Mortgage Broker Cheltenham PA

Lena Polnet of Dynamic Funding Solutions has been helping Montgomery County homebuyers close the right loan for 28+ years. Located in nearby Huntingdon Valley, Lena serves Cheltenham Township residents with deep local knowledge and access to over 100 wholesale lending partners. Whether you are purchasing a home in Elkins Park, Wyncote, Glenside, or anywhere else in Cheltenham, Lena works with FHA, VA, Conventional, DSCR, Non-QM, Jumbo, Reverse, and Bank Statement loan programs to match your needs with the right lender.

Home Loan Programs in Cheltenham, Pennsylvania

• FHA Loans — One of the most popular programs for Cheltenham buyers entering the market for the first time. Down payments as low as 3.5%, flexible credit requirements, and government backing make FHA a strong starting point.
• Conventional Loans — Fannie Mae and Freddie Mac conforming loans offer competitive rates for Cheltenham buyers with credit scores above 620 and down payments from 3% to 20%.
• VA Loans — Eligible veterans, active-duty military, and surviving spouses can purchase in Cheltenham with zero down payment and no private mortgage insurance through the VA loan program.
• Reverse Mortgages — For Cheltenham homeowners 62 and older, a reverse mortgage (HECM) allows access to built-up home equity without monthly mortgage payments, providing financial flexibility in retirement.
• DSCR Loans — Cheltenham’s proximity to Philadelphia makes it a solid rental market. DSCR loans let investors qualify on property income, not personal income — no pay stubs, no tax returns required.
• Non-QM & Bank Statement Loans — Self-employed borrowers, consultants, and business owners can use 12 or 24 months of bank deposits as income documentation, bypassing standard W-2 requirements.

Why Work With a Mortgage Broker in Cheltenham

The single most important decision a Cheltenham homebuyer makes after choosing a property is choosing how to finance it. Working with a local mortgage broker rather than a big-box bank means you get a professional who shops the market on your behalf. Lena’s wholesale network of 100+ lenders allows her to compare dozens of rate sheets, find the best available terms, and match you with a lender that fits your credit profile and loan type. Banks offer one rate; Lena offers a market. Her 28+ years of experience in the Montgomery County and greater Philadelphia market means she has handled every loan complexity — including complex self-employment income, divorcing borrowers, estate sales, and multi-unit investment properties — without hesitation.

First-Time Homebuyer Programs — Cheltenham PA

• PHFA HFA Preferred — Pennsylvania Housing Finance Agency’s flagship first-time buyer loan provides below-market 30-year fixed interest rates to income-eligible buyers in Montgomery County, including Cheltenham Township.
• K-FIT Down Payment Assistance — PHFA’s Keystone Forgivable in Ten Years Loan provides 5% of the purchase price (or appraised value, whichever is less) as a second mortgage that is forgiven over 10 years — at 10% per year — as long as the home remains your primary residence. No repayment is required if you stay for the full term.
• Keystone Home Loan Program — Another PHFA option for first-time buyers, with competitive rates and the ability to pair with K-FIT for combined down payment and rate assistance.
• Montgomery County Housing Programs — The Montgomery County Planning Commission and local agencies administer additional down payment and closing cost assistance for qualifying buyers in Cheltenham Township.

Contact Lena at no cost to determine your eligibility for state and county assistance programs before your home search begins.

FAQ — Cheltenham PA Mortgage

What makes Cheltenham Township a good place to buy a home?

Cheltenham Township offers easy SEPTA Regional Rail access into Center City Philadelphia, diverse neighborhoods from Elkins Park to Wyncote, and a range of housing price points. Its location in Montgomery County puts buyers within reach of strong school districts and suburban amenities while staying close to the city.

What is the minimum down payment to buy a home in Cheltenham PA?

With FHA financing, as little as 3.5% down. With a PHFA HFA Preferred conventional loan, as little as 3% down — and with K-FIT assistance, much of that can be covered by a forgivable grant. Veterans qualifying for a VA loan can purchase with zero down payment.

Can I refinance my Cheltenham home to get cash out?

Yes. Cash-out refinancing allows you to convert home equity into funds for renovations, debt consolidation, or other uses. Lena will compare your current rate to available options and calculate whether a refinance makes financial sense given current market conditions.

Ready to get started? Call (215) 364-7171 or visit dynamicfunding.net to connect with Lena Polnet and explore your mortgage options in Cheltenham PA.

Dynamic Funding Solutions, Inc. — NMLS #17144 | Lena Polnet — NMLS #17225 | Licensed in Pennsylvania and Florida | Equal Housing Lender