA) that meet Freddie Mac or Frannie Mae funding criteria.
The primary federal requirements for obtaining a conforming loan in Pittsburgh are:
- A minimum credit score of 620 to 700, depending on the type of loan and the size of the down payment
- A debt-to-income ratio that doesn’t exceed 36% or 45%, depending on the type of loan and the size of the down payment
Finding Pittsburgh mortgage lenders
Choosing a lender for a mortgage loan is very personal. Because a consumer has a mortgage payment for 15 to 30 years, it’s critical to compare rates from several lenders, ask about turnaround times for pre-approvals, appraisals and closings and find a lender who can assist with specific needs, like having a low credit score or being self-employed. If a lender specializes in jumbo loans, but a consumer doesn’t require a loan limit beyond a conventional amount, the borrower should continue researching companies until they find the right lender.
When evaluating a lender, consider which factors are important — whether it’s competitive rates or friendly customer service — and then read online reviews and ask for recommendations from family and friends who have utilized services from the particular company.
Pittsburgh home loan FAQ
- What credit score do you need to get a mortgage in Pennsylvania?
- Lenders differ, but most require a FICO credit score between 580 and 620 to qualify for borrowing. Conventional loans and loans through the U.S. Department of Agriculture (USDA) typically require a credit score of 620 to 640, while loans through the Federal Housing Administration (FHA) require a minimum credit score of 500 with a 10% down payment or 580 with a 3.5% down payment.
- Can you negotiate a better mortgage rate in Pittsburgh, PA?
- You can always try to negotiate a mortgage rate with your lender, but they may not agree to your terms. If you have desirable qualifications for a borrower — great credit, very low debt and a high down payment — you have more leverage.
- How quickly can you get a mortgage offer in Pennsylvania?
- On average, mortgage offers in Pennsylvania range from 30 days to 45 days, though some may take up to 60 days. Borrowers can be pre-approved much more quickly, however.
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Pittsburgh mortgage company information
AJM Mortgage provides several mortgage loan types and helps borrowers determine specific lending amounts based on their employment history, credit history, current savings and debts and the amount available for a down payment. Though the amount of cash needed to purchase a home varies, each home buyer should be prepared to pay earnest money, closing costs and a down payment. Many borrowers qualify for special programs.
- Address: 5425 Baum Blvd., Pittsburgh, PA 15232
- Phone: (412) 301-5080
- Hours: M - Sat: 9am - 6pm
- Website: mortgagelenderpittsburgh.com
A referral-based mortgage company licensed by the Pennsylvania Department of Banking, Holland Mortgage Advisors has a dozen loan officers available in person and online to help borrowers apply for mortgage lending. The company partners with local and national lending institutions to offer the most competitive rates. The company offers pre-qualification and pre-approval.
- Address: 4640 Campbells Run Road, Pittsburgh, PA 15205
- Phone: (412) 921-5263
- Hours: M - F: 9am - 6pm
- Website: hmamortgage.com
The loan specialists at Reliance First Capital offer customized mortgage solutions for all types of homebuyers, including FHA loans, VA loans and jumbo loans. Refinancing, debt consolidation and reverse mortgage programs are also available. Self-employed buyers or buyers that have a unique property type or bankruptcy may qualify for the company’s Reliance Advantage Program (RAP). Reliance First Capital is a direct lender, which means they can underwrite and fund loans without a broker.
- Address: 681 Andersen Drive, Bldg. 6, Ste. 500, Pittsburgh, PA 15220
- Phone: (877) 735-3545
- Hours: M - F: 8am - 8pm
- Website: reliancefirst.com
The loan specialists at Advocate Mortgage Services help borrowers qualify and obtain a variety of financial products, including FHA, VA and jumbo loans and fixed-rate and adjustable-rate mortgages. Options for refinancing, home equity loans and reverse mortgage loans are also available. On average, loans through Advocate Mortgage Services close within 30 days.
- Address: 950 Greentree Road, Ste. 202, Pittsburgh, PA 15220
- Phone: (412) 921-1300
- Hours: M - F: 8am - 5pm
- Website: advocatemortgageservices.com
Federated Mortgage Corp. offers a variety of options for purchasing and refinancing a home, including fixed-rate and adjustable-rate mortgages and FHA, VA and HARP loans. Additional loan types include 15-year, 30-year and jumbo mortgages. Consumers can apply directly on the company's website, and pre-approval is available to those who qualify.
- Address: 1301 Grandview Ave., Ste. 100, Pittsburgh, PA 15211
- Phone: (877) 533-2784
- Hours: M - F: 8am - 5:30pm
- Website: fedmc.com
Veritas Mortgage Services is an award-winning mortgage broker that offers a variety of mortgage products for first-time homebuyers, those who want to refinance, individuals who are downsizing and consumers with bad credit. Borrowers can apply for loans online, and the company provides free consultations through the company’s website. Required down payments can be as low as 3% for all mortgage loan types.
- Address: 1384 Old Freeport Road, Ste. 3F, Pittsburgh, PA 15238
- Phone: (412) 968-0370
- Hours: M - F: 9am - 6pm
- Website: veritasmortgageservice.com
Sandi Pope previously worked in the nonprofit sector as an advocate for environmental and social change and believes information access is a human right. As a member of the ConsumerAffairs Research Team, she seeks to provide consumers with the necessary information needed in making life-altering decisions.
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