Philadelphia Mortgage Advisors Review 2022
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At a glance
NMLS: 128570
3.9
Bankrate Score
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Find my best matchesLoans offered
Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loansNationwide availability
Available in Delaware, Florida, Maryland, New Jersey, Pennsylvania and VirginiaMin. credit score required
620 for conventional loansPros and cons
Pros
- Offers full digital document submission and online application tracking
- Loan officers and underwriters available to clients during off-hours
- Offers online preapproval letter
Cons
- Limited availability
- Doesn’t publish minimum credit score or down payment requirements
- Clients must work with an advisor to determine lender fees
Philadelphia Mortgage Advisors overview
Philadelphia Mortgage Advisors (PMA) is a team of approximately 20 mortgage advisors licensed in six states: Pennsylvania, Maryland, New Jersey, Delaware, Florida and Virginia. The mortgage lender has been in business since 2007 and its headquarters are located in Plymouth Meeting, Pennsylvania. Qualified borrowers can receive a prequalification after submitting basic financial documentation and a 15-minute phone conversation. Closings on purchases typically take 30 to 45 days.
Good for
Borrowers who prefer a smaller lender with a personal touch, or looking to take advantage of homebuyer assistance programs in New Jersey or Pennsylvania
Loan types
- Conventional
- Jumbo
- FHA
- VA
- USDA
- Fixed-rate
- Adjustable-rate
- Rate-and-term and cash-out refinancing
- Construction and renovation loans
Lender fees
Philadelphia Mortgage Advisors’ lender fees are not listed online. Ask a loan officer about the individual costs associated with your loan to understand the true price tag of buying a home or refinancing an existing mortgage.
Rates
Mortgage rates are not publicly listed on Philadelphia Mortgage Advisors’ website. However, there is a contact form online that can help start the process of connecting with a loan officer to understand rates and fees.
Reputation
Philadelphia Mortgage Advisors isn’t accredited by the Better Business Bureau. On Bankrate, the lender has a near-universal five-star rating from borrowers.
Online services
While the Philadelphia Mortgage Advisors website isn’t overwhelmingly sophisticated, it does include a suite of calculators to compare refinance options and understand potential pros and cons of different types of loans. You can submit a simple contact form with your information, the type of loan you’re looking for and your credit rating to start a conversation with a loan officer. This borrowing experience seems designed for a homebuyer who wants to speak to someone, not someone who is looking for an automated or completely digital process.
Minimum borrower requirements
While you won’t find debt-to-income ratio or other requirements from Philadelphia Mortgage Advisors online, the lender typically follows Fannie Mae guidelines (meaning a 620 minimum FICO score for a conventional loan) and can engage in manual underwriting as needed. Because of this, it is often able to find solutions for borrowers who have unconventional circumstances.
Refinancing with Philadelphia Mortgage Advisors
Philadelphia Mortgage Advisors offers a range of refinance options, including cash-out refinances. Costs vary based on loan size, credit score, loan-to-value ratio and loan type. These costs aren’t available online, and neither are refinance rates. You can start the process by filling out an online form. From there, you will work with a loan officer to get an estimate of upfront fees and your new monthly mortgage payments.
Not sure if Philadelphia Mortgage Advisors is right for you? Consider these alternatives
- Valley National Bank mortgage review: You’ll find a similar suite of loan products here, and if you’re looking at refinancing, the fees are stated upfront.
- Garden State Home Loans mortgage review: Also available in New Jersey and Pennsylvania (plus a few other states), the customer service experience here feels more tech-friendly, with online chat features and instant loan estimates.
- Truist mortgage review: This is a bigger-box option, potentially good for BB&T or SunTrust banking customers seeking a home loan.
- CityWorth Mortgage review: Another smaller-sized lender licensed in Pennsylvania, you’ll get a largely-online experience here, but with some human interaction in the process.
- Renasant Bank mortgage review: If you’re eligible, you can lock your rate instantly with this national lender, but if you’re looking for in-person support, you won’t find branch locations outside the Southeast.
Breakdown of Philadelphia Mortgage Advisors overall review score
- Affordability: 3/5
- Availability: 4.5/5
- Borrower experience: 4.3/5
Review methodology
To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.
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Philadelphia Mortgage Advisors consumer reviews
5.0
168 reviews
Customer service rating
99% of reviews would recommend this lender
9 of 9 rates honored
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Write a review of your experience with Philadelphia Mortgage Advisors.
9 of 9 reviews
The consumer 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.
To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Great experience!!!
Lisa Solakian | Aston, Pa. | 1/21/2021
Working with Maryjo Elliott was amazing, she took so much time and effort to help me and my daughter getting our home, she helped us from start to finish ,so supporting and hopefull and very gave up hope. I would always recommend anyone looking to buy to reach out to her.
Highly Recommend!
Catherine and Michael McShane | Upper Chichester, PA | 1/22/2021
Mary Jo Elliott Gibson was a pleasure to work with during our mortgage process. She was knowledgable and always available to answer all of our many questions. She is a true professional who has so much experience. It was obvious as she walked us through every step of the process and cared for our be...
Best experience with getting a mortgage with Maryjo Elliott
Lisa | Aston, PA | 2/10/2021
Working with Maryjo was amazing she showed such care and support throughout the whole experience. Always updated me and helped me get my house that I loved.
Trustworthy, communicative, and helpful
PMA is the best, look no further! | Philadelphia, PA | 4/7/2021
My wife and I worked with Taylor and PMA on a refinance this year and we couldn't be happier with the experience. Taylor and his team made sure they presented us with multiple options that would work for us, were never pushy, and helped us weed through the complicated legalese and financial document...
Great communication, great rates, super friendly!
Shelly | Philadelphia, PA | 4/7/2021
Taylor is amazing! He just helped us refinance an investment property. We were able to drop our APR by 1.25% *without paying any points* which is saving us $250/month on our mortgage and we even got a few bucks back at closing. I spoke to other banks who said it wasn't even worth trying to refinance...
Very Helpful and Responsive
Vincent Song | Herndon, VA | 4/7/2021
I got my first mortgage and refinance done through PMA. They offered the best rate on my first mortgage and the most flexibility on my refinance. Taylor helped provide a series of options that enabled me to lower my rate with minimal upfront costs. The main mortage advisor was extremely responsi...
Knowledgable and Professional
Excellent communications | Wilmington, DE | 4/8/2021
We had such a good experience working with Taylor and PMA buying our home that he was our first contact when looking to refinance one year later. Taylor got us a great new rate and was able to steer us through the refi process quickly and painlessly. Communication is top notch with him and his team ...
Wonderful experience!!!
Wonderful experience | Delaware county | 5/10/2021
Mary Jo and the Philadelphia Mortgage Advisors are two thumbs up, 10/10, best around. I have worked twice now with Mary Jo and she mad my experience a breeze! Mary Jo and the PMA team worked hard to help me get exactly what I wanted and explained every step in detail along the way. I would recommend...
You really will return to Mary Jo for every mortgage you need
Julie CJ | 19390 | 7/13/2021
In 2014 I worked with Mary Jo for the first time. I appreciated that she knew the mortgage number I wanted to stick with and helped me figure out how to afford the townhouse we ended up purchasing. Fast forward to 2021 and it was time to sell the first townhouse and buy our forever home. It was a no...