Mountain Mortgage
How much cash do I really need to close in the Poconos?
Down payment, closing costs, prepaids, escrow — what to expect and how to plan.
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First-Time Homebuyers
Know your payment and cash to close — before you fall in love with a house.
The worst time to learn your real numbers is after you've found the one. Run them now — free, no credit pull, no spam calls — and shop with confidence instead of crossed fingers.
The local advantage
Three things nobody tells first-time buyers here
Most first-time buyers in the Poconos overestimate what they need and underestimate what they qualify for. Here's what actually matters:
- You probably need less down than you think. FHA starts at 3.5% down with flexible credit — and some local banks don't offer FHA at all. As a broker, we shop FHA, conventional, and VA across multiple lenders and show you the side-by-side.
- Seller assist is a Pocono buyer's best friend. In PA, sellers can pay up to 6% of the price toward your closing costs on FHA loans. Negotiated well, it can cut your cash to close by thousands — and we'll tell you how much to ask for without weakening your offer.
- Free money exists — if you check before you offer. PHFA down-payment assistance and Monroe County first-time buyer programs can put real dollars toward your purchase. They have income limits and paperwork, so the time to check is now, not under contract.
No credit pull · No spam calls
See what a Poconos home really costs you per month
FHA, Conventional & VA side-by-side — rate, payment, and a full cash-to-close worksheet, down to the county transfer tax. 60 seconds.
Run My Numbers
Mortgage 101
Start with these three reads
What's actually in my Poconos mortgage payment?
Principal, interest, taxes, insurance, HOA, PMI — broken down clearly.
Read the articleConventional vs FHA vs VA — which fits you?
A simple comparison of the most common loan types, with Poconos-specific notes.
Read the article★★★★★
"I cannot recommend Paul London highly enough! As a first-time homebuyer, I was naturally nervous about the process, but Paul made everything absolutely seamless from start to finish. He took the time to explain everything clearly, answered all my questions (no matter how small), and made sure I felt comfortable and informed throughout the entire process. Thanks to Paul, what could have been an overwhelming experience turned into an exciting and smooth journey to homeownership."
FAQ
First-time buyer questions, answered
Less than most first-time buyers think. FHA starts at 3.5% down, and conventional first-time buyer programs start at 3%. VA loans for eligible veterans require $0 down. The down payment is only part of the picture, though — closing costs, prepaids, and escrow setup add to your total cash to close, which is why we show you the full worksheet, not just the down payment.
FHA loans are designed to be flexible on credit — many lenders work with scores in the low 600s, and some lower. Conventional pricing improves meaningfully as your score climbs past 680 and 740. You don't need perfect credit; you need to know what your score qualifies you for, which our quote tool shows without pulling your credit.
In PA it's common to negotiate the seller paying part of your closing costs — called seller assist. FHA allows up to 6% of the purchase price; conventional allows 3% with less than 10% down. Used well, seller assist can cut your cash to close by thousands. We help you decide how much to ask for without weakening your offer.
Yes. PHFA (Pennsylvania Housing Finance Agency) offers down-payment and closing-cost assistance programs for qualifying buyers, with income limits that most Monroe County households fall under. Monroe County has also run its own first-time buyer incentives. Eligibility rules change, so we check the current programs against your situation when you reach out.
Pre-approval takes 1–3 days once you send documents. From accepted offer to closing typically runs 30–45 days — appraisal, underwriting, title, and inspections for mountain-specific items like wells, septic, and radon. Off-season closings often move faster. Preparing your documents early is the single biggest speed-up.
Shop for your first home with real numbers in hand.
We'll review your situation, explain your options, and show you the real numbers — no pressure, no jargon, no spam calls.
Or reach us directly: (484) 469-5070 · info@mountainmortgage.us