Mortgages & Home Loans
Mortgages, Lot Loans & Construction Loans For Your Home
Whether you have a home picked out to purchase or you know exactly where you want to build your dream home, Peoples Bank of Altenburg has experienced lenders to find the perfect lending solution for you. With a mortgage, lot loan or construction loan, you’re ready for every step of financing your home.
Ready to get started? Click here to start the Mortgage Application process.
Mortgages
Everyone has different plans for the future. That’s why Peoples Bank of Altenburg offers a variety of mortgage and home loan options that can help you no matter how long you’re planning on staying in your new home.
- Fixed rate mortgages- available in a variety of repayment options; great for those who want a consistent mortgage payment each month.
- Adjustable rate mortgages- the interest rate and monthly payment fluctuate over the period of the loan; a good choice for short-term ownership or if you expect your income to rise (more information from the Consumer Financial Protection Bureau on adjustable rate mortgages can be found here).
- Balloon mortgages- short-term fixed rate loans; great for those on a steady income or who will be living in the home for less than seven years.
- Bridge Loans- this loan allows you to use the equity from your current home toward the purchase of a new home.
Lot Loans
Lot loans are ideal for those who have found the perfect site for their future home. Lot loans at Peoples Bank of Altenburg are available in several repayment terms.
Construction Loans
Structured as a closed-end line of credit, construction loans allow you to make interest-only payments to help keep your monthly payment amounts down. You can borrow up to 80 percent of the costs associated with the project on a loan that usually has a term of about six months.
If you’re ready to build your new home, or to remodel your current home, a construction loan from Peoples Bank of Altenburg can help pay for your project.
Find Your Home Loan Solution Today
The Peoples Bank mortgage lending staff is ready to help find the best mortgage option to get you into the home you want. Click here to fill out a mortgage application online or stop by one of our branch locations to get started today.