Protection from rising interest rates for the life of the loan, no matter how high interest rates go. Adjustable-rate mortgage (ARM) Lower initial interest rate and monthly P&I payments than on a fixed-rate mortgage with a comparable term. Rates and monthly payments can change after the initial fixed-rate period. Jumbo loans

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In addition, the introduction of new non-HECM products, requires a bit more conversation as well.” In the end, guiding a borrower through the reverse mortgage loan process is perhaps more essential.

Home Mortgage Loan Products. Peoples Mortgage offers an array of home mortgage loan products. To get started, choose from one of the following products, or contact one of our home mortgage loan officers today. We’re honored to help veterans refinance or buy their homes with the VA loan. Zero down for home purchases and 100% refinancing.

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Mortgage: A loan to buy a piece of real estate. Mortgage Broker: An independent professional who matches borrowers with different lenders for a mortgage. Brokers work with multiple lenders and can present options for multiple loans. mortgage insurance: insurance that will pay a lender if borrowers don’t make their mortgage payments.

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The maximum loan amount is $75,000.00 and the minimum is $10,000.00. Contact any of our loan officers to see if our second mortgage product is right for you. We can take your application by phone or come in to any one of our convenient locations to apply. Typically, we can close this loan within 15.

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