There has never been a better time to buy a home.
- Fixed-rate mortgages from 15 to 30 years.
- Adjustable-rate mortages with initial rates fixed for 3 to 10 years
- Special programs to help get you started
- Mortgage Loan Officers 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 you mortgage, this product is right for you. Terms available are:
- 15 Years
- 20 Years
- 30 Years
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
- 5/1 ARM
- 7/1 ARM
- 10/1 ARM
Special Programs
We have a number of special programs to help you get into your dream home sooner and with a lower down payment.
- First Time Home Buyers
- Construction Loans
- FHA/VA Loans
Meet our Mortgage Team
Whether you are buying or refinancing our Mortgage Loan Officers are available to assist you in finding the program that’s right for you. Check the background of your professional Mortgage Loan Officer by visiting NMLS® Consumer Access.
Rates
Active as of 06.10.2023
Featured Mortgage
Fixed Rate
| Product | Interest Rate | Points | APR* | Monthly Payments Per $100,000 |
|---|---|---|---|---|
| 15 Year Fixed Rate* | 5.875% | 0 | 6.17% | $837.12** |
| 20 Year Fixed Rate* | 6.00% | 0 | 6.23% | $716.43** |
| 30 Year Fixed Rate* | 6.375% | 0 | 6.56% | $623.87** |
DISCLOSURES
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.
Featured Mortgage
Adjustable Rate
| Product | Interest Rate | Term | Points | Monthly Payment per $100,000 | APR** |
|---|---|---|---|---|---|
| 5/1 ARM* | 5.75% / 5.75%* | Months 1-60 / Months 61-360 | 0 | $583.57 | 7.04% |
| 7/1 ARM* | 6.00% / 6.00%* | Months 1-84 / Months 85-360 | 0 | $599.55 | 6.95% |
| 10/1 ARM** | 6.25% / 6.25%* | Months 1-120 / Months121-360 | 0 | $615.72 | 6.89% |
DISCLOSURES
Interest Rates are subject to change without notice.
*Annual Percentage Rate (APR) subject to change without notice. Advertised APR based on credit score of 740 or higher. All payments quoted with beginning balance of $100,000. 5/1, 7/1 Adjustable Caps 2% – 6%. Margin 2.50% and current index 5.18%. **The second payment stream will be based on fully indexed rate or the floor rate if the floor rate is greater than the fully indexed rate. Escrow is required for Loan to Value (LTV) over 80%. The monthly payments are disclosed per $100,000. Rates do not take into consideration possible adjustments based on member’s credit score, loan-to-value, combined loan-to-value, subordinate financing, occupancy, appraised value, down payment, property type, property use and loan purpose. 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. The APR is subject to increase after closing. An LTV greater than 80% requires Private Mortgage Insurance (PMI) which would increase your monthly payment and APR. Other ARM products may be available.
**Annual Percentage Rate (APR) subject to change without notice. Advertised APR based on credit score of 740 or higher. All payments quoted with beginning balance of $100,000. 10/1 Adjustable Caps 5% after initial 10 years, then 2%-5%. Margin 2.50% and current index 5.18%. **The second payment stream will be based on fully indexed rate or the floor rate if the floor rate is greater than the fully indexed rate. Escrow is required for Loan to Value (LTV) over 80%. The monthly payments are disclosed per $100,000. Rates do not take into consideration possible adjustments based on member’s credit score, loan-to-value, combined loan-to-value, subordinate financing, occupancy, appraised value, down payment, property type, property use and loan purpose. 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. The APR is subject to increase after closing. An LTV greater than 80% requires Private Mortgage Insurance (PMI) which would increase your monthly payment and APR. Other ARM products may be available.
| PRODUCT | INTEREST RATE | TERM | POINTS | MONTHLY PAYMENT PER $100,000 | APR** |
|---|---|---|---|---|---|
| 5 TO 1 ARM | 2.875%/2.875% | Months 1-60/Months 61-360 | 0 | $414.89 | 2.97% |
| 7 TO 1 ARM | 2.875%/2.875% | Months 1-84/Months 85-360 | 0 | $414.89 | 2.97% |
| 10 TO 1 ARM | 3.25%/3.25% | Months 1-120/Months 121-360 | 0 | $435.21 | 3.35% |
DISCLOSURES
5 to 1 **Annual Percentage Rate (APR) subject to change without notice. Advertised APR based on credit score of 750 or higher. All payments quoted with beginning balance of $100,000. 5 to 1 Adjustable Caps 2% – 6%. Current margin 2.50% and current index 0.10%. ***The second payment stream will be based on fully indexed rate or the floor rate if the floor rate is greater than the fully indexed rate. Escrow is required for Loan to Value (LTV) over 80%. Monthly payments are disclosed per $100,000 with a 30 year term 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. The APR is subject to increase after closing. An LTV greater than 80% requires Private Mortgage Insurance (PMI) which would increase your monthly payment and APR. Other ARM products may be available.
7 to 1 **Annual Percentage Rate (APR) subject to change without notice. Advertised APR based on credit score of 750 or higher. All payments quoted with beginning balance of $100,000. 7 to 1 Adjustable Caps 2% – 6%. Current margin 2.50% and current index 0.10%. ***The second payment stream will be based on fully indexed rate or the floor rate if the floor rate is greater than the fully indexed rate. Escrow is required for Loan to Value (LTV) over 80%. Monthly payments are disclosed per $100,000 with a 30 year term 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. The APR is subject to increase after closing. An LTV greater than 80% requires Private Mortgage Insurance (PMI) which would increase your monthly payment and APR. Other ARM products may be available..
10 to 1 **Annual Percentage Rate (APR) subject to change without notice. Advertised APR based on credit score of 750 or higher. All payments quoted with beginning balance of $100,000.10 to 1 Adjustable Caps 5% after initial 10 years, then 2%-5%. Current margin 2.50% and current index 0.10%. ***The second payment stream will be based on fully indexed rate or the floor rate if the floor rate is greater than the fully indexed rate. Escrow is required for Loan to Value (LTV) over 80%. Monthly payments are disclosed per $100,000 with a 30 year term 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. The APR is subject to increase after closing. An LTV greater than 80% requires Private Mortgage Insurance (PMI) which would increase your monthly payment and APR. Other ARM products may be available.
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.
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.
