Mortgage Loan Programs in Pennsylvania

Choosing a mortgage isn't just about finding the lowest interest rate. The right loan should have terms that fit your financial situation, homeownership goals, and long-term plans.

Whether you're buying your first home or your forever home, BMC Keystone will help you choose the financing solution that's right for you.

As an independent Pennsylvania mortgage broker, we aren't limited to a single bank or lending institution. Instead, we compare loan programs from a network of trusted wholesale lenders, giving you access to competitive wholesale rates, flexible financing options, and expert guidance throughout the mortgage process.

Every mortgage program has its own features, benefits, qualification requirements, and limitations. Some are ideal for first-time homebuyers, while others are better suited for veterans, rural properties, vacation homes, or higher-value purchases.

Rather than trying to navigate all those options on your own, BMC Keystone will compare the available loan programs, explain the advantages of each, and recommend the financing solution that best fits your financial goals.

Which Mortgage Is Right For You?

The answer isn't the same for everyone. Your credit profile, down payment, income, property type, and long-term goals all influence which mortgage program may be the best fit.

The overview below introduces some of the most common financing options. During your consultation, we'll compare the available loan programs, explain the advantages of each, and recommend the financing solution that best supports your goals.

HOME PURCHASE LOANS:

Whether you're purchasing your first home, your forever home, a vacation property, or building a new house, these loan programs are designed to help you achieve your homeownership goals.

Conventional Loans

A popular choice for buyers with established credit and a stable financial profile. Conventional loans offer flexible terms and down payment options, making them an excellent fit for many homebuyers.

Often a good fit if you: Have good credit, steady income, and are looking for competitive financing with flexible terms.

Learn more about Conventional Loans →

FHA Loans

FHA loans were created to make homeownership more accessible. They offer more flexible qualification requirements and lower down payment options, making them especially popular with many first-time buyers.

Often a good fit if you: Have limited savings for a down payment or are working to establish your credit.

Learn more about FHA Loans →

VA Loans

Available to eligible veterans, active-duty service members, and qualifying surviving spouses, VA loans provide valuable benefits, including no down payment for many qualified borrowers.

Often a good fit if you: Have earned VA loan eligibility through military service.

Learn more about VA Loans →

USDA Loans

USDA loans help eligible buyers purchase homes in qualifying rural and suburban communities, often with little or no down payment.

Often a good fit if you: Are purchasing a home in an eligible rural area and meet income requirements.

Jumbo Loans

When purchasing a higher-priced home that exceeds conventional loan limits, a jumbo loan may provide the financing you need.

Often a good fit if you: Are buying a luxury or high-value property that requires financing above conforming loan limits.

New Construction Loans

Building a home involves different financing than purchasing an existing property. Construction loans are designed to fund the building process before converting to permanent financing.

Often a good fit if you: Are building a custom home or purchasing new construction from a builder.

Vacation & Second Home Financing

Whether you're dreaming of a lake house in the Poconos or a weekend getaway down the shore, financing a second home comes with different qualification requirements than purchasing your primary residence.

Often a good fit if you: Are purchasing a second home for your personal use.

Learn more about Second Home Loans →

HOME BUYER PROGRAMS:

Depending on your financial situation and the property you're purchasing, you may qualify for programs and financing options that reduce upfront costs, simplify the loan process, or make homeownership more affordable.

BorrowSmart® Mortgage Program

Eligible first-time homebuyers may qualify for a lender credit that can be used toward down payment or closing costs, helping reduce the cash needed to purchase a home.

Often a good fit if you: Are a first-time homebuyer looking to reduce your upfront costs.

Learn more about the BorrowSmart Mortgage Program →

Pennsylvania Homebuyer Advantage Program

Eligible homebuyers may qualify for assistance with down payments and closing costs through Pennsylvania homebuyer assistance programs. We'll help you determine whether these programs are available and whether they're a good fit for your financing goals.

Learn more about the Homebuyer Advantage Program →

Appraisal Waivers

In certain situations, eligible borrowers purchasing or refinancing a home may qualify for an appraisal waiver through automated underwriting. When available, an appraisal waiver can save time, reduce closing costs, and help streamline the loan process.

Not every property or borrower qualifies, but we'll let you know if this option is available.

Learn more about the Fannie Mae Appraisal Waiver →

INVESTMENT PROPERTY FINANCING:

Whether you're purchasing your first rental property or expanding your investment portfolio, BMC Keystone offers financing solutions designed specifically for real estate investors.

DSCR Loans

Debt Service Coverage Ratio (DSCR) loans qualify primarily on the property's ability to generate rental income rather than the borrower's personal income.

Often a good fit if you: Are purchasing or refinancing an income-producing investment property.

Learn more about DSCR Loans →

HOMEOWNER SOLUTIONS:

Some loan programs help homeowners improve their property, access equity, or better manage their finances.

Renovation Loans

Finance eligible home improvements as part of your mortgage, whether you're purchasing a fixer-upper or renovating your current home.

Often a good fit if you: Want to renovate or modernize a property without obtaining separate financing.

Learn more about Renovation Loans →

Reverse Mortgages

Available to eligible homeowners age 62 and older, reverse mortgages allow you to convert a portion of your home's equity into available funds while continuing to live in your home.

Often a good fit if you: Want to supplement retirement income or access home equity while remaining in your home.

Learn more about Reverse Mortgages →

MORTGAGE OPTIONS & FEATURES:

Choosing the right loan program is only part of the equation. Depending on your financial goals, there may be additional financing options and features available to help make your mortgage more affordable or better suited to your needs.

Mortgage Rate Buydowns

A mortgage rate buydown allows borrowers to reduce their interest rate by paying discount points at closing or, in some cases, through seller concessions negotiated as part of the purchase contract.

Often a good fit if you: Plan to stay in your home for many years or are negotiating seller concessions as part of your purchase.

Learn more about Mortgage Buy Downs →

Adjustable-Rate Mortgages (ARMs)

An ARM typically offers a lower introductory interest rate for a fixed period before adjusting according to market conditions.

Often a good fit if you: Expect to move, refinance, or pay off your mortgage before the introductory fixed-rate period expires.

Learn more about Adjustable-Rate Mortgages →

Loan Program	Often Best For	Key Benefit
Conventional Loans	Buyers with good credit and steady income	Flexible terms and competitive financing options
FHA Loans	First-time buyers or borrowers with limited down payment savings	Flexible qualification requirements
VA Loans	Eligible veterans, active-duty service members, and qualifying surviving spouses	No down payment for many qualified borrowers
USDA Loans	Eligible buyers purchasing in qualifying rural or suburban areas	Little or no down payment for many qualified borrowers
Jumbo Loans	Buyers purchasing higher-value homes	Financing above conventional loan limits
New Construction Loans	Buyers building a custom home or purchasing new construction	Financing designed for the construction process
Vacation & Second Home Financing	Buyers purchasing a second home for personal use	Financing for vacation homes, lake houses, and seasonal properties