There has never been a better time to buy a home.
- Fixed-rate mortgages from 15 to 30 years.
- Adjustable-rate mortgages with initial rates fixed for 5 to 10 years.
- Special programs to help get you started.
- Mortgage Advisors to help you find the right product.
- Local decision making from a Credit Union that cares about its members and community.
Mortgage Options
Fixed Rate
If you are looking to lock in the rate for the term of your mortgage, this product is right for you. Terms available are:
Adjustable Rate
If you are looking for a lower initial payment and are less concerned about your payment increasing in future years, take a look at our adjustable rate options. Available options are
Special Programs
We have a number of special programs to help you get into your dream home sooner and with a lower down payment.
Meet our Mortgage Team
Whether you are buying or refinancing our Mortgage Advisors are available to assist you in finding the program that’s right for you. Check the background of your professional Mortgage Advisors by visiting NMLS® Consumer Access.
Financial
Calculators
Our convenient financial calculators can help you make more informed decisions.
How much mortgage might I qualify for?
This calculator will help answer how much mortgage you might qualify for based on your total monthly gross income and expenses.
This calculator will tell you if the amount you save in interest will exceed these refinancing costs.
How much will my fixed rate mortgage payment be?
This calculator computes the payments (principal and interest) for a fixed rate loan.
This calculator computes the most expensive house you can buy based on the highest payment you can afford, but does not indicate whether you would qualify for the loan.
Which mortgage is better for me?
This calculator will help you compare the total cost of any two or three mortgages.
How much will I save by increasing my mortgage payment?
Find out how much interest you can save by paying an additional amount with your mortgage payment.
Related Products
Frequently Asked Questions
What can we help you with today?
Typically, the Mortgage process takes from 45 to 60 days for purchase and refinance loans. The closing date on a purchase transaction is dictated by the purchase and sale agreement.
First and foremost People’s does not collect any fees for you to apply. Closing costs vary depending on the type of mortgage and the amount of the mortgage you apply for, and will vary based on your situation. Fees are broken down into categories. For example, fees may be charged by outside venders for the Credit Report, Appraisal, Attorney Fee, Tax Service, or a Flood Certificate. There are also fees collected by the town such as recording fees and taxes. The only fees collected by People’s Credit Union are for underwriting the loan.
When you apply for a mortgage we must verify every statement made on the application relative to your income, debts, bank accounts, properties owned. We have a team of knowledgeable mortgage professionals that will help you every step of the way.
Based on your particular loan you may be able to pay your own taxes if you wish to do so.
We do sell and underwrite to secondary market (Fannie Mae) guidelines. However, we will service your loans, so you will always pay your mortgage directly to us.
You do not have to open an account before applying for any loan. However, you must become a member of the credit union before your loan closes. Becoming a member is easy. Simply open any type of deposit account that you wish. Each person on the loan must be named on at least one account.
Rates
Active as of 12.21.2024
Fixed Rate Mortgage
| Product | Interest Rate | Points | APR* | Apply |
|---|---|---|---|---|
| 15 Year Fixed Rate | 6.00% | 0 | 6.13% | Apply Now |
| 20 Year Fixed Rate | 6.25% | 0 | 6.36% | Apply Now |
| 30 Year Fixed Rate | 6.375% | 0 | 6.49% | Apply Now |
DISCLOSURES
*Annual Percentage Rates (APR) are lowest available and subject to change without notice. Account subject to individual approval. Conditions and/or restrictions may apply. Rates do not take into consideration possible adjustments based on applicant’s credit score, loan-to-value, combined loan-to-value, subordinate financing, occupancy, appraised value, down payment, property type, property use and loan purpose. Property insurance (and flood insurance if applicable) required. Payment amounts shown do not include taxes and insurance premiums which will result in a higher actual monthly payment. Mortgage insurance required if loan to value exceeds 80%.
- 15 Year Fixed Rate Mortgage at 6.00% (6.13% APR): 180 monthly payments of $8.44 per $1,000 borrowed
- 20 Year Fixed Rate Mortgage at 6.25% (6.36% APR): 240 monthly payments of $7.31 per $1,000 borrowed
- 30 Year Fixed Rate Mortgage at 6.375% (6.46% APR): 360 monthly payments of $6.46 per $1,000 borrowed
Adjustable Rate Mortgage
DISCLOSURES
*Annual Percentage Rates (APR) are lowest available and subject to change without notice. Rate may increase after closing. Account subject to individual approval. Conditions and/or restrictions may apply. Rates do not take into consideration possible adjustments based on applicant’s credit score, loan-to-value, combined loan-to-value, occupancy, appraised value, down payment, property type, property use and loan purpose. Property insurance (and flood insurance if applicable) required. Payment amounts shown do not include taxes and insurance premiums which will result in a higher actual monthly payment. Mortgage insurance required if loan to value exceeds 80%.
- 10/1 Adjustable Rate Mortgage at 6.375% (6.63% APR): 360 monthly payments of $6.24 per $1,000 borrowed
- 7/1 Adjustable Rate Mortgage at 6.25% (6.63% APR): 360 monthly payments of $6.16 per $1,000 borrowed
- 5/1 Adjustable Rate Mortgage at 6.00% (6.56% APR): 360 monthly payments of $6.00 per $1,000 borrowed
Active as of 12.21.2024
First Time Home Buyer Mortgage
| Product | Interest Rate | Points | APR* |
|---|---|---|---|
| Year 1* | 5.625% | 0 | 6.46% |
| Year 2* | 5.875% | 0 | 6.46% |
| Year 3* | 6.125% | 0 | 6.46% |
| Year 4-30* | 6.375% | 0 | 6.46% |
DISCLOSURES
*Annual Percentage Rates (APR) are lowest available and subject to change without notice.” Rate for years 4 – 30 is the “Base Rate”. Rate for year 1 is Base Rate minus 0.75%; year 2 is Base Rate minus 0.50%; year 3 is Base Rate minus 0.25%. Account subject to individual approval. Conditions and/or restrictions may apply. Rates do not take into consideration possible adjustments based on applicant’s credit score, loan-to-value, combined loan-to-value, occupancy, appraised value, down payment, property type, property use and loan purpose. Payment amounts shown do not include taxes and insurance premiums which will result in a higher actual monthly payment. Property insurance (and flood insurance if applicable) required. Mortgage insurance required if loan to value exceeds 80%. All borrowers must be a first time home buyer.
- First Time Home Buyer Mortgage, year 1 at 5.625% (6.46% APR): 12 monthly payments of $5.76 per $1,000 borrowed
- First Time Home Buyer Mortgage, year 2 at 5.875% (6.46% APR): 12 monthly payments of $5.92 per $1,000 borrowed
- First Time Home Buyer Mortgage, year 3 at 6.125% (6.46% APR): 12 monthly payments of $6.08 per $1,000 borrowed
- First Time Home Buyer Mortgage, years 4-30 at 6.375% (6.46% APR): 324 monthly payments of $6.24 per $1,000 borrowed
