Mortgage Options


Owning your first home is a major milestone.

Let us help make memories that will last a lifetime with First-Time HomebuyerPlus...

For your own piece of the Valley.

  • Low down payment of 3%
  • $500 off closing costs
  • Reduced Rate
  • Reduced PMI costs
  • Annual income limit to qualify
  • Loan limit of $417,000

Stop by a branch today to find out more or apply online now.

Fixed Rate

Fixed Rate Mortgage  Apply

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 payment on a single family home or 20% down payment on a two family home.
  • Rate-lock options available
  • Owner occupied

Non-Owner Occupied Property

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


Adjustable Rate

Adjustable Rate Mortgage (ARM)  Apply

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
  • Maximum rate adjustment of 2% per review; 6 % over life of loan

First Time Home Buyer

First Time Home Buyer Programs  Apply

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 Program 5/1 Advantage Plus Fixed
Terms 5/1 ARM 30 Year Fixed 30 Year Fixed 30 Year Fixed
Down Payment As low as 3%1 As low as 3%1 As low as 3%1 As low as 3%1
Rates Check Rates Check Rates Check Rates Check Rates
Credit Toward Closing Costs $5002 $5002 $5002 $5002
Property Types 1-2 Family Homes 1-2 Family Homes 1-2 Family Homes 1-2 Family Homes
Maximum Household Income $91,385 $54,500 (Hampden, Hampshire, Franklin, Berkshire) $68,200 (Hampden, Hampshire, Franklin, Berkshire) $91,385 (Hampden, Hampshire, Franklin, Berkshire)
Other Requirements Homebuyer workshop must be completed Homebuyer workshop must be completed Homebuyer workshop must be completed Homebuyer workshop must be completed

1 Single family properties only. Other options available. An eligible first-time homebuyer includes any borrower who has not held an ownership interest in a principal residence at any time during the three years preceding the projected closing date of the mortgage to be financed by PeoplesBank.

2 Credit may not be combined with any other offer.

To qualify for a First-Time Homebuyer program, a bank approved homebuyer workshop must be completed.


MassHousing  Apply

MassHousing Mortgage

The MassHousing Mortgage program offers competitive interest rates with low down payment options. This affordable loan 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
  • Low and Moderate income homebuyers
  • Up to 97% Loan to Value (95% on 2 to 4 family)
  • MIPlus (mortgage insurance) including job loss benefit
  • Maximum 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



Holyoke, Massachusetts 01040 | 413.538.9500 Connects to All Offices
  • DIF
  • FDIC
  • Equal Housing Lender