Buy a Home
Welcome to the Neighborhood
Apply Online
Ready to start your home loan? So are we! Our online application allows you to apply anytime from the comfort of your home and when it’s most convenient for you. It’s fast, powerful, and completely online. Use the application to buy, build, or refinance.
Work With a Home Loan Specialist
Our experienced team of loan professionals are ready to assist you every step of the way. Locally based, our home loan specialists work closely with you to make your dreams of homeownership come true.
Find the Right Loan for You
Conventional Loans
Our most popular loan type, conventional loans are just that – a straightforward loan for the purchase of your home. Peoples Bank offers competitive fixed-rate terms. A fixed-rate mortgage provides you with the security of a monthly payment that does not change. Our fixed-rate mortgages are available on one-to-four family owner-occupied, investment, and second homes.
You can choose to include in your monthly mortgage payment your property taxes, hazard insurance, and monthly mortgage insurance if required. Your home loan specialist will work closely with you to determine what works best for your specific situation.
Construction Loans
Build your dream home with the help of a wide variety of construction financing options at Peoples Bank. Our OneStep Construction loans streamline the process by combining all the costs of construction and your mortgage into a single loan, allowing for a seamless move-in experience.
Finance your primary residence, second home, or investment property at competitive rates. Depending on your needs and eligibility, choose from fixed- and adjustable-rate options with attractive terms. Take advantage of flexible construction terms and an automated construction draw disbursement process while enjoying the benefit of local underwriting and approval.
Land/Lot Loans
Claim the perfect spot for your dream home with lot and land financing from Peoples Bank. We offer flexible and competitive terms designed to meet your needs and help you purchase land.
Finance up to 75% with loan amounts from $50,000 to $500,000. Choose from short-term options with long-term amortization. When you’re ready to build, take advantage of the wide variety of construction financing available at Peoples Bank.
FHA Loans
Available in both fixed and adjustable-rate options, an FHA Loan from Peoples Bank is ideal for borrowers with little cash saved for a down payment. Popular with first-time homebuyers, it’s a great option for those with low to moderate incomes. Mortgages are insured by the Department of Housing and Urban Development and have more flexible credit standards.
FHA loans require a minimum down payment of 3.5%*, with the option to receive gifted funds from a family member for the down payment. With local loan decisions and competitive rates, an FHA loan from Peoples Bank can be used for owner-occupied purchases of one-to-four-unit properties.
*FHA loans are subject to upfront and annual mortgage insurance. Upfront mortgage insurance may be financed into the loan amount; annual mortgage insurance is paid each month in the total monthly housing payment.
VA Loans
Peoples Bank is honored to help military veterans and active service members become homeowners through the Veterans Administration (VA) mortgage program. Once eligible for a VA loan, prospective homeowners can choose from several options to best suit their needs.
There are no required down payments for loan amounts up to $766,500* (higher loan amounts are available in designated counties) and minimal down payments for loan amounts up to $1,000,000. With no monthly mortgage insurance, VA loans also feature zero closing cost options.
*The amount is subject to change. All VA loans are subject to veteran’s available VA entitlement. VA Certificate of Eligibility required to determine amount of entitlement available.
Jumbo Loans
Find the right solution when your financing needs exceed maximum loan limits through a Jumbo Loan from Peoples Bank. A jumbo loan allows qualified borrowers to receive a much larger sum than is typically allowed by the maximum conforming limits set by Fannie Mae and Freddie Mac.
Access significant funds (up to $3,000,000) with a single mortgage. Take advantage of attractive terms and competitive fixed and adjustable-rate options. Finance your primary residence, second home, or investment property while enjoying the benefits of local loan decisions.
Bridge Loans
Bridge the gap when you have to buy before you sell with a Bridge Loan from Peoples Bank. A bridge loan allows you to make an offer on a new home that is not contingent on the sale of your current home. With this type of financing, you can leverage the equity in your current home toward the purchase of your new home.
Get a loan with fixed-rate interest and minimal payments after qualifying for a mortgage payment on both your current home and your new home. Borrow up to 80% loan-to-value ratio on your existing home.
Manufactured Home Loans
There are numerous benefits to purchasing a manufactured home and Peoples Bank offers a variety of financing solutions, including low down-payment options, to help you achieve your dreams of homeownership. Conventional financing for a primary purchase requires as little as a 5% down payment, while second homes require as little as a 10% down payment*. Investment properties require a 20% down payment.
In order to receive financing, the manufactured home must be multi-sectional, attached to a permanent foundation, and classified as real property. Apply now and our home loan specialists will help you find the best manufactured home loan program available.
*Private mortgage insurance may be required.
Subject to credit approval. Hazard insurance on subject property is required. If the property is located in a Special Flood Hazard Area, the bank will require you to obtain flood insurance.
Opt out of Unwanted Mortgage Solicitations
Before applying, please note that when your credit is pulled for a mortgage application, the credit bureaus (Equifax, Experian, and TransUnion) may sell your information to third parties, resulting in unwanted solicitations from mortgage marketing companies. With the current market conditions, these companies are becoming more aggressive with their solicitations.
Peoples Bank will never sell your information.
To avoid these solicitations, we might suggest you look into this:
For unwanted mail solicitations, go to www.optoutprescreen.com or call 888-567-8688.
For unwanted phone solicitations, go to www.donotcall.gov or call 888-382-1222. Include all phone numbers currently in use – home and cell.
Please know that there is a delay for these to take effect. The opt out prescreen (mail) service is usually within 5 days. The do not call (phone) service may take up to 31 days for full implementation. It is prudent that you opt out as soon as possible in the process to avoid receiving calls from solicitors.
Mortgage Application Tips
Do
- Keep originals of or be able to electronically access your paystubs, bank statements, and other important financial documents.
- Use your own funds when providing an earnest money deposit on your new home purchase. Notify your home loan specialist if you plan to receive gift funds for closing.
- Let your home loan specialist know of any changes to employment, such as a recent raise, promotion, transfer, or change of pay status.
- Provide all documentation for the sale of your current home, including the sales.
- Continue to save money. Advances from credit cards for down payment or closing costs are never acceptable.
Don't
- Close or open asset accounts or transfer funds between accounts without asking your home loan specialist about the proper documentation required for your loan.
- Deposit any money outside your regular or automated payroll deposits.
- Change job or employer without asking your home loan specialist about the impact this change might have on your loan.
- Make major purchases or open or increase any liabilities, including credit cards, student loans, or other lines of credit. A new credit report may be pulled before closing.
- Make assumptions! Your home loan specialist is here to help you through the process, so ask questions.
Equal Housing Lender