Mortgage Options

It's possible to get more than a competitive rate.

Whether you’re buying your first home, building your dream home or just looking to refinance, PeoplesBank has a passion for making home ownership possible.

Low Down Payments
Experienced Mortgage Consultants
Free Preapprovals
Great Rates

$500 offer valid on home purchase and refinance applications received by May 31, 2012 and closed by July 31, 2012. Effective March 22, 2012.

Fixed Rate
Adjustable Rate Mortgage
First Time Home Buyers Program
Construction
& Land Loan
FHA
MassHousing

Fixed Rate Mortgage

Lock in one of today's low interest rates, and know that your monthly principal and interest payments will never change. Choose from a variety of terms with competitive rates.

Type of Borrower	Features
Borrowers with at least 5% down payment¹ on a single family home or 20% down payment¹ on a two family home.	Free Pre-Approval Rate-lock options available No-Point options available Owner occupied

Non-Owner Occupied Property

Type of Borrower	Features
1 to 4 Family Investment Properties	Fixed Rate Loan Minimum 20% down payment¹ Payment includes escrow for taxes

¹Annual Percentage Rate (APR) assumes a 20% down payment. The actual interest rate, points and delivery fees available to you will be based on your credit history, loan-to-value ratio and other factors and may be different than rates posted here. Fixed rate loans are intended for sale in the secondary market and must meet investor guidelines. Rates posted are for purchase money, single family, owner-occupied properties. Maximum loan amount is $417,000. Rates for other residential property types are available. Please ask us for details.

Adjustable Rate Mortgage (ARM)

Looking for lower, more affordable initial monthly payments? Although your interest rate and monthly payment are locked in only for a specified initial period - and may vary, up or down, thereafter - annual and lifetime rate caps can protect you from large increases.

Type of Borrower	Features
Borrowers who expect to stay in the house for a short period of time.	Rate adjustment period choices "No-Point" options available Maximum rate adjustment of 2% per review; 6 % over life of loan Free Pre-Approval

Non-Owner Occupied Property

Type of Borrower	Features
1 to 4 Family Investment Properties	Adjustable Rate Loan Payment includes escrow for taxes

First Time Home Buyer Programs

Dreaming of owning your own home? Our first-time homebuyer (FTHB) programs are designed to help make your homeownership goals possible. These programs are available for purchase financing anywhere within our lending area. Contact a Mortgage Consultant or Apply Online today!

	FTHB 5/1 Program	Other FTHB Option
Terms	5/1 ARM	Fixed or Adjustable
Down Payment¹	As low as 3%	As low as 3%
Rates	Check Rates	Check Rates
Credit Toward Closing Costs	Up to $2,000*	$500*
Property Types	1-2 Family Homes	1-2 Family Homes
Maximum Household Income	$90,990	$90,990
Other Requirements	Homebuyer workshop must be completed	Homebuyer workshop must be completed

* Credit may not be combined with any other offer.
¹Annual Percentage Rate (APR) assumes a 20% down payment. The actual interest rate, points and delivery fees available to you will be based on your credit history, loan-to-value ratio and other factors and may be different than rates posted here. Fixed rate loans are intended for sale in the secondary market and must meet investor guidelines. Rates posted are for purchase money, single family, owner-occupied properties. Maximum loan amount is $417,000. Rates for other residential property types are available. Please ask us for details.

Construction Loan

You can choose a fixed rate or adjustable loan to finance your construction project, and all with just one closing. Finance up to 90% of the construction cost or appraised value (whichever is less) of your new home, and you'll make interest-only payments during construction. Your mortgage may include up to 80% of the land cost.

Type of Borrower	Features
Borrowers who wish to build their home on a lot of their choice.	Fixed or adjustable rate options Interest Only payments during construction One Closing - mortgage will convert to a permanent mortgage after the construction period; no need to refinance Up to 90% financing of construction cost or appraisal (whichever is less)

Land Loan

Interest only option gives you affordable payments until you are ready to build. A fixed principal and interest loan is also available. Speak with one of our mortgage consultants for more details or to apply.

FHA Mortgage

Looking for flexible credit standards and a low down payment option? FHA requires as little as 3.5% down payment, making it easier to qualify. Speak with one of our mortgage consultants for more details or to apply.

Type of Borrower	Features
Not restricted to a First Time Home Buyer Flexible credit standards	Low down payment - as little as 3.5% Down payment¹ may be gift or grant

¹Annual Percentage Rate (APR) assumes a 20% down payment. The actual interest rate, points and delivery fees available to you will be based on your credit history, loan-to-value ratio and other factors and may be different than rates posted here. Fixed rate loans are intended for sale in the secondary market and must meet investor guidelines. Rates posted are for purchase money, single family, owner-occupied properties. Maximum loan amount is $274,850. Rates for other residential property types are available. Please ask us for details.

MassHousing

MassHousing Mortgage

The MassHousing Mortgage program offers competitive interest rates with low down payment options. This affordable loan from the state’s housing bank is just right for first-time homebuyers as well as those looking to refinance. With its flexible underwriting and fixed rate financing, it’s the perfect mortgage loan.

Type of Borrower	Features
First time homebuyers and available to consumers that do not currently own any other property Low and Moderate income homebuyers	Up to 97% Loan to Value (95% on 3 to 4 family units) MIPlus (mortgage insurance) including job loss benefit Maximum income limits apply

MassHousing Priority Borrower

The Priority Borrower program offers first-time home buyers a below market interest rate with very little money down. This affordable loan from the state’s affordable housing bank is perfect for homebuyers looking for a fixed rate loan with a low-down payment option and flexible underwriting.

Type of Borrower	Features
First time homebuyers with incomes at or below 80% of area median income.	Reduced rate Maximum loan amount and income limits apply

MassHousing "Home for the Brave"

In recognition of our veterans, this option offers affordable, no-downpayment mortgages for veterans of the U.S. Armed Services living in Massachusetts. Speak with one of our mortgage consultants for more details or to apply.

Type of Borrower	Features
Active Military and Reservists Veterans of the U.S.Armed services living in Massachusetts Surviving spouses of military who lost their lives in line of duty	100% financing for single family homes 97% financing for 2,3, and 4 family properties Discounted interest rate for a minimum of 10 years Purchase or refinance Up to $1500 grant money available per loan for third party closing costs Income limits and restrictions apply