Roxborough Philadelphia Mortgage

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Mortgage and Lending with Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, NMLS #138061 MMCD #1141

Roxborough Philadelphia, PA Mortgage

 

 

     Roxborough is a wonderful neighborhood in Northwest Philadelphia, bordering Manayunk, East Falls, and Fairmount Park.  Along with Roxborough Philadelphia MortgageManayunk, Roxborough is separated from the rest of Philadelphia by the Wissahickon Creek, making it very much it's own unique community.

 

 

     A great place to live and invest, Roxborough is home to Philadelphia University and St. Joseph's University.  Roxborough Philadelphia properties range from old, classic row homes to single family residences with nice yards, a rare amenity in Philadelphia.

 

 

Roxborough Philadelphia Home Sales

 

     In 2013, there were 456 home sales in Roxborough.  Homes sold, on average, for $231,000 and an average sale selling for 93% of the list price.  There were also 28 sales of condos in Roxborough with an average price of $169,400. 

 

 

     The predominant method of financing in Roxborough is conventional financing, however in 2013 there were also many FHA mortgages used to buy homes, as well as plenty of cash sales.

 

 

     Cash investors should always keep delayed financing in mind to maximize their investment power.  Those looking for a Roxborough Mortgage should look into one of the following mortgage options:

 

 

Roxborough Philadelphia Conventional Loans

 

     Roxborough home buyers can borrow up to $417,000 with the use of conventional financing.  The benefits of this type of financing are only a 5% down payment requirement (all of which can be gift funds), competitive rates, cheaper mortgage insurance than FHA loans (with good credit & less than 20% down), the ability to use LPMI, and the ability to have sellers assist cover closing costs (up to 3% of the purchase price with less than 10% down, up to 6% of the purchase price with 10% down).

 

 

     The disadvantages of Conventional lending are that rates and PMI premiums can be higher for those with lower FICO scores and spotty credit history.  Conventional loans are not assumable, so when a home is sold a conventional loan must be paid off.

 

 

Roxborough Philadelphia FHA loans

 

     With an FHA loan, Roxborough home buyers can finance up to $379,500 in loan proceeds with only a 3.5% down payment.  The FHA program allows buyers to come to closing with little to no money out of pocket beyond the 3.5% (which can be gift funds) since the program allows for up to 6% sellers assist.

 

 

     FHA loans are a great program, especially for buyers will less than perfect credit, as the interest rates aren't nearly as dependent on FICO scores as conventional rates are.  FHA is also less restrictive to buyers with a previous bankruptcy or foreclosure.

 

 

     The downside to an FHA loan is the PMI - it is expensive, and with less than 10% down, it's required to stick to an FHA loan for the life of the loan, despite a home owners equity position.  For this reason, many FHA buyers later refinance into a conventional loan.  A major upside to FHA loans is that they're assumable, which is a great benefit to sellers in a rising interest rate environment.

 

 

Other Roxborough Mortgage Options

 

     Home buyers in Roxborough can also use many other loan programs such as VA financing, Portfolio financing, or for more expensive Roxborough properties, buyers can use one of our many Jumbo mortgage programs, some of which have even better rates than conventional loans.  FHA 203(k) loans are available to Roxborough home buyers who would like to renovate or update the property they're buying.

 

 

     Roxborough is an excellent area of Philadelphia to call home.  It's got all of the nearby amenities of the city with a more suburban feel in many areas.  If you're interested in buying a home in the Roxborough neighborhood of Philadelphia, we'd highly recommend reaching out to Jon Miller of Keller Williams.  Jon is an expert in the Philadelphia marketplace, and a resident himself.  He knows the market, and provides tremendous service to his clients.

 

 

If you have any questions on the Roxborough marketplace or your mortgage options, call 484.680.4852 or get an immediate response by asking an expert here.

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Location:
Pennsylvania Philadelphia County Philadelphia Roxborough
Groups:
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Pennsylvania Professionals
Pennsylvania Realtors
The Philadelphia Real Estate Network
Tags:
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Rainmaker
2,811,752
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

John, You definitely provide a wealth of information on Roxborough Philadelphia, PA Mortgages. You are the person to hire to secure a mortgage!

Sep 20, 2014 05:14 AM #1
Rainmaker
1,970,947
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

John - looks like you are getting some pull from your old area.  I know Roxborough because I grew up in Philadelphia and the suburbs.

Sep 20, 2014 05:38 AM #2
Ambassador
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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Thanks Kathleen - it's my old backyard so I know the market and the products available well!

 

Grant Schneider I didn't know that, where around the city did you live?  I lived in the city and in Delaware & Chester county as well.

Sep 20, 2014 06:03 AM #3
Rainmaker
3,672,916
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning John. I grew up in Philadelphia and know Rovborough well. Super information.

Sep 20, 2014 06:17 AM #4
Rainmaker
1,970,947
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

John Meussner I grew up in Feasterville in Bucks County and graduated from Neshaminy High School in Langhorne, PA. 

Sep 21, 2014 11:32 AM #5
Rainmaker
911,807
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

You are lending in my backyard!  Wow....when I get back from vacation we will connect.   This is great information on a Philadelphia area community.  Do you staff researchers or are you working with an area agent?

Sep 22, 2014 12:33 PM #6
Ambassador
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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Sheila Anderson I'm a Philly native, too, small world!  Thanks for the comment.

 

Grant Schneider Ok, I played hockey in college in that area, I went to West Chester U.

 

Joy Daniels Of course, Joy!  I'm from your backyard : )  That sounds good - I work with agents in areas either local to me now or places that have been local to me, so I can stay familiar w/my marketplace.  I have agent help for the sales #'s (us LO's don't get MLS access unfortunately), but other than that it's my own work.

Sep 22, 2014 03:19 PM #7
Rainmaker
4,432,317
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

John, Nice information about Roxborough . It is good to read that you offer mortgages in my market area. 

Sep 22, 2014 08:34 PM #8
Rainmaker
3,223,856
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

John how interesting when I read about Row homes, I think of Boston and San Francisco....very informative post, Endre

Sep 23, 2014 03:57 PM #9
Rainer
220,151
Suzanne Otto
Six Twenty Designs - Lansdale, PA
Your Montgomery County PA home stager

Ah good ol' Roxborough. You can't beat Main St in Manayunk. It's like a little Philly. 

Sep 24, 2014 12:52 AM #10
Ambassador
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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Hi Gita Bantwal , yes I do, I'm very familiar with all of the areas in SE PA, especially the Bucks/Mongto/Delco/Chesco/Philadelphia markets.

 

Endre Barath, Jr. Philadelphia has many row homes as well, some hundreds of years old. 

 

Suzanne Otto Ha, yes good ol' Roxborough.  I've gotten in far too much trouble on Main St over the years!  Little bit too much fun in that area.

Sep 24, 2014 01:36 AM #11
Rainmaker
1,290,217
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

John Meussner ~ you are the best! No one knows the products better then you, and I for one pick you every time to assist me with a loan...

Sep 24, 2014 01:37 AM #12
Rainmaker
1,324,794
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Hi John,

Sounds like Roxborough is a great place.  Glad to see you branching out.

Sep 24, 2014 06:27 AM #13
Rainmaker
929,520
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

John, if anyone knows how to mortgage a Roxborough Philadelphia PA home it's you and with the average price being $231,000 in 2013 buyers should know to call John Meussner.

Sep 25, 2014 04:14 AM #14
Rainmaker
981,863
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great information and local post about Roxborough.  Buyers will get a real picture from your % of list, financing options, and different types of properties!

Sep 25, 2014 03:39 PM #15
Rainmaker
929,520
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

Buyers in Roxborough Philadelphia know to call John Meussner for their Mortgage wants/needs when they Google Roxborough Phuladelphia or Roxborough neighborhoods. Great SEO Titles

Sep 26, 2014 05:06 AM #16
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