Mortgage loans to fit your needs

Answer: The Peoples Bank Co. offers several home financing options to help you purchase, refinance, or build a home. Mortgage options include conventional fixed-rate mortgages, adjustable-rate mortgages, USDA and rural development loans, and Home Buyer Assistance (HBA) loans. PBC also offers home equity loans and construction financing. Our local lending team can help you explore your options and determine which type of financing may fit your needs.

Answer: You can begin your mortgage application online through The Peoples Bank Co. website. You can also request a mortgage rate quote or connect with a local mortgage lender for guidance. Starting the process early can help you understand your financing options and prepare for your home purchase.

Answer: Yes. Getting prequalified before you start house hunting can help you understand your potential borrowing range and plan your home search with greater confidence. The Peoples Bank Co. allows prospective borrowers to begin the prequalification process online. Your actual borrowing amount will depend on your financial situation, the property, and the loan program.

Answer: Your required down payment depends on the mortgage program you choose and your financial circumstances. The Peoples Bank Co. has a Home Buyer Assistance loan program with down payments as low as 10% and certain construction loans may also require as little as 10% down. Other loan programs may have different requirements. Contact a PBC mortgage lender to discuss your options.

Answer: The Peoples Bank offers Home Buyers Assistance (HBA) loans for eligible borrowers. These loans may help make homeownership more accessible, with a down payments as low as 10%. Eligibility and loan requirements vary, so speak with a PBC mortgage lender to find out whether this option may work for your situation.

Answer: A fixed-rate mortgage generally keeps the same interest rate throughout the agreed term of your loan, providing predictable principal and interest payments. An adjustable-rate mortgage has an interest rate that may change according to the terms of the loan. The right option depends on your budget, financial plans, and comfort with potential payment changes. The Peoples Bank Co. offers both fixed-rate and adjustable-rate mortgage options.

Answer: Yes. The Peoples Bank Co. has USDA, VA, and rural development loans within our mortgage options. These programs may be suitable for eligible borrowers purchasing homes in qualifying rural areas. Property location, borrower eligibility, income, and other program requirements apply. Contact a local PBC mortgage lender to discuss whether a USDA, VA, or rural development loan may be available for your home purchase.

Answer: There is no single credit score requirement that applies to every mortgage program. Qualification can depend on the loan type, credit history, income, existing debts, down payment, and other factors. A stronger credit profile may help you qualify for more favorable terms, but the best way to understand your options is to discuss your circumstances with a PBC mortgage lender.

Answer: Mortgage closing costs are expenses associated with finalizing a home loan. Depending on the transaction and loan program, they may include lender fees, appraisal charges, title services, recording fees, and prepaid expenses. The Peoples Bank Co. emphasizes competitive, low closing costs. Ask your lender for an estimate of the costs associated with your specific mortgage before making a final decision.

Answer: Yes. The Peoples Bank Co. offers construction financing for borrowers building an new home or remodeling and existing home. Features for the construction loans include the ability to make multiple draws during construction with out inspections, no fees on construction draws, and potentially low down payment requirements. A general contractor is not required. PBC's construction to permanent mortgage allows you to lock in your fixed rate for the term of your loan before you even begin your project and saves you time and money with just one closing. Specific terms and eligibility requirements apply, so contact PBC to discuss your building plans. 

Answer: The Peoples Bank Co. offers a construction-to-Permanent fixed-rate loan designed to combine construction financing and long-term home financing into one loan with one closing. The program allows eligible borrowers to lock in a fixed rate before construction begins. PBC Construction-to-Permanent Mortgage could save you time and money with only one closing. Contact PBC for current terms, eligibility requirements, and details about financing your new home.

Answer: Yes. PBC offers home equity loans that may help homeowners finance projects or other expenses, such as home renovations, education, or debt repayment. The amount you may be able to borrow and the available terms depend on your home's equity, financial circumstances, and the bank's lending requirements. Contact a PBC lender to discuss your needs and available options.

Answer: Working with a local mortgage lender can give you the opportunity to discuss your needs directly with people who understand the communities where you live. The Peoples Bank Co. makes loan decisions locally and serves borrowers in the Mercer and Auglaize County areas. Its mortgage team can help you compare available financing options, understand the application process, and navigate the steps toward homeownership.

Answer: You can visit The Peoples Bank Co. mortgage page at pbc.bank or request a personalized rate quote. Available rates and loan terms may vary based on the mortgage program, loan amount, credit profile, down payment, property, and other factors. Contact a PBC mortgage lender for details specific to your situation. 

Answer: The mortgage approval timeline depends on the complexity of your application, verification of your financial information, property appraisal, title work, and other requirements. The Peoples Bank Co. emphasizes a quick, local approval process. Your lender can explain the anticipated timeline for your application and identify any documents needed to keep the process moving.

Answer: You can start by requestion a rate quote or submitting a mortgage application through The Peoples Bank Co. website - pbc.bank. You can also contact a local branch to discuss you home financing needs and connect with a mortgage lender. Your PBC lender can help you review available options, understand your next steps, and determine which application path is best for you. 

Answer: Mortgage refinancing may help homeowners explore different loan terms or potentially reduce their monthly payments, depending on their current mortgage and financial circumstances. Contact The Peoples Bank Co. to discuss available refinancing options, current rates, closing costs and whether refinancing may be appropriate for your situation.

Answer: First-time homebuyers in Ohio may have several mortgage options, depending on their income, credit history, down payment, and the property they plan to purchase. The Peoples Bank Co. offers Home Buyer Assistance (HBA) loans, as well as other mortgage programs. Contact a PBC mortgage lender to review available homebuyer financing options and determine which programs you may qualify for.

Answer: Mortgage preapproval can help you understand your potential borrowing range before making an offer on a home. Start by contacting The Peoples Bank Co. to discuss your income, credit history, existing debts, and down payment. Your lender an explain the documentation required and help you determine the appropriate next step in the mortgage application process.

Answer: The Peoples Bank Co. offers competitive, low closing costs on its mortgage offerings. Actual closing cost depend on the loan program, property, and transaction details. Request a mortgage quote and ask for a loan estimate so you can understand the costs associated with your home financing.

Answer: A home equity loa may allow eligible homeowners to borrow against the equity they have built in their property to pay for home improvements, repairs, or other expenses. The Peoples Bank Co. offers home equity loans, subject to its lending criteria. Contact a PBC lender to discuss your available euqity, borrowing options, and repayment terms.