The Pennsylvania Housing Finance Agency, or PHFA, is a state-affiliated agency created to help provide affordable housing to first-time home buyers, low- and moderate-income families, seniors and others with special housing needs.
To access these programs, you’ll need to work with a participating lender. We researched PHFA’s four-page list of state-approved banks and mortgage companies and compiled a summary of lenders who rank among NerdWallet’s best-rated.
Best PHFA mortgage lenders among nonbanks
These lenders aren’t depository institutions; they work with borrowers who aren’t impressed with fancy lobbies and free checking.
- Nationwide top 100 mortgage lender.
- Offers a fully online loan application, along with document upload and e-signature.
- The “Close-On-Time Guarantee” makes your first month’s mortgage payment if your loan fails to close on time.
- J.G. Wentworth Mortgage review
- Nonbank lender with a lineup of loan products rivaling bank offerings.
- Has a below-average complaint volume at the Consumer Financial Protection Bureau.
- Offers 180 affiliated loan stores nationwide for customers who prefer face-to-face service.
- LoanDepot review
Best PHFA mortgage lenders for online capabilities
You can start an application on your lunch break or over coffee. With these lenders and a smartphone, you’re set.
- You can apply and check your application status online.
- Certain loan programs allow consideration of nontraditional credit histories.
- Website offers plenty of educational material.
- BB&T review
- Mobile app allows users to apply for a loan in under 10 minutes.
- Applicants can securely scan and upload documents through the app.
- A 24/7 online portal allows access to application and loan details.
- Fairway Independent Mortgage review
Best PHFA mortgage lenders for customer service
These lenders stand out among those with positive client feedback.
- Has a 95% customer satisfaction rating, according to company data.
- The mortgage process can be handled entirely online.
- Qualified loan officers can walk you through any part of the application.
- Guaranteed Rate review
- Each client receives a survey about their loan experience; negative responses are addressed.
- Costco members can earn discounts on fees.
- A renovation loan “concierge” works with you and your contractor or builder.
- Homebridge review
Best PHFA mortgage lenders for borrowers with tight finances
Looking for a mortgage and not wanting to bust your budget? These lenders offer loan products and services you might like.
- Provides mortgages for manufactured homes.
- Offers energy-efficient home loans and FHA 203(k) renovation and remodeling loans.
- Uses bank statements rather than tax returns to qualify some borrowers.
- PrimeLending review
- Credit score requirements as low as 580.
- Makes loans on condominiums.
- VA loans are a specialty from a “company founded by veterans.”
- J.G. Wentworth Mortgage review
» MORE: See the best Pennsylvania mortgage lenders
More PHFA participating mortgage lenders
These are among the highest-volume PHFA-participating mortgage makers in Pennsylvania; however, they haven’t been reviewed by NerdWallet.
Best PHFA mortgage lenders: summary
- J.G. Wentworth Home Lending: Best among nonbanks.
- LoanDepot: Best among nonbanks.
- BB&T: Best for online capabilities.
- Fairway Independent Mortgage: Best for online capabilities.
- Guaranteed Rate: Best for customer service.
- Homebridge Financial Services: Best for customer service.
- PrimeLending: Best for borrowers with tight finances.
- J.G. Wentworth Home Lending: Best for borrowers with tight finances.
- Trident Mortgage Company: High-volume PHFA participating lender.
- Citizens Bank: High-volume PHFA participating lender.
- GMH Mortgage Services: High-volume PHFA participating lender.
- First National Bank of Pennsylvania: High-volume PHFA participating lender.
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