Pennsylvania Mortgage and Refinance Rates

As of Thursday, October 28, 2021, current rates in Pennsylvania are 3.21% for a 30-year fixed, 2.51% for a 15-year fixed, and 2.58% for a 5/1 adjustable-rate mortgage (ARM).

We’ll help you find Pennsylvania mortgage and refinance rates well below the national average so you can apply and start saving on your home today.

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Pennsylvania mortgage overview

By Dhara Singh

Median home values in Pennsylvania are 30 percent lower compared to the national median, making homes more affordable to people who no longer want to rent and are ready to purchase a house. The programs in the state not only assist with the down payment, but also help fund closing costs to make it more affordable for people to buy their first home.

The state also has programs for current homeowners who are looking to buy another home, such as upgrading to a larger one or in a different neighborhood.

The Pennsylvania Housing Finance Agency (PHFA) works with brokers and lenders to offer and process mortgages with low fees and affordable interest rates. The loans are purchased by the PHFA after closing, and the homeowner makes monthly payments directly to the agency.

Top 5 Bankrate mortgage lenders in Pennsylvania

  • – Best overall
  • Garden State Home Loans – Best non-bank lender
  • Cardinal Financial Company – Best for jumbo loans
  • Lower – Best for first-time homebuyers
  • AmeriSave Mortgage Corporation – Best for refinancing


Bankrate helps thousands of borrowers find mortgage and refinance lenders every day. To determine the top mortgage lenders, we analyzed proprietary data across more than 150 lenders to assess which on our platform received the most inquiries within a three-month period. We then assigned superlatives based on factors such as fees, products offered, convenience and other criteria. These top lenders are updated regularly. - Best overall

With super-fast preapprovals and closings (three minutes and 21 days on average, respectively), saves you time. More importantly, it saves you money. There are no fees for application, underwriting or origination. Plus, you can easily compare rates online without the need to share any personal information.

Strengths: No fees; convenient online application process; fast closing time

Weaknesses: No VA or USDA loans; doesn’t offer full e-closings; higher credit score (620) required for FHA mortgages

Read Bankrate's mortgage review

Garden State Home Loans – Best non-bank lender

Since Garden State Home Loans doesn’t have a large network of banks and offices, the lender is able to minimize the fees it charges for mortgages. With an A+ rating from the Better Business Bureau, the lender prides itself on exceptional customer service, which includes the ability to chat with loan officers online.

Strengths: Closings in around 30 days; positive reviews from past customers; smaller operation, which might lead to more personalized service

Weaknesses: Rates and specific fees not listed online; higher credit score requirement of 640 for majority of loan programs

Read Bankrate's Garden State Home Loans review

Cardinal Financial Company – Best for jumbo loans

A credit score as low as 660 can put you on a path toward securing a loan up to $2 million with Cardinal Financial Company, and the oversized loans are available for investment properties. If you’re on a tight timeline, this is an especially good pick: Some borrowers have been able to close in just seven days.

Strengths: Loans up to $2 million; e-signing option; quick closings

Weaknesses: Fees not disclosed online; must request a rate quote

Read Bankrate's Cardinal Financial mortgage review

Lower – Best for first-time homebuyers

One of the most daunting steps in buying your first home is coming up with the upfront payment, but Lower can help make that big sum a bit more attainable: Its HomeCash program matches your savings up to $500, and all the money goes toward the amount you owe at closing.

Strengths: Fully online process; down payment savings matching; all refinancing fees waived if you ever refinance your mortgage

Weaknesses: Not accredited by the Better Business Bureau

Read Bankrate's Lower mortgage review

AmeriSave Mortgage Corporation – Best for refinancing

When you’re refinancing your mortgage, every day counts: The sooner you can lock in a lower interest rate, the sooner you can reduce your monthly payments. AmeriSave Mortgage Corporation boasts lightning-quick closings for refinancing that happen in days, not weeks.

Strengths: Refi closings can happen in a few days; can chat online with loan officers

Weaknesses: Minimal information about rates available online; no in-person locations

Read Bankrate's AmeriSave Mortgage Corporation review

First-time homebuyer programs in Pennsylvania

The Keystone State offers many first-time homebuyer programs to encourage people to buy their first house, condo or townhome. Learn more about Pennsylvania first-time homebuyer programs.

Through the PHFA, homebuyers can obtain a 30-year, fixed-rate mortgage that has a more affordable interest rate and fewer fees. The loans include conventional mortgages, VA loans, FHA loans or USDA rural development loans. The household income and limits on home prices vary with each program:

  • HFA Preferred (Lo MI) loan, which helps homebuyers with lower down payments obtain cheaper private mortgage insurance (PMI). When homebuyers do not have 20 percent for the down payment, lenders require PMI. The program is open to all homebuyers and there are no purchase price limits. Consumers must contribute at least $1,000 toward the down payment.
  • Keystone Home loan program serves first-time homebuyers, discharged veterans of the armed forces and buyers of homes in targeted Pennsylvania counties for conventional mortgages, VA loans, FHA loans or USDA loans. Each type of loan has different requirements.
  • Keystone Government works with mortgage lenders and brokers to provide homebuyers with affordable mortgages in the form of FHA loans, VA loans or USDA loans. You don’t have to be a first-time homebuyer to apply for this program.

Pennsylvania mortgage refinancing

With interest rates at historic lows, you may be able to lower your monthly payment and save thousands by refinancing your loan to a lower rate. You can use Bankrate’s mortgage refinance calculator to see how much you can save.

Pennsylvania mortgage resources