For the protection of our customers and our staff, we are not taking any new mortgage loan refinance or purchase applications until further notice. We will continue to process the pending mortgage loan applications already in our pipeline.
Due to the health crisis of COVID-19, we have limited our staff and lobby access for your protection as well as our teams.
As always, our relationship with our customers is our top priority and during this challenging time, we hope to keep everyone in our communities healthy and secure.
Thank you for your understanding and we will notify you when we resume normal operations.
Fixed Rate Mortgages give you a rate that is fixed for the duration of your mortgage loan which means your payment for the principal and interest will remain the same every month.
So if your interest rate is 3.5% it stays 3.5% for the whole loan period.
Adjustable Rate Mortgage (ARM) gives you a fixed rate for a certain amount of time then can fluctuate according to the market index. The index and rate fluctuations may differ depending on the financial institution.
Closing cost may be lower on an Adjustable Rate Mortgage.
A Cap is the maximum amount the interest rate can adjust after the initial fixed-period.
PBC's cap may adjust up or down by 1% point annually after the initial fixed period with a maximum adjustment over the life of the mortgage of only 5% points above or below the initial interest rate with a minimum rate of 3%.
Your credit score may determine what kind of rate you receive on your mortgage loan. Generally a higher credit score gets you a lower interest rate. Tips on how to improve your credit score - CLICK HERE
Closing Cost refer to all of the charges you will need to pay when you complete your loan. Closing Cost may include the following:
Origination Fees - Title Examination - Appraisal - Survey - Recording Fees - Underwriting Fees - Credit Report
You should gather the following documentation:
Who we are
Available funds are on a first-come first serve basis beginning March 2, 2020.
Eligibility is determined by total household income (income of all adults who live in the home at the time of loan closing). Figures below are to be used for estimate purposes only. The bank will calculate income based on documents requested at the time of application. Composition of household includes all persons residing in the home at the time of closing, regardless of age or income.
|County of Residence||1-2 Persons||3 Persons +|
|Van Wert, Darke County||$56,720||$65,228|
Contact us for more details.
Fixed Rate Mortgages give you a rate that is fixed for the duration of your mortgage loan. So if your interest rate is 3.5% it stays 3.5% for the whole loan period.
Adjustable Rate Mortgage (ARM) give you a fixed rate for a certain amount of time them fluctuate according to the market index. The index may differ depending on the financial institution.
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