Buying a new home is an exciting time, but it also comes with plenty of decisions that you’ll need to make throughout the process. Choosing your mortgage provider is one of the biggest, as this not only impacts how much money you can borrow, but also the types of loans you qualify for and the interest rate you’ll be subject to on your repayments.
At 1st Colonial Community Bank, you’ll find tailored home loan solutions when you’re looking to purchase property in Southern New Jersey, Southeastern Pennsylvania, and Greater Philadelphia. As a community bank, we want to make sure that you finding the right fit for your financial needs, so we’re here to share some details you might want to consider when choosing a community bank for your mortgage.
Personalized Mortgage Services in Greater Philadelphia
When you work with a community bank like 1st Colonial, you’ll receive personalized attention that you won’t find at a larger, national financial institution.
Due to our size and local focus, we assess individual customer needs and preferences before providing you with customized mortgage solutions that we think will be best for your circumstances. We’re part of the community too, so everything we do is customer-centric to help both you and our wider area thrive.
You’ll have direct contact with the decision makers at the bank, which means you’ll get to know your loan officers who can give you invaluable advice about the current housing market in the region. We’ve seen it all, and we want you to benefit from our local knowledge when making a decision about your next mortgage.
Because we’re focused on helping customers like you in our specific geographic area, we can provide you with more relevant advice about the types of mortgages to consider based on the property you want to buy. Any unique challenges or trends that we’ve seen in the local housing market, we can share with you and help you find the best solutions.
In contrast, when you work with a larger bank, you’ll likely be offered standardized mortgage products that may not be flexible or tailored to your specific needs. You’ll often have to deal with automated systems or call centers before reaching someone in the branch directly, which can be frustrating when you already have a number of other timely decisions to make when purchasing a new home.
But when you work with a local, community bank, you’ll have direct and personal interactions with everyone in the mortgage process. And on top of that, our lenders’ local knowledge can make the crucial difference in helping you get a mortgage that works for you, in our community, rather than a generic home loan that doesn’t benefit you.
Find Your Perfect Mortgage Match with 1st Colonial’s Extensive Offerings
Whether you’re buying your first home or already have experience in purchasing property, we have a mortgage solution at 1st Colonial to fit your needs. No matter what type of buyer you are, we offer a range of home loan products when you’re looking to buy a house in Southern New Jersey, Southeastern Pennsylvania, or the Greater Philadelphia area.
Conventional Home Mortgage
This is likely the home loan type that you’re most familiar with—it’s a standard mortgage that isn’t insured by a government agency. This is ideal for those with a strong credit score and buyers who can make a down payment of 20% or more, have a stable income, and a good credit history.
1st Colonial’s conventional home loans are available with fixed interest rates that won’t change over the lifetime of the loan, or adjustable rates if that’s a better fit for you.
FHA Home Loan
With an FHA mortgage, your home loan is backed by the Federal Housing Administration and is designed specifically for low-to-moderate income borrowers. These are ideal for first time buyers with lower credit scores, as the down payment requirement is lower than a conventional mortgage and there are less stringent credit requirements to meet.
You’ll need to ensure that your new home is your primary residence to take out an FHA home loan, but this is a great option if you need a more flexible, accessible, and affordable mortgage product.
VA Home Loans
Whether you’re currently serving our country, are now a U.S. veteran, or are an eligible surviving spouse, you could benefit from a VA loan for your next home. These loans are backed by the Department of Veteran Affairs and offer benefits like no down payment, no private mortgage insurance requirements, and competitive interest rates.
VA loans can make your transition to home ownership smoother, particularly when you work with a community bank like 1st Colonial. We want to support you and thank you for your commitment to our country, so provide you with lifetime benefits under this type of mortgage.
USDA Home Loan
As a way to promote home ownership in rural areas, the U.S. Department of Agriculture offers backing for USDA home loans that are ideal for borrowers looking to buy in eligible rural and suburban locations.
This type of mortgage may be especially appealing for borrowers looking for no down payment options but don’t qualify for other loans that offer this benefit like VA loans. You’ll still need to meet certain income, citizenship or residency, and credit history requirements, but we’ll work with you to see if a USDA home loan is the right fit.
Why Greater Philadelphia Chooses 1st Colonial for Community-Focused Banking
Supporting the Local Economy
Community banks play a critical role in boosting the local economy of the area you’re living in. When you choose a community bank like 1st Colonial, you’re indirectly supporting local businesses and their initiatives, and continuing to contribute to your community’s growth.
We invest significantly in local projects, so by becoming a 1st Colonial customer, you are too. This then creates a positive cycle of growth and development in the region, which not only helps you to thrive here but your neighbors as well.
Personalized Banking Relationships
Working with a community bank offers you a more connected, intimate experience with your finances than if you choose a larger financial institution. Often, bigger organizations will see you as simply a number in their large list of customers—that’s not the case at a community bank.
Like many community banks, at 1st Colonial we pride ourselves on the long term relationships we build with our customers. This helps us to serve you better and provide you with recommendations for banking products that meet your needs and goals.
Community Involvement and Responsibility
One of the best reasons to work with a community bank like 1st Colonial is helping your local community thrive, particularly in the areas of well-being and social responsibility. We reinvest our time and resources to local organizations and nonprofits so that everyone in our community can flourish.
From book festivals and arts events, to schools sports and small business education, 1st Colonial is proud to contribute to numerous community projects throughout Southern New Jersey, South Eastern Pennsylvania, and the Greater Philadelphia area.
Step into Your New Home with Confidence: Choose 1st Colonial for Your Mortgage
Choosing 1st Colonial for your mortgage means more than just securing a loan—it's about receiving personalized service, benefiting from deep local market knowledge, and supporting your community.
Unlike larger banks, 1st Colonial offers tailored mortgage solutions and direct access to decision-makers in Southern New Jersey, Southeastern Pennsylvania, and Greater Philadelphia.
Our diverse mortgage options cater to all homebuyers, ensuring a fit for every need. By selecting 1st Colonial, you're not just making a financial decision but also contributing to the economic and well-being of your neighborhood. Contact us today to find out more about what home loans you could be eligible for.