There has never been a better time to buy a home.
Now is the time to make your dream of owning a home come true. Local decision-making from a local Credit Union that cares about its members and community.
Providing Rhode Island with Fixed Rate Mortgages
20-Year Mortgage Rates
A home loan with a repayment term of 20 years and an interest rate that remains the same throughout the life of the loan.
- Fixed interest rate
- Fixed payment amount
- 20-year loan
|Product||Interest Rate||Points||APR*||Monthly Payments
|15 Year Fixed Rate*||5.750%||0||6.03%||$830.41**|
|20 Year Fixed Rate*||5.875%||0||6.10%||$709.24**|
|30 Year Fixed Rate*||6.250%||0||6.42%||$615.72**|
Interest Rates are subject to change without notice.
*Annual Percentage Rate (APR) subject to change without notice. Advertised APR based on a credit score of 740 or higher. Other rates and terms available based on creditworthiness. Escrow is required for Loan to Value (LTV) over 80%. Monthly payments are disclosed per $100,000 and LTV of 80% or less. Payments do not include taxes or insurance and actual payment may be greater. Property insurance (and flood insurance if applicable) required. APR is accurate as of the effective date. An LTV greater than 80% requires Private Mortgage Insurance (PMI) which could increase your monthly payment and APR.
Frequently Asked Questions
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.
People’s Credit Union offers a full range of fixed and variable interest Mortgage Loans. Please visit our Mortgage page to learn more about our products and meet our Mortgage Lenders..
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.
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.