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Buying, Building or Refinancing

We have a mortgage just for you. 

Our great rates, quick closings and friends that will help answer all your mortgage questions, PBC has just what you need to make that home yours! 


Mortgage Facts and Terms

What is a Fixed Rate Mortgage?

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. 

What is an Adjustable Rate Mortgage?

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.

What is Rate Cap?

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%. 

Is my credit score really a big deal when I apply for a mortgage loan?

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

What are Closing Costs? 

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

What documentation should I have ready? 

You should gather the following documentation:

  • Income verification such as you last two years' tax returns and the last two pay stubs
  • Drivers' License
  • Bank Statements
  • Proof of funds for closing

 

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Savings

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Credit Card

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Investment

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Who we are

Who we are

MEET OUR TEAM

 


   

 NMLS Registry Information for The Peoples Bank Co. Mortgage Loan Originators

  • We are a community bank, so all the loan decisions are made here by people who know you and your community.
  • Quick approval and closings. You are driving your new car or moving into your new home while others are still waiting for the bank to call them back.
  • County records show we are consistently one of Mercer County's leaders in real estate lending.
  • Lower closing costs than many of our competitors.
  • You deal with us from the beginning to the end - You get your loan here, you make your payments here, your documents are kept here, your questions are answered here, and you pay off your loan here.
  • Complete line of loan services plus the expertise to help you decide which option is best for you

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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