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If you are a first-time home buyer or just need a refresher of the process, check out our Home Buying 101. It provides information that will keep you on the right track! And before you come in for an application check out our Home Loan Applicant's Checklist. This will ensure you save valuable time during the process.
We offer a wide variety of home loans. We have the expertise and experience as a lender to make sure you understand your options and get the loan that's right for your situation.
| Type of Mortgage | Type of Buyer | Special Features |
|---|---|---|
| Fixed Rate Mortgage | Ideal for buyers who wish to lock in one of today's low interest rates, knowing that the monthly payments will never change. Also ideal for those with fixed income who expect to remain in the home 10 years or more. | You choose the term that's right for you. Private Mortgage Insurance required on loans greater than 80% loan to value, certified appraisal required. |
| Adjustable Rate Mortgage (ARM) | Ideal for buyers looking for lower, more affordable initial monthly payments, who expect interest rates to remain stable or decline during the time you are in the home, those with flexible income and do not expect to remain in the home more than 10 years. | Loans not sold - extensions and rewrites at bank's discretion, Timing of payments set at customer's discretion, Biweekly or partial payments made at customer's discretion, lower rate in first term of loan, in house appraisal (depending on transaction), Private Mortgage Insurance (PMI) required when the loan to value is greater than 85%. |
| First Time Home Buyers | n/a | All available programs will be explored (PMI can assist with down payment requirements, etc.) to match needs of new buyers to the best options in the market. |
Our home equity loans let you take advantage of the equity you've built up in your home. Whether you want to finance home improvements, plan for a college education or other major purchases a home equity loan can help you achieve your objective. The interest on the loan may be tax deductible (consult your tax professional).
Congratulations on your decision to purchase a home. Buying a home is one of life’s most meaningful milestones, and with the right guidance, it can be an efficient, pleasant, and rewarding experience. Your Real Estate Agent and Loan Officer each play an important role in helping you navigate the process with confidence.
Below is a helpful overview to get you started on the right track.
Your real estate agent is your professional advocate throughout the home-buying process. Their responsibilities include:
A Pre-Approval from Peoples State Bank strengthens your position as a qualified buyer. Sellers often view pre-approved buyers more favorably, which can make your offer more competitive—even when multiple offers are on the table.
Your loan officer guides you through the financing process and ensures you understand your options.
Your loan officer is your resource for understanding mortgage terms, interest rates, required documentation, and next steps.
As the buyer, your involvement is essential to keeping the process smooth and timely.
Taking these steps early helps ensure a smoother experience from application to closing.
Peoples State Bank is here to support you every step of the way. Whether you're buying your first home or your next one, our lending team is ready to help you move forward with confidence.