Entertaining the idea of purchasing a home in Scranton, PA? Scranton is a desirable place to live and is located at the foothills of the Poconos Mountains. Many of the Northeast's finest ski slopes are nearby. Scranton has a diverse economy, community involvement, and many cultural attractions.
Scranton is a sports enthusiast’s dream. Professional baseball is represented by the Scranton/Wilkes-Barre Red Barons, an affiliate of the Philadelphia Phillies. 72 home games are played in Scranton each season. Racing fans can visit Pocono International Raceway, located 30 minutes from downtown Scranton. Horse racing is featured at Pocono Downs in nearby Luzerne County. The Wilkes-Barr/Scranton Penguins, the American Hockey League affiliate of the Pittsburgh Penguins, play at the First Union Arena at Casey Plaza. The Scranton Eagles play semi-pro football games in the Empire Football League, and the University of Scranton's sports teams compete in the NCAA Division III.
The Wilkes-Barre/Scranton International Airport is located south of Scranton. A multi-million dollar transportation center is being built downtown to service rail passengers. Bus transportation is provided by the County of Lackawanna Transit System.
The Scranton metropolitan educational system is considered to be among the best in the country. Average class sizes are small with an average graduating class size of 187. Scranton, known as the world's center of education by mail, is home to Education Direct, one of the oldest and largest distance learning institutions in the world. The University of Scranton, a Jesuit institution, serves approximately 4,800 students. Marywood University, a Catholic co-ed institution, offers programs in the arts, sciences, fine arts, social work, nursing, and music. Scranton is also home to a technical school and a junior college.
Where Do I Start?
Many loan options are available to first time buyers. With the assistance of an experienced mortgage broker you can understand these loan options. A mortgage broker will then negotiate with multiple lenders. They will help you select the right loan for you, assemble the necessary documentation, answer your questions, and speed up the process so you and your family can start enjoying your new home.
Selection Process
Your mortgage broker can explain the many loan types and guide you through the selection process. Loan types include fixed rate, adjustable rate, balloon, interest only, negative amortizations, reverse, and graduated. Together you can find one to suit your needs.
Documentation Necessary
Your mortgage broker will assist you in gathering the documentation needed to apply for the loan. All of the necessary forms will be completed by the mortgage broker and submitted to the lender in a timely manner.
Refinance Loans
If you are already a homeowner in Scranton, refinancing will help to reduce your interest rate and give you money to help with credit card bills, medical bills, remodeling, and college tuition. A refinance loan essentially replaces your first mortgage loan. You’ll be given a new loan type as well as a new rate and term when you choose to refinance. You may also be given one other option, though, with a refinance – the one to cash out the equity you’ve built up in your home. With the help of a mortgage broker, refinancing can be an option for you.
Home Equity Loans
Existing homeowners can also benefit from a home equity loan. Home equity loans usually are shorter in duration than a first mortgage. The equity in your home can be used for such things as remodeling, unexpected bills, and schooling. Your current financial needs can be met with a home equity loan, and you won’t have to change the initial terms of your mortgage to do it as you might with a refinance loan.
Our knowledgeable mortgage brokers will explore all the possibilities with you. What’s important is finding a mortgage broker you can trust. This will make the experience of mortgage selection, refinancing, or obtaining a home equity loan go smoothly. Fill out the form below, and one of our brokers will contact you right away.
