The Peoples State Bank Mortgage Loan Programs
We believe that a mortgage loan isn't always a "one size fits all" situation. That's why we have several loan programs to fit a variety of needs. Browse some of our offerings below, then reach out to one of our Mortgage Loan Originators to apply!
This is a conventional fixed rate mortgage loan program with 10 to 30 year amortizations, for loan amounts up to $647,200. Minimum down payment of 5% is required.
This is a fixed rate loan during the construction of your home. A minimum down payment of 20% is required, but can include the land equity. This program features 9 months of interest only payments.
This is a fixed rate mortgage loan program with a 30 year amortization. This is for a primary residence only and one borrower must be a first time home borrower. Minimum down payment of 3% is required.
For a loan amount above $647,200, we offer our Jumbo loan program! Fixed rate for the first 5 years, amortized over 30 years. Loan must be a for a primary residence. Minimum down payment of 5% is required.
Looking to buy an investment property? We offer a program with a fixed rate mortgage and a 10 to 30 year amortization. Minimum down payment of 15% is required.
We offer an in-house non-conforming adjustable rate mortgage with a minimum 20% down payment for those loans that don't meet secondary market guidelines. Loan must be for a primary residence.
We offer an in-house land loan program with an adjustable rate mortgages and a 15 year amortization. Minimum down payment for improved land is 25% and minimum down payment for raw land is 35%.