Consumer Mortgage Loans

At The Peoples Bank, we are committed to helping our customers access the benefits of homeownership. We understand that different borrowers have different needs, and we are willing to develop loan plans that will help all kinds of customers achieve their varying financial goals. We will be your trusted advisor and partner throughout the lending process to make it simple and easy.

ProgramRateAnnual Percentage Rate*Monthly Principal and Interest Payment
30 Year Fixed6.75 percent6.77 percent$1,559.40
20 Year Fixed6.55 percent6.55 percent$1,799.42
15 Year Fixed5.99 percent6.02 percent$2,027.15
* The Annual Percentage Rates and monthly payments disclosed above are based on a Purchase Price of $300,000 with a 20% down payment for a purchase transaction or an appraised value of $300,000 in which the bank would use 80% loan to value for a rate/term refinance transaction. The loan amount used in these scenarios would be $240,000. Your actual APR may differ. Closing costs for listed loan terms and programs typically range from $5,500 to $8,000. The payments disclosed do not include amounts for taxes and insurance premiums. The total actual payment obligation with escrow will be higher. The applicable loan terms and customary fees for a typical loan were used to calculate Annual Percentage Rates and payments. Rates may change at any time. Homeowner Insurance is required. Flood Insurance may be required. Mortgages are subject to credit and property approval. The loan rates listed above are for principal residence properties. Other terms and conditions may apply. The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for federal income tax purposes, and the consumer should consult a tax adviser for further information regarding the deductibility of interest and charges.
The bank has other options such as First Time Home Buyer Loans, FHA loans, VA loans. Please call for details.

The Peoples Bank Mortgage Solutions

The Peoples Bank has many flexible mortgage programs to help make owning a home a reality, whether through the purchase or the construction of a home. Our Mortgage Solutions program is not just for homebuyers. We have loan programs that give the homeowner the opportunity to unlock the potential of the equity in their home to lower monthly payments through refinancing or bill consolidation. You can even get cash out to make that home improvement you have been always dreaming about.

Our mortgage loan programs have many different loan options available. We have the flexibility to evaluate what is the best loan product for your individual scenario. We use two sources for our mortgage lending program. The first source is our in-house loan products that provide flexibility and competitive loan terms for borrowers in our local market. These loans are approved and serviced by The Peoples Bank. The second source utilizes the secondary mortgage market that has creative loan products that help borrowers that have certain needs with their loan requests. The bank uses a strategic partner to offer these types of products through the secondary mortgage market. These loans are approved by the partner and not serviced by The Peoples Bank. The ability to have options in all lending scenarios helps our customers achieve their financial goals. Our mortgage solutions are listed below.

First-Time Home Buyer Mortgage

The bank has a mortgage solution that will help you purchase a home with a low-down payment. We have different First Time Home Buyer Programs to help you reach your goals. Our Conventional, VA, and FHA loan programs are different options we have available to help you become a homeowner. We also have options that allow lower fixed rates and terms for low to moderate-income borrowers. Please contact us for more information on these products.

Fixed-Rate Mortgage

Traditional fixed-rate mortgage options can help you to purchase a home with a low-down payment, refinance for a lower fixed rate, or get cash for other lending needs such as bill consolidation. This product gives you the ability to choose what loan term is best for your situation. A longer loan term allows for a low monthly payment whereas a shorter-term loan saves on finance charges. Please contact us for more information.

Construction Mortgage

We have a convenient mortgage solution that will help you build a home. Our construction mortgages are an in-house (Portfolio) mortgage product that has two phases. The construction phase is used to build the home through construction draws from your loan and you are only required to pay monthly interest-only payments on your loan balance. The permanent phase goes into effect when your home is complete, and your loan will automatically convert to a traditional fixed-rate mortgage that has both principal and interest payments. There is only one loan settlement and the interest rate will be locked in for both phases. Please find more about our portfolio mortgage product below.

VA Mortgage

This mortgage solution helps our active military and veterans to become homeowners. These products have competitive terms and rates, lower than a traditional mortgage. Our VA Mortgage solution allows for low down payment options for home purchases and high loan-to-values for refinances. This product also allows for refinances for lower rates and cash out for other needs such as bill consolidation or home improvement. Please contact us for more information.

Lot Loan Mortgage

Purchase and secure your lot before construction with our Lot Loan solution. We offer flexible and competitive loan terms to allow you the time necessary to plan and build your dream home at a pace that works for you. The Bank also offers construction/permanent loans that can help refinance the lot loan and enable the financing to build the new home. Please contact us for more information.

Portfolio Mortgage

A portfolio mortgage is a loan that will be provided and serviced by The Peoples Bank. This product allows for more flexibility due to the bank’s ability to use its own local underwriting guidelines compared to the national guidelines of the secondary mortgage market. We take a rational approach to lending while giving you the personalized customer service that you deserve through our community bank.

Visit any branch, or call 410-778-3500 for more information, or contact a lender directly by visiting our lender page or emailing us at

The Peoples Bank is always here to help as a trusted partner and member of the community. You may have heard the recent news of the two bank failures in the United States. We understand the uncertainty and questions that come along with circumstances like this. The Peoples Bank is a community bank with a track record that has proven successful for more than 112 years. We are well-diversified, and we are well-capitalized and liquid. Not only are we FDIC insured, we also have a vigorous risk-management plan and an experienced team of leaders. We take seriously the responsibility of being your financial partner for your business, for your family, and for our community. Please reach out to us if you have any questions. We’re always here.