Loan Programs

There are few milestones more exciting than purchasing your first home. More than just a roof over your head, your home is a place where memories are made, something you can truly call your own, and often is your most significant financial investment.

Whatever your next move is, we offer tailored mortgage and loan solutions aimed toward getting you into the home of your dreams. From South Central Pennsylvania to Central Maryland, we have loan options for all of your home financing needs!

How to Determine the Best Loan Program For Your Needs:

  • How important is payment certainty? If knowing that your payment will be the same every month is important, consider a fixed-rate mortgage.
  • How important is rapid equity buildup? If rapid equity buildup is a factor, consider a shorter amortization period, such as a 15-year, fixed-rate mortgage.
  • Other factors to consider include:
    • Ability to qualify at market rates for loan amount selected
    • Anticipated term of occupancy
    • Possibility of significant rate changes
    • Existing up-front costs
Loan Programs Characteristics
First Time Home Buyer Program
  • Must be a first time home buyer*.
  • Fixed interest rate, 30 year loan with no mortgage insurance.
  • 100% or less of median income for given area.
  • As little as 3% down, 1% of purchase price must come from borrowers own funds.
  • 6% maximum seller contribution.
  • All applicants are required to participate in First Time Home Buyer education.

*Borrower must not have had ownership interest in a property in the last three years.

Welcome Home Loan
  • Fixed interest rate 30 year loan with no mortgage insurance
  • No income limits
  • Property must be located in a qualified area**
    • Examples of a qualified area include areas within York City, Lancaster City, and Baltimore City
    • Ask us if your potential new home is in a qualified area or use the link and instructions below to find out
  • When used with the Zero Down Loan, 1% of purchase price must be contributed from own funds toward closing costs
  • 6% maximum seller contribution
  • All applicants are required to participate in a home buyer education course

**Census tracts designated by the Census Bureau as low to moderate income.

Zero Down Loan
  • 30 year fixed second lien to be used in conjunction with a PeoplesBank first lien
  • To be used toward a down payment of a single family, primary residence
  • Finance up to 100% of the home sales price
  • Must contribute 1% of purchase price from own funds toward closing costs
  • Gift funds and seller concession are permitted
  • Must be used with First Time Home Buyer Program or Welcome Home Loan
Fixed-Rate Mortgages
  • Interest rate does not change.
  • Principal and interest (P & I) payment does not change.
  • Fixed-rate mortgages fully amortize over a defined period of time and are paid in-full at the end of the loan term.
  • Different loan terms are available (10, 15, 20, 25, and 30 year terms are available).
  • The shorter the term, the faster equity is built and the loan is paid off.
Jumbo Fixed-Rate Mortgages
  • Loan amounts > $548,250 up to $2,000,000
  • Financing up to 90% of sales price or appraised value for refinances
  • Interest rate does not change
  • Principal and interest (P & I) payment does not change
  • Fixed-rate mortgages fully amortize over a defined period of time and are paid in full at the end of the loan term
  • 30 and 15 year loan terms are available
  • The shorter the term, the faster equity is built and the loan is paid off
Physicians Preferred Mortgage
  • Fixed rate mortgage options
  • 100% financing up to $750,000
  • Student loans are not included in total debt calculation
  • Eligibility available for residents, interns, fellows, MD, DO, DDS, DMD, VETD, and PHARMD
Adjustable-Rate Mortgages (ARMs)
  • There is potential for the interest rate/ payment to fluctuate.
  • ARMs transfer to borrowers a portion of the risk associated with a changing economy.
  • In exchange for sharing the risk, ARMs offer borrowers initial interest rates that may be substantially lower than fixed-rate mortgages.
  • The lower interest rate may help borrowers qualify more easily; qualifying factors may vary.
Construction to Permanent Mortgages
  • We provide a mortgage to build your dream home that has a construction period of up to 9 months and will automatically convert to permanent financing.
  • The construction mortgage is an ARM mortgage during the construction period with various conversion options.
  • Financing is available up to 95% of the lesser of the appraised value or acquisition cost, and lot equity can be applied towards the down payment.
  • Borrower pays “interest only” during the construction period as the home is being completed.
  • Flexible draw schedules to work with any construction project.
Refinance Loans
  • Fixed rate and adjustable rate loans
  • Available for primary residences and vacation homes
  • Financing up to 95% of appraised value for rate or term reduction refinances
  • Financing up to 80% of appraised value for cash out refinances
  • Closing costs can be wrapped into new loan – no cash out of pocket
  • Easy process and local processing
Home Renovation Program
  • For existing homes or new homes that need
  • Various program and term options available
  • Fixed rate option available for borrowers who meet
    secondary market guidelines
  • Flexible draw schedule options available
  • 4, 6 and 9 month build periods available
  • One time close with modification upon completion
    *Talk to a mortgage representative to see if the scope of your project qualifies for this program.
Lot Loans
  • Loans to purchase the perfect lot so you can start planning for the new home of your dreams.
  • Flexible programs to meet any budget while you complete the plans for your new home construction.
  • Financing available up to 90% of the lesser of the appraised value or purchase price for borrowers with credit scores of 720 and above, and up to 80% for credit scores below 720.
  • Minimum credit score is 660


Apply Online Today!

*Flexible terms available. Subject to credit approval. Program may be withdrawn at any time.
Additional terms and conditions may apply, see a representative for more details.
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