Mortgage Loans 

As your community lender, we offer the best mortgage tools available online and in-person. Along with convenient pre-qualification and application tools, we offer competitive rates and direct access to mortgage originators to assist you with this often difficult and confusing process.

In addition to conventional mortgages, we work with multiple types of programs to make financing easier.

Types of Mortgages

Traditional Loans

  • A principal and interest payment that never changes
  • Terms between 8-30 years with a down payment as low as 3% for first-time homebuyers
  • Available financing for secondary residence

  • Alternative financing available
  • Terms between 10-30 years with a down payment as low as 5%
  • Available financing for secondary residence

Government Loans

  • Benefits first-time homebuyers
  • Terms of 15 and 30 years with a down payment as low as 3.50%
  • No income limits apply

See Details

  • 0% minimum down payment
  • 30-year term
  • Income limits apply

See Details

Other Financing Options

  • 30-year term with a down payment as low as 3% for first-time homebuyers
  • Down payment and closing cost assistance to eligible first-time homebuyers
  • Income limits apply

See Details

Specialized Loans

  • Build your dream home
  • Terms between 8-30 years with a down payment as low as 5%
  • Available financing for secondary residence

Down payment assistance:  First Front Door


Contact Us

Just need a rate?  Complete your contact information and we will get back to you.

Get Prequalified

Ready to Apply

To speak with a Mortgage Originator:  Contact our Customer Care Center at 800-972-1651 or contact the Mortgage Originator in your area.

Home Purchase Basics

Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you're a first-time homebuyer. Here's some information that will keep you on track.
In General....
A home purchase may be your largest financial transaction to date, so it's important to make the right decisions and to keep an eye on the details. With the assistance of your Real Estate Agent and Mortgage Originator, it should be an efficient, pleasant, and ultimately rewarding experience.
Count On Your Real Estate Agent To:
  1. Preview available homes to weed out those that are overpriced, or undesirable in some other way.
  2. Present the homes that suit your needs as you've defined them.
  3. Help you determine the difference between a "good buy" and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.
  4. Negotiate the best deal for you.
Count On Your Mortgage Originator To:
  1. Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!)
  2. Keep you informed of your loan status throughout the entire process.
  3. Get the appropriate loan for you at the best rates and fees. This will save you significant money "up front" and throughout the years to come.
Count On Yourself To:
  1. Complete our pre-qualification form. A pre-qualification is an easy and fast way to find out what mortgage loan amount you may possibly qualify for, however it is not a commitment to make a loan
  2. Keep your Real Estate Agent informed of any questions or concerns as they develop.
  3. Keep the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention.
  4. Enjoy purchasing your home, but do remain objective throughout -- to make the best credit decisions for you.

How to Get a Loan

Once you select Somerset Trust Company to obtain your home loan, you'll be amazed at how quickly and simply the loan process moves. Before you know it, you'll have a mortgage that suits your lifestyle and saves you money.

Throughout the loan application and approval process, while we will provide you with regular updates, you may also choose to e-mail us with any questions or new information. If you need any assistance, our friendly mortgage originators, who are here to help you, are just a phone call away.

Here's an overview of the loan-application process:
STEP ONE -- Apply Now! Getting started is easy
Once you've selected a property and have a Sales Agreement, the next step is to complete your loan application, which can be done easily through our website. To get started, click "Ready to Apply" above.

At the appropriate time, Somerset Trust Company will order a property appraisal.
STEP TWO -- Your Loan is Approved and Funded
You, along with your Real Estate Agent, will need to designate either an Attorney/Title Company to handle the funding of your loan along with many other factors, which will ultimately make the purchase process go smoothly.
We will coordinate with the Attorney/Title Company, and you'll sign the final papers at their office on closing day.

Simple, Straightforward, Cost Effective, and FAST!

Documentation required for your loan application

- Signed Sales Agreement (if applicable)
-    Most recent two months’ paystubs for each borrower
-    W-2s for last two years for each borrower. If retired, a copy of Social Security award letter or retirement award letter.
-    Last two years of tax returns with all schedules.  
-    Copies of most recent two months’ bank statements for all bank accounts (i.e., checking, savings, 401K, etc.).
-    Legal Description (Deed)
-    Copy of Homeowner’s Insurance policy (refinance) or binder (purchase)
-    Annual Real Estate Taxes – Amounts or copies of receipts
-    Name, address, and telephone number of Landlord, if currently renting