The next step is hunting down the best mortgage for that Philadelphia home for purchasing or refinancing. An excellent starting point is here: simply give us an idea of the type of loan you want. You will receive bids from multiple Philadelphia lenders that will compete to provide a loan at the lowest rate, matching you with nearly 26 Philadelphia mortgage lenders. Your mortgage may be for a new home, refinancing or perhaps a home equity loan - in any case, the best way to start is to see what everybody offers.

How much of a Mortgage?

Mortgage affordability is important to the bank, but crucial for you. As of 2005, the average Philadelphia mortgage payment was $989 which will give you an idea of what you can expect even with historically low rates. Our mortgage calculator will help you plug in the critical components so that you can determine how large a home loan is reasonable for your Philadelphia home.

Philadelphia is a major city in Pennsylvania with no shortage of reputable mortgage lending institutions. These include financial houses working with us such as: Sunset Mortgage Company Lp, Family First Mortgage Corp, Gmac Mortgage, American Mortgage Express Corp, Allstate Funding Corp, Northeast Mortgage Corporation, U.S. Mortgage Group, Allstate Funding Corp.Allstate Financial Group.Wachovia Mortgage Corporation.

Philadelphia Mortgage & Real Estate Market

In 2006 Philadelphia housing sales were at an all time high; down recently but leveling off. As of 2005, the median home value in Philadelphia was $100,200. This number is big in comparison to the median home value back in 2000 of $59,700. Philadelphia has a solid home ownership base with 659,769 houses and apartments and 49% of those are occupied by their owners. Despite the current market, historically Philadelphia has been a city where people move, buy and stay - with 45% of homeowners currently paying off a mortgage. About 11% of the city's current homeowners are carrying a second mortgage or home equity loan.

American Investment Services, Inc.
12 Wayne Avenue Trooper, PA	Phone: 800-220-2016 Ask for: Skibbe Raymond
Special Mortgage Programs
Call Ken or Ray for a Fast Free Quote. Low Rates and Flexible Programs for all loan types. We have been doing business with people for 17 years in Pennsylvania. Fast closings! Computerized systems let us bring high interest down to a lower payment loan. Call Directly for a $1,000 Gift at Closing!! 800-220-2016, Mon-Fri until 9 PM and Saturdays.
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Housing	Philadelphia, PA	United States
Home Appreciation	14.60%	9.80%
Median Home Cost	$233,400	$217,200
Homes Owned	52.65%	64.07%
Homes Rented	36.52%	21.45%

Location	Population	Median Family Income (2005)
Allentown	106,632	$32,016
Altoona	49,523	$28,248
Bethel Park	33,556	$53,791
Bethlehem	71,329	$35,815
Chester	36,854	$25,703
Erie	103,717	$28,387

Category	Value
Homes With No Mortgage	44%
First Mortgage Only	45%
2nd Mortgage or Home Equity	11%
Second Mortgage Only	5%
Home Equity Loan Only	6%

Mortgage Type	Today	Last Week	Change
30 yr fixed	6.03	6.24	0.035%
15 yr fixed	5.47	5.72	0.046%
5/1 ARM	5.34	5.43	0.017%
3/1 ARM	5.48	5.42	0.011%

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