Philadelphia Mortgage Advisors Mortgage Review 2020

By Jennifer Bradley Franklin

About our reviews

Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

Philadelphia Mortgage Advisors

Bankrate Score

  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

4.0

User reviews
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
( 153 )

5.0

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

Philadelphia Mortgage Advisors is an independent mortgage lender licensed in Delaware, Florida, Maryland, New Jersey, Pennsylvania and Virginia. The company handles a variety of residential mortgages, with in-house processing, underwriting and closing services. Because the company maintains offices only in New Jersey and Pennsylvania, much of its operations are handled virtually and by phone. Philadelphia Mortgage Advisors was founded in 2007 and maintains its headquarters in Plymouth Meeting, Pennsylvania. The company was affiliated with Fox Chase Bank, a Philadelphia-based bank established in 1868, before the bank was acquired by Univest Corp. of Pennsylvania in 2016.

Nationwide availability

Available in Delaware, Florida, Maryland, New Jersey, Pennsylvania and Virginia

Minimum credit score

Philadelphia Mortgage Advisors does not disclose minimum credit score information. Clients must work with a loan officer to determine whether they qualify.

Loan types

Conventional, jumbo, fixed, adjustable (ARM), FHA, VA, USDA, renovation loans and second mortgages; refinancing options include cash-out refinancing and no-cash out refinancing; home equity lines of credit (HELOCs) and home equity loans

Pros

  • Offers full digital document submission and online application tracking
  • Offers renovation loans with down payments as low as 3.5 percent
  • Loan officers and underwriters service their clients during off-hours, answering questions via text and mobile phone
  • Offers online pre-approval letter

Cons

  • Limited availability: Mortgages only offered in Delaware, Florida, Maryland, New Jersey, Pennsylvania and Virginia
  • Doesn’t publish minimum credit score or down payment requirements
  • Clients must work with an advisor to determine lender fees

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

Philadelphia Mortgage Advisors overview

Loan types

  • Conventional
  • Jumbo
  • Fixed
  • Adjustable (ARM)
  • FHA
  • VA
  • USDA
  • Renovation loans
  • Second mortgages
  • Refinancing including cash-out refinancing and no-cash out refinancing
  • Home equity lines of credit (HELOCs) and home equity loans

Lender fees

Philadelphia Mortgage Advisors does charge lender fees; however, the lender doesn’t disclose these fees to the media or on their website. Lender fees vary by loan product. Clients must work with a loan officer to discuss specific loan products and the fees associated with them.

Minimum borrower requirements

For federally insured loans, Philadelphia Mortgage Advisors follows Fannie Mae and Freddie Mac’s underwriting guidelines. However, the company doesn’t post its minimum borrower requirements online. A company representative declined to comment on the maximum debt-to-income ratio (DTI), minimum down payments and other factors related to qualifying for loans through the lender.

The company does engage in manual underwriting as needed, so mortgage advisors are often able to find solutions for those borrowers who have unconventional circumstances.

“We have many programs and relationships with regional banks that help us find solutions where other (especially large) lenders cannot,” says Norm Handwerk, the lender’s VP of marketing and communications.

Philadelphia Mortgage Advisors is an approved lender for the PHFA and NJHMFA programs, in Pennsylvania and New Jersey, respectively. Both state housing finance agencies offer first-time homebuyer programs.

Get started with Philadelphia Mortgage Advisors

Borrowers can apply in person, online or by phone. If you apply online, a representative will contact you.

Hours

Monday - Friday: 8:30 a.m. - 5 p.m. EST Saturday and Sunday: Closed

Philadelphia Mortgage Advisors consumer rating and reviews

5.0 reviews
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

99% recommended

Customer Service Rating

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
0 out of 0 rates honored
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
(153 reviews)
5 Star
4 Star
3 Star
2 Star
1 Star
152
1
0
0
0

The reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

Arrow icon
Showing 10 of 12 Reviews
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Vimal
Ellicott city MD

10/17/2019

Exceptional Service

The whole was very smooth and Taylor was very responsive and helpful. No hiccups and no surprises .

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Don & Sandy
Roanoke Va

10/17/2019

Enjoyable and Professional Service

When my wife and I decided to refinance our mortgage, we chose PMA after our normal due diligence. Luckily, we had the good fortune to work with Taylor Runyen and his associates. The experience was excellent, prompt, and very very professional. We were so blessed to have discovered PMA and certainly...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

JK
Media Pa

10/17/2019

Efficient

Taylor Runyen did a terrific job. Expenses were kept to a minimum and terms and conditions stayed as promised. The best part was the efficiency of the process. This was, by far, the smoothest mortgage situation I have ever encountered. Thanks to PMA and Taylor, you are to be commended for your p...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Daniel
Wilmington DE

10/18/2019

Happy first time home buyers

Working with Taylor Runyen and PMA was an excellent experience for our first home purchase. I was very impressed with Taylor especially. His responsiveness, professionalism, depth of knowledge, and attention to detail for the process made everything seem easy on our end. It also helped that PMA's ra...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Jeff
Chester County, PA

10/24/2019

Very Helpful and Professional = Very Happy

PMA, and specifically Taylor Runyen, made the process headache-free. Due dates were communicated to me well ahead of time so there were no major surprises. They were patient, answered all of my questions, and friendly the entire time. Taylor even drafted up a last-minute pre-qualification letter ...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Theresa
PA

10/30/2019

Professional and Honest Mary Jo Elliott Gibson

Once again Mary Jo Elliott Gibson has far exceeded my expectations. My fourth mortgage that Mary Jo has handled for me and third house. I would recommend Mary Jo over and over.

Knowledge
5.0
Level of service
4.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Becky
DE

1/2/2020

Great experience and best rate

Working with Taylor Runyen and PMA was an excellent experience for my property refinance. They are professional, response quickly and provide me the best rate.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Nate Burton
MD

1/2/2020

Easy, no stress mortgage process

I worked with Taylor Runyen at PMA and got a great rate. From the very beginning, when I was simply rate shopping mortgage rates, to the end at closing Taylor was very easy to deal with and responded very promptly. He didn't pressure or rush me through the process as other companies did when I was ...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Yihang
Newark, DE

1/6/2020

Great experience with Taylor Runyen of PMA

We are so glad that we choose PMA for our mortgage refinancing . The whole process was very smooth and straightforward! Especially thank Taylor Runyen who is our agent of PMA. He is super patient with each of our questions, fast response, simple and understandable answers. I would highly recommend ...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Jay
Staunton, VA

1/20/2020

Wonderful experience with Taylor Runyen and PMA

This was a smooth process from start to finish. We had a short closing date, and Taylor assured us that PMA could hit our date. I had my doubts, but everything went as fast and smooth as it could have. They were responsive to feedback, patient when I would ask dumb questions, and always kind and eff...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes