Best Pennsylvania Mortgage Lenders of 2023

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The average mortgage rate in Pennsylvania is currently 7.04% for a 30-year fixed loan term and 6.48% for a 15-year fixed loan term.

These are the interest rates offered to Pennsylvania residents looking to buy or refinance a home as of 06/28/2023.

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The 30-year fixed mortgage rate reached a new peak of 7.39% this week, eclipsing the previous record of 7.33% set last November. Most fixed and adjustable mortgage rates continued to march higher on the heels of recent employment and inflation reports, which highlight resilient U.S. economic conditions.


Mortgage interest rates are widely expected to fall through 2023 but have remained elevated during the first half of the year. Here are the current mortgage rates, without discount points unless otherwise noted, as of July 13:

  • 30-year fixed: 7.39% (up from 7.26% a week ago).
  • 20-year fixed: 7.44% (up from 7.32% a week ago).
  • 15-year fixed: 6.68% (up from 6.61% a week ago).
  • 10-year fixed: 6.73% (down from 6.79% a week ago).
  • 5/1 ARM: 6.23% (up from 6.12% a week ago).
  • 7/1 ARM: 6.46% (up from 6.25% a week ago).
  • 10/1 ARM: 6.61% (up from 6.5% a week ago).
  • 30-year jumbo loans: 7.43% (up from 7.31% a week ago).
  • 30-year FHA loans: 6.61% with 0.05 point (up from 6.51% a week ago).
  • VA purchase loans: 6.78% with 0.05 point (up from 6.69% a week ago).


Pennsylvania homebuyers can get help with down payments and closing costs as well as reduced interest rates, lower fees and tax credits with these Pennsylvania Housing Finance Agency programs.

  • Available to: Eligible Pennsylvania homebuyers.
  • Income limits: Vary by county (see PHFA income limits).
  • First-time homebuyers only? No.
  • Loan options: 30-year fixed-rate mortgages.
  • Benefits: Provides access to low-cost mortgage insurance and a $300 credit toward closing costs if you have prepurchase counseling.

  • Available to: First-time homebuyers, or military veterans and homebuyers purchasing in a targeted county (indicated with a “T” in the program’s purchase price and income limits).
  • Income limits: Vary by county.
  • First-time homebuyers only? No.
  • Benefits: Conventional loans are insured by the Pennsylvania Housing Insurance Fund. It also allows you to qualify for down payment assistance.

  • Available to: Homebuyers with a qualifying PHFA home purchase loan.
  • Income limits: Vary by county.
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: Grants a no-interest second mortgage of up to 4% of the purchase price or market value, or $6,000, whichever is less. The loan is repaid over 10 years.

  • Available to: First-time homebuyers, or military veterans and homebuyers purchasing in a targeted county (indicated with a “T” in the program’s purchase price and income limits).
  • Income limits: Vary by county.
  • First-time homebuyers only? No.
  • Assistance: Provides a tax credit of 20% to 50% of mortgage interest paid, with a $2,000 annual limit.

  • Available to: Homebuyers with a disability (or a disabled household member) who qualify for a PHFA mortgage loan.
  • Income limits: Vary by county.
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: Offers an interest-free loan of up to $10,000 that borrowers can use to make modifications to meet the needs of the person with a physical disability. Payment is deferred until sale, transfer or nonowner occupancy of the property. Participants may also qualify for down payment and closing cost assistance of up to $15,000 through the Access Downpayment and Closing Cost Assistance Program.

  • Available to: Pennsylvania homebuyers purchasing a home in an eligible city or county through the HOMEstead program.
  • Income limits: Vary by county (see HOMEstead Program income limits).
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: Provides a no-interest second mortgage loan of up to $10,000, which is forgiven over five years.

  • Available to: Low- to moderate-income employees of participating employers.
  • Income limits: Vary by county (see HOMEstead Program income limits).
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: Workers can receive assistance through their employers, which doesn’t require a PHFA loan. But homebuyers who choose a PHFA loan can get an interest-free Keystone Advantage Assistance Loan of up to $8,000 for down payment and closing cost assistance that is repaid over 10 years.

U.S. News selects the Best Loan Companies by evaluating affordability, borrower eligibility criteria and customer service. Those with the highest overall scores are considered the best lenders.

To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.

The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.

To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.

To recap, here are the picks:

Best Pennsylvania Mortgage Lenders of 2023

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