Home Loans and Residential Mortgages in Pennsylvania
Mortgages Made Simple
For most people, a home is the biggest purchase they will ever make – and one of the most complex. Whether you are a first-time home buyer or moving into a new home, working with the right mortgage lender can make the process seamless, efficient, and simple.
At Columbia Bank, we do everything we can to make the process of getting Pennsylvania mortgages as simple as possible. You can begin the process by applying online and check the status of your application using our easy online system at any time.
It is important to explore your mortgage options before beginning the home buying process. As a leading mortgage lender, Columbia Bank and their mortgage experts will help you find the perfect loan to fit your short-term and long-term needs, subject to credit approval. These include:
Fixed-rate mortgages. With a fixed rate mortgage, you pay the same interest rate for the life of the loan. A fixed rate loan is ideal for when you plan to live in your home for a long time, you want the security of predictable monthly payments, or you want to take advantage of low interest rates.
Adjustable rate mortgages (ARM.) An Adjustable Rate Mortgage offers competitively low interest rates for a fixed term. The rate could change in the future based on market conditions and Pennsylvania mortgage rates, meaning that your payments could increase significantly down the road. However, if you don’t plan on living in the home for a long time, an ARM might be the best option for your needs.
As you explore your options, it is also time to find out how much you can afford. Ideally, you should have at least 15-20 percent of the home price available for a down payment, but there are loan programs for buyers who don’t have a substantial down payment. In some cases, qualified buyers may be able to secure a loan with as little as 3.5 percent down. Keep in mind, though, that the higher the down payment, the lower your monthly payments. In addition, some lenders require buyers to secure private mortgage insurance (PMI) if they opt for a smaller down payment.
As you begin looking for your perfect Pennsylvania home, we have a simple 24 hour pre-approval process to help simplify your loan processing and allow you to make more competitive offers. Columbia Bank also offers a 75-day rate lock guarantee, so you don’t need to worry about interest rate increases after you have found your dream home.*
After you submit your pre-approval application, our trained team of mortgage experts will get to work finding the right mortgage product for your needs and walk you through the approval process. You can speed up the process by providing all requested information and documentation on time. Once we have all of your information and you’re approved for the loan, we can usually have a closing date for you quickly.
Columbia Bank is registered with the National Mortgage Licensing System and Registry as required by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (Safe Act).
You have found your home and you are ready to apply for a mortgage loan. As a leading mortgage lender, Columbia Bank is proud to offer an array of sound mortgage products and financing programs. Before you begin our online application, you can take steps to help ensure the process goes as quickly as possible.
- Review your credit report and know your score. Columbia Bank offers products for a wide range of credit scores, but the higher your score, the better your interest rate and the lower your payments. Before applying for a mortgage, check your report for errors, and take steps to address negative information.
- Gather documentation of your income, assets, and debt. This includes pay stubs, bank statements, investment statements, and bills.
- Delay any major purchases. Now is not the time to buy a new car or open any new credit cards.
Congratulations! You have made an offer and it's time to begin closing on your loan! At Columbia Bank, we are committed to closing your loan in 60 days guaranteed or we'll give you $300.** We make the process fast & easy, so you can focus on moving into your new home sooner.
Ready to take the next step?
*Offer subject to credit approval.
*All residential mortgage loans are subject to approval in accordance with Columbia Bank’s lending policies. *Columbia Bank’s “Fast Track” preapproval program typically provides a decision within 24 hours or on the next business day for weekends and holidays. This preapproval program is valid for 90 days and is available to borrowers who are not self-employed, are not a business owner and do not own any investment property. The applicant must write in “TBD” on their application in order to be eligible for a Fast Track preapproval which is available for purchase mortgages only.**If your Pennsylvania residential mortgage loan does not close within 60 days or less (including weekends and holidays) of your signed intent to proceed, due to no fault of Columbia Bank, you will receive a $300 VISA® Gift Card at time of loan closing. Offer valid for purchase transactions only.Gift card value will be reported to the Internal Revenue Service (IS) and a 1099-INT will be issued. For current rates, fees and restrictions, please contact Columbia Bank at (800) 962-4989 or visit ColumbiaBankOnline.com for further details. Offer subject to change without notice. NMLS# 504284.
** If your New Jersey or Pennsylvania residential mortgage loan does not close within 60 days or less (including weekends and holidays) of your signed intent to proceed, due to no fault of Columbia Bank, you will receive a $300 VISA® Gift Card at time of loan closing. Offer valid for purchase transaction only. Gift card value will be reported to the Internal Revenue Service (IRS) and a 1099-MISC will be issued. For current rates and restrictions, please contact Columbia Bank at (800) 962-4989 for further details. This offer may be withdrawn or modified at any time. Offers subject to change without notice. NMLS#504284