Real Estate Mortgages

From purchasing your first home to refinancing your current mortgage, Peoples State Bank offers a wide variety of Real Estate products to make your life easier. 

Our Mortgage Types-

  • Home Purchase
  • Home Improvement
  • Home Refinance
  • Interim Construction / Permanent Finance
  • Land Purchase

Peoples State Bank offers Fixed-Rate Mortgages with no application fees. There are several different terms to choose from. 

The advantages of a Fixed-Rate Mortgage:

  • You will know exactly what your payments will be each month for the life of the loan
  • There is no stress if rates go up
  • The math involved with your loan is straightforward
  • It can save you money if you keep your loan long-term and rates go up

Although different loan types are available, we use the same, easy application and review process. Here is what you can expect:

1. Application

One of our Loan Officers will work with you to complete your application and gather the needed documentation.

2. Pre-Approval

In this step, your application will be reviewed and a credit decision will be made based on the information you provided to us. Your Loan Officer will advise you on the conditions that must be met to get your loan started and will collect additional information as needed. 

3. Appraisal

We will then order an appraisal for the property that you wish to purchase in order to determine the estimated property value and to ensure that your loan amount is sufficient.

4. Approved for Closing

Once the appraisal is reviewed the file will be evaluated for a final time to make sure all conditions have been met. We will then start to compile the loan closing package and get in contact with the Title Company of your choosing to set a closing date. 

5. Ready for Closing

Your Loan Officer will answer any questions you may have and walk you through the final amounts and disclosures for the closing of your mortgage. The Closing Agent with the Title Company will confirm with you the closing date and amounts required to close. 


Home Equity Lines of Credit

Peoples State Bank offers Home Equity Lines of Credit, which allow you to borrow against the equity in your home. Purposes for HELOCs could be:

  • Home Improvements
  • Bill Consolidation
  • Miscellaneous


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