Financing · Northeast Pennsylvania
Know your numbers
before you fall in love.
Run your payment, budget and cash to close in seconds. Then let us connect you with a trusted local lender who can get you pre-approved, often in a day, so your offer is ready the moment you find the one.
national average
national average
loan limit
most NEPA counties
Freddie Mac Primary Mortgage Market Survey, Oct 1, 2026 · FHFA · HUD. Rates are national averages, not a quote.
Revolve financing calculators
Four calculators. Real NEPA numbers.
Built for Pennsylvania, with PMI, local transfer tax rates and investor math included. Change any number and your results update instantly.
Under 20% down? We add estimated PMI at 0.5% of the loan per year. Property taxes vary widely by municipality and school district in NEPA, so check the listing or ask us for the exact figure.
Estimated monthly payment
$2,912/ mo
Principal & interest$2,155Property taxes$500Homeowners insurance$125PMI (estimated)$131HOA$0- Loan amount$315,000
- Down payment$35,000
- Total interest over the loan$460,897
Monthly debts include car loans, student loans, credit card minimums and child support. Leave out rent, utilities and phone bills. 2.2% is a typical NEPA starting point for taxes plus insurance.
What you may be able to afford
Comfortable
$267,75228% / 36% of income · about $2,217/moStretch
$293,87331% / 43% of income · about $2,454/mo"Comfortable" follows the classic 28/36 guideline: housing costs up to 28% of gross monthly income and all debts up to 36%. Many programs, including FHA, allow higher ratios. A lender pre-approval is the only way to know your real number.
PA realty transfer tax is usually 2% (1% state, 1% local), split evenly between buyer and seller. Prepaids estimate 3 months of tax escrow plus the first year of insurance. Ask us about seller concessions and PHFA help with closing costs.
Estimated cash to close
$47,800
Down payment$35,000Your transfer tax share$3,500Lender & title fees (est.)$6,300Prepaids & escrows (est.)$3,000- Total transfer tax rate2.00%
Estimates only. Your lender's Loan Estimate and the title company's settlement figures will be exact.
Other costs cover owner-paid utilities, trash, lawn and snow. Management, vacancy and reserves are a percentage of rent. Investment loans often need 20–25% down and carry slightly higher rates.
Monthly cash flow
$143/ mo
Net operating income / yr$16,224Cap rate7.21%Cash-on-cash return2.7%DSCR (NOI ÷ debt service)1.12- Principal & interest / mo$1,209
Cash-on-cash assumes about 3% in closing costs. Many DSCR lenders look for 1.0–1.25 or higher.
Calculators provide estimates for education only and are not a loan offer, rate quote or commitment to lend. Your lender will give you exact figures.
Loan programs
There's a loan for every move.
You don't need 20% down. Here are the programs NEPA buyers use most, and who they're best for.
3–5%
Minimum down
Conventional
The most common loan. PMI applies under 20% down and can be removed as you build equity. Up to $832,750 in 2026.
Good credit · most buyers
3.5%
Minimum down
FHA
Flexible credit guidelines and lower down payments, insured by the Federal Housing Administration. Up to $541,287 in most NEPA counties.
First-time buyers · rebuilding credit
0%
Down payment
VA
For eligible veterans, service members and surviving spouses. No down payment and no monthly mortgage insurance.
Veterans & military families
0%
Down payment
USDA
No money down in eligible rural and suburban areas. Much of NEPA outside the Scranton–Wilkes-Barre I-81 corridor can qualify.
Rural & small-town homes
10%+
Typical down
Jumbo
For loans above the conforming limit, such as lakefront, estate and luxury homes like Nalla Lake.
Luxury & lakefront
5–20%
Typical down
Construction
Build new or buy into a new construction community like Stauffer Pointe or Skyline Estates, often with one closing.
New construction & land
20–25%
Typical down
Investment & DSCR
DSCR loans qualify on the property's rent instead of your personal income. Great for growing a rental portfolio.
Investors · BRRRR
PHFA
State programs
Pennsylvania assistance
Lower-cost loans plus down payment and closing cost help for qualified Pennsylvania buyers. See below.
Pennsylvania Housing Finance Agency
Help with your down payment is out there.
PHFA offers Pennsylvania buyers lower-cost first mortgages and assistance with down payment and closing costs. Most programs require a 660+ credit score and no more than $50,000 in liquid assets after closing.
K-FIT
Keystone Forgivable in Ten Years: 5% of the price or appraised value, with no dollar cap, for down payment and closing costs. 10% is forgiven each year. Paired with the Keystone Home Loan.
Keystone Advantage
A 0% interest second mortgage repaid over 10 years, for down payment and closing costs. Works with HFA Preferred, Keystone Government or Keystone Home loans.
PHFA Grant
A $500 grant toward down payment and closing costs with the HFA Preferred loan. It can be combined with Keystone Advantage.
Program terms per PHFA.org and subject to change and lender approval.
The home loan process
From pre-approval to keys.
The process can feel overwhelming the first time. Your Revolve agent and lender keep you informed at every step.
Have these ready
- Two years of W-2s or 1099s
- 30 days of pay stubs
- Two years of federal tax returns
- Two months of bank statements
- Photo ID
- Gift letter, if family is helping
Get pre-approved
Your lender reviews your income, assets, debts and credit to set a loan amount for the programs that fit you. Sellers expect to see it with your offer.
Shop & make an offer
Shop with confidence inside your budget. Your financing contingency protects you while the loan comes together.
Application & processing
Once you're under contract, you'll complete the full application and lock your rate. The appraisal and title search are ordered.
Underwriting
An underwriter verifies everything. Answer document requests quickly, and don't open new credit or change jobs until closing.
Clear to close & keys
Set up homeowners insurance, review your Closing Disclosure, do your final walkthrough and sign. The loan is recorded and the keys are yours.
Pennsylvania closing costs
No surprises at the closing table.
Pennsylvania charges a realty transfer tax when a home sells, usually 2% of the price, split evenly between buyer and seller. A few NEPA cities charge more, and it adds up fast.
| Municipality | Total rate |
|---|---|
| Most NEPA municipalities | 2% |
| Kingston Borough | 2.5% |
| Pittston City | 3.25% |
| City of Wilkes-Barre | 3.5% |
| City of Scranton | 3.7% |
Rates per Pennsylvania Department of Revenue and ALT Title, for transactions on or after July 1, 2025. Always confirm with your title company.
Buyers typically pay
- Down payment
- Half the transfer tax
- Lender fees and any points
- Appraisal and inspections
- Title insurance and settlement fees
- Prepaid taxes, insurance and escrows
Sellers typically pay
- Half the transfer tax
- Brokerage commission
- Mortgage payoff and lien releases
- Prorated property taxes
- Agreed seller concessions
- Deed preparation
Our preferred lending partner
A local lender who answers.
Whitehall Mortgage · NMLS# 112289
Douglas Pinnell
Owner & Loan Officer
A personable, reliable and quick local loan brokerage that shops great rates from many lenders on residential mortgages, investment and DSCR loans, commercial, and fix-and-flip financing. Whitehall can also lend in Florida.
You're always free to choose any lender. We're happy to connect you with several so you can compare.
Financing questions
Straight answers to common questions.
How much do I really need for a down payment?
Often far less than 20%. Conventional loans start at 3–5% down, FHA at 3.5%, and VA and USDA can be 0%. PHFA programs can help cover the down payment and closing costs too.
What's the difference between pre-qualified and pre-approved?
Pre-qualification is a quick estimate based on what you tell a lender. Pre-approval means the lender has checked your credit, income and assets. Sellers take pre-approved offers much more seriously.
What credit score do I need?
It depends on the program. FHA is the most flexible, conventional loans usually want stronger credit, and most PHFA assistance requires 660 or higher. A lender can show you how to raise your score before you apply.
What is PMI, and can I get rid of it?
Private mortgage insurance protects the lender when you put less than 20% down on a conventional loan. You can usually ask to remove it once you reach 20% equity, and it drops off automatically at 22%.
When should I lock my rate?
Usually once you're under contract. Your lender will explain lock periods and costs, so you're protected if rates rise before closing.
Can I buy my next home before I sell?
Often, yes. Bridge loans, HELOCs and sale-contingent offers can help. We'll coordinate your sale and purchase so the timing works. See how we sell
I'm an investor. Can I qualify on the property's rent?
Yes. DSCR loans qualify on the property's rental income instead of your personal income. Try the investment calculator above, then browse investment properties.
Keep reading
Understanding the financing contingency I'm under contract. Now what? Your first home doesn't need to be perfect 10 things to know before you make an offer Investor tax document checklist Why Scranton is great for BRRRR investingReady to start?
Pre-approved today. Home this season.
Tell us what you're looking for. We'll connect you with the right lender, set your budget and start sending homes that fit.
