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Mortgage Loans

Buying a new home is exciting but can also be overwhelming. Don’t let the stress of mortgage shopping detract from the experience. Peoples Bank is proud to offer a wide variety of home loans. The two most common types of mortgage are Fixed Rate Mortgages and Adjustable Rate Mortgages (ARMs). At Peoples Bank, we make the mortgage process simple. Our Mortgage Experts are available to answer all of your questions and get you one step closer to your new home.

Apply Online in 20 Minutes!

Fixed Rate Mortgages

Fixed Rate Mortgages take the guesswork out of budgeting for your new home. When you agree to a Fixed Rate Mortgage, you lock in a defined interest rate for the life of your loan. Your monthly payment will remain the same, and you can approach your household budget with confidence. Fixed Rate Mortgages work well whether you’re a first-time homebuyer or a homeowner looking to refinance or to simply purchase a new home. If interest rates are low or you plan to keep your home for many years, a Fixed Rate Mortgage can provide stability for your budget. Apply Online!

Adjustable Rate Mortgages (ARMs)

The interest rate on your Adjustable Rate Mortgage changes over time and affects your monthly payment. If interest rates rise your monthly house payment will increase at the time of your adjustment. On the other hand, if interest rates drop you’ll benefit from a lower mortgage payment when your ARM adjusts. Each ARM loan is different and defines how often your interest rate will adjust.  Adjustable Rate Mortgages are a good choice for homebuyers who plan on selling after only a few years, or in market conditions where interest rates are poised to decrease. Apply Online!

What Do I Need to Apply?

At Peoples Bank, applying for a loan is simple. You’ll need basic identifying information such as the applicant’s name, address, date of birth, and driver’s license number. Just visit our online Mortgage Center to apply or to find a mortgage lender in Iowa, South Dakota, or Minnesota. Our online application can be completed in as little as 20 minutes! If you would like to speak with a member of our team, contact us.  Our Mortgage Experts are ready to answer your questions and assist with the application process.


Do you have questions regarding the home loan process? We've compiled some Frequently Asked Questions to help! Click the button below to learn more!


Why Choose Peoples Bank?

Peoples Bank is proud to provide our customers with a knowledgeable lending team, who cares about you. As your hometown bank, we provide a variety of loans to help enrich and support our communities. We’re dedicated to our communities and look forward to helping you achieve your dreams. Stop by one of our ten convenient locations or contact us today!

Related Blogs

Check out articles from our blog to learn more about buying a home!

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