Federal Housing Administration (FHA) Mortgage Loan
Available in both fixed and adjustable-rate options.
An FHA mortgage is ideal for borrowers with little cash saved for a down payment. This program is also popular with first time homebuyers, as well as those with low to moderate incomes. Loans are insured by the Department of Housing and Urban Development (HUD). Ask about our fast and easy FHA refinance options as well.
- Local loan decisions.
- Flexible credit standards.
- Competitive rates.
- Owner-occupied, one-to-four unit properties (site built, condos and manufactured homes allowed).
- Minimum down payment of 3.5%.
- Gift funds from a family member are allowed for a down payment.
- Up to 6% seller contributions allowed (to cover closing costs, including discount points).
The Peoples Bank Difference
Whether you’re in the market to buy your first home, dream home or vacation home, our goal is simple – let’s make it work.
There are countless reasons to choose Peoples Bank for your home loan – from local loan decisions and on-time closings to great rates and fair terms, but we think the best reasons are our people. Our best-in-the-business team of loan professionals is ready to assist you every step of the way.
Questions? We’re here to help!
Email us or call (800) 584-8859
Subject to credit approval. Available to owner-occupied, single-family residences. Hazard insurance on the subject property is required. If the property is located in a Special Flood Hazard Area, we will require you to obtain flood insurance. Additional underwriting may apply for FHA loans. FHA loans are subject to upfront and annual mortgage insurance. Upfront mortgage insurance may be financed into the loan amount; annual mortgage insurance is paid monthly in the total monthly housing payment.