Monroe County, Pennsylvania
Mortgage Rate Alerts
Never Miss A Refinance
Opportunity
Always on mortgage monitoring without hurting your credit.
Instant email and text alerts.
A Better Mortgage In 3 Easy Steps
Sign up
Provide some basic info, no SSN required
Start getting alerts
For refinance via email and texts
Apply and close
The new loan and start saving money
1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Monroe Real Estate Market Update
In Monroe County, Pennsylvania, the real estate market has seen a modest increase in home values over the past year. As of October 2024, the median home sold price in the county was $305,000, reflecting a 1.7% increase from the previous year. This indicates a stable market where homes are relatively affordable, with a median price per square foot of $171.
Monroe County is home to several notable cities, including Stroudsburg, East Stroudsburg, and Mount Pocono. Stroudsburg, the county seat, has a population of approximately 5,600 people, while East Stroudsburg is slightly larger with around 10,000 residents. Mount Pocono, known for its scenic beauty, has a population of about 3,000. These cities serve as cultural and economic hubs within the county, offering a blend of small-town charm and modern amenities.
Living in Monroe County offers a mix of rural and suburban experiences. The county is characterized by its picturesque landscapes, including farms and agricultural areas, alongside suburban developments. The top industries in the region include tourism, healthcare, and education, attracting residents who seek a balance between nature and convenience. Migration patterns show that people are moving to Monroe County for its affordable housing, quality of life, and proximity to major metropolitan areas like New York City and Philadelphia, making it an appealing choice for those looking to escape the hustle and bustle of city life.
2025 Mortgage Loan Limits:
Monroe County, Pennsylvania
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Monroe County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
Never Miss A Refinance Opportunity
Always on mortgage monitoring. Instant email and text alerts.
