Mortgage and Home Equity Rates

There has never been a better time to buy a home. People’s Credit Union offers a wide range of programs to meet your needs.

All products and rates quoted are for Owner Occupied 1-4 family. Private Mortgage Insurance (PMI) required if Loan to Value (LTV) exceeds 80% or if noted otherwise. Other rates and terms may be available based on credit worthiness. Please contact a People’s Credit Union mortgage loan officer for additional details.

People’s Credit Union has a variety of additional terms available for you. If you would like more information on a product that you do not see listed on this page, please contact us at 401.846.8930.

How to Apply

Contact a mortgage loan officer in your area for more information or to find the program that’s right for you.

Adjustable Rate Mortgages

Effective Date: Sunday, July 24, 2016

Interest Rate Points APR* Monthly Payments
5 to 1 ARM 2.75% 0 2.96 Payments 1-60 $408.24
Payments 61-360 $408.24
7 to 1 ARM 3.25% 0 3.31% Payments 1-84 $435.21
Payments 85-360 $435.21
10 to 1 ARM 3.50% 0 3.56% Payments 1-120 $449.04
Payments 121-360 $449.04

 Interest Rates are subject to change without notice.

* Annual Percentage Rate (APR) subject to change without notice. 5 to 1 Adjustable Caps 2% - 6%, 7 to 1 Adjustable Caps 2% - 6%, 10 to 1 Adjustable Caps 5% after initial 10 years; 2% - 5% thereafter. Margin 2.50% Index .52% All payments quoted with beginning balance of $100,000.


Fixed Rate Mortgages

Effective Date: Sunday, July 24, 2016

Interest Rate Points APR* Monthly Payments
15 Year 2.625% 0 2.74% $6.73
20 Year 3.25% 0 3.33% $5.67
30 Year 3.50% 0 3.56% $4.49

 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 750 or higher. Other rates available based on creditworthiness. Rate offered with maximum Loan-To-Value (LTV) of 80%. Monthly payments are disclosed per $1,000.


3...2...1... Purchase Mortgages

Effective Date: Sunday, July 24, 2016

Interest Rate Points APR* Monthly Payments
7/1 ARM
Single Family
Owner Occupied Purchase Only
3.375% 0 4.20% Payments 1-84 $442.10
Payments 85-360 $442.10

 Interest Rates are subject to change without notice.

* Annual Percentage Rate (APR) subject to change without notice. 7 to 1 ARM Caps 2% - 6%. Index .52%. Maximum Loan to Value (LTV): 97% All payments quoted with beginning balance of $100,000. Minimum credit score 680. Maximum loan amount $417,000. Private Mortgage Insurance (PMI) required. Applicants may be required to complete a Home Buyer Education program prior to closing. Contact Mortgage Specialist for details. Other ARM products may be available.


First Time Home Buyers Program

Effective Date: Sunday, July 24, 2016

Interest Rate Points APR* Monthly Payments
10/1 ARM
Single Family
Owner Occupied Purchase Only
3.75% 0 4.74% Payments 1-120 $463.12
Payments 121-360 $463.12

 Interest Rates are subject to change without notice.

* Annual Percentage Rate (APR) subject to change without notice. Maximum loan amount $417,000. Purchase only. Cap: 5% after initial 10 years; 2%-5% thereafter. Margin: 2.50% Index: .52% Maximum Loan to Value (LTV): 59% Applicants may be required to complete a Home Buyer Education program prior to closing. All payments quoted with beginning balance of $100,000.


133% CLTV Home Improvement Loan

Effective Date: Sunday, July 24, 2016

Interest RatePointsAPR* Monthly Payment Per $1,000 Borrowed
133% CLTV Home Improvement Loan6.50%07.89%$11.35

Interest Rates are subject to change without notice.

*Annual Percentage Rate (APR) subject to change without notice. APR of 7.89% based on a credit score of 720 or higher, 120 month term, with a note amount over $50,000 and Combined Loan-To-Value (LTV) between 100.01% to 133%. Monthly payment of $11.35 per $1,000.00. Other rates and terms available based on creditworthiness. Single Family, Duplex or Condo, Owner-Occupied Primary Residence Properties only. Property insurance (and flood insurance if applicable) required. Maximum loan amount $250,000. If applicable, site inspections and title updates to be paid for by the homeowner.


Home Equity Line of Credit Special

Effective Date: Sunday, July 24, 2016

Interest RatePointsAPR*
Home Equity Line of Credit1.99%01.99%

 Interest Rates are subject to chnage without notice.

*Annual Percentage Rate (APR) of 1.99% is fixed for the first 6 months, followed by a variable rate based on the Prime Rate as published in The Wall Street Journal on the first business day of the month. Advertised rate based on a credit score of 720 or higher. Other rates and terms available based on creditworthiness. Maximum loan amount is $250,000; maximum loan term is 180 months. Minimum initial draw at closing of $25,000 in new funds. 1-4 family, owner-occupied, primary residence properties only; no closing costs. Property insurance (and flood insurance if applicable) required. Properties with a loan-to-value (LTV) of 80% or less only. APR will not fall below 4.00%. No annual fee for first year, $50 per year thereafter. New People’s Credit Union loans only.


Home Equity Line of Credit

Effective Date: Sunday, July 24, 2016

ProgramInterest RatePointsAPR*
Home Equity Line of Credit4.50%04.50%

 Interest Rates are subject to change without notice.

*Annual Percentage Rate (APR) subject to change without notice. Advertised rate based on a credit score of 720 or higher. Other rates and terms available on creditworthiness. Maximum loan amount of $250,000; maximum loan term is 180 months. 1-4 family, owner-occupied, primary residence properties only; no closing costs. Property insurance (and flood insurance if applicable) required. Properties with a loan-to-value (LTV) of 80% or less only. APR will not fall below 4.50%. No annual fee.


Expanded Home Equity Line of Credit (100% Financing)

Effective Date: Sunday, July 24, 2016

Interest RatePointsAPR*
15 Years6.00%06.00%

Interest Rates are subject to change without notice.

*Annual Percentage Rate (APR) subject to change without notice. APR of 6.00% based on a credit score of 720 or higher with a maximum Combined Loan-To-Value (LTV) of 100%. Other rates and terms available on creditworthiness. Maximum loan amount of $250,000; maximum loan term is 180 months. Single Family, Duplex or Condo, owner-occupied, primary residence properties only. Property insurance (and flood insurance if applicable) required. APR will not fall below 6.00%. No annual fee.


Fixed Rate Home Equity Loan (First Position)

Effective Date: Sunday, July 24, 2016

Interest RatePointsAPR*Monthly Payment Per $1,000 Borrowed
10 Years3.00%03.00%$9.66

 Interest Rates are subject to chnage without notice.

* Annual Percentage Rate (APR) subject to change without notice. Advertised APR based on a credit score of 750 or higher. Other rates available based on creditworthiness. Rate offered with maximum Loan-To-Value (LTV) of 80%. Monthly payments are disclosed per $1,000.


Fixed Rate Home Equity Loans (Second Position)

Effective Date: Sunday, July 24, 2016

PointsAPR*Monthly Payment Per $1,000 Borrowed
10 years05.00%$10.61
15 Years05.50%$8.17
20 Years06.00%$7.16

Interest Rates are subject to change without notice.

* Annual Percentage Rate (APR) subject to change without notice. Rate offered with maximum Loan-To-Value (LTV) of 80%. Monthly payments are disclosed per $1,000.


Expanded Equity (First Position - 100% Financing)

Effective Date: Sunday, July 24, 2016

ProgramInterest RatePointsAPR*Monthly Payment Per $1,000 Borrowed
10 Year4.50%04.50$10.36

Interest Rates are subject to change without notice.

* Annual Percentage Rate (APR) subject to change without notice. APR of 4.50% based on a credit score of 720 or higher with a maximum Combined Loan-To-Value (LTV) of 100%. Monthly payment of $10.36 per $1,000.00. Other rates and terms available based on creditworthiness. Single Family, Duplex or Condo, Owner-Occupied Primary Residence Properties only. Property insurance (and flood insurance if applicable) required. Maximum loan amount $250,000.


Expanded Equity (Second Position - 100% Financing)

Effective Date: Sunday, July 24, 2016

ProgramInterest RatePointsAPR*Monthly Payment Per $1,000 Borrowed
10 Years6.50%06.50%$11.35
15 Years7.00%07.00%$8.99
20 Years7.50%07.50%$8.06

Interest Rates are subject to change without notice.

* Annual Percentage Rate (APR) subject to change without notice. APR of 6.50% based on a credit score of 720 or higher with a maximum Combined Loan-To-Value (LTV) of 100%. Monthly payment of $11.35 per $1,000.00. Other rates and terms available based on creditworthiness. Single Family, Duplex or Condo, Owner-Occupied Primary Residence Properties only. Property insurance (and flood insurance if applicable) required. Maximum loan amount $250,000.