Mortgage Assistance Programs
Mortgage Assistance Programs to Help You Buy a Home
Saving for a down payment or closing costs can be a big challenge. Peoples Bank offers a variety of mortgage assistance programs designed to provide help buying a home, whether you’re a first-time buyer, a veteran or simply looking for financial assistance.
If you’re searching for help with buying a house, our experienced Mortgage Consultants are here to guide you through every step – from exploring loan options to closing day.
Down Payment Assistance & Homebuyer Support
Our team will guide you through available home loan assistance programs, including local and state down payment assistance programs, grant opportunities for eligible buyers and programs designed for first-time homebuyers.
VA Home Loans for Veterans & Active Military1
• 100% financing option for qualified applicants.
• Non-traditional credit history accepted.
• Seller or Lender may contribute to closing costs.
FHA Loans from Trusted FHA Lenders
As experienced FHA lenders, we offer government-backed home loans that are ideal for buyers who may need more flexible qualification options.
FHA loans can provide:
• Lower credit score requirements
• Reduced down payment options
• Competitive home loan interest rates
USDA Home Loans for Rural and Eligible Areas
• 100% financing option for qualified applicants.
• Up to 6% seller concessions permitted to be used for closing costs.
• Finance closing costs, available for qualifying collateral as determined by market value.
Dreams2Keys
Program
Get help buying a home with up to 100% financing2, no private mortgage insurance and a 1.00% rate discount for qualifying properties3.
Peoples Bank® Homeownership Fund
With the Homeownership Fund, receive up to $7,500 in assistance to help with down payment and closing costs, making it easier to move forward with buying a home.
Welcome Home Grant Program
Get up to $20,000 in grant funds to help with down payment and closing costs—available to qualified buyers on a limited, first-come basis each year.4
Personalized Mortgage Assistance
Every homebuyer’s situation is unique. That’s why we provide one-on-one mortgage assistance to help you:
• Understand your loan options
• Compare rates and financing terms
• Identify available assistance programs
• Navigate the application and approval process.
Start Your Homebuying Journey Today
Fill out the form to begin the homebuying process and get connected with a local Mortgage Consultant who can help you find the right home loan assistance.
Frequently Asked Questions
What is mortgage assistance and how does it help me buy a home?
Mortgage assistance includes programs and resources designed to make homeownership more affordable. These may include down payment assistance, grants and specialized loan programs that provide help buying a home.
Our Mortgage Consultants can review available programs and help determine which options you may qualify for when applying for a home loan.
What is the difference between down payment assistance and first-time homebuyer grants?
Down payment assistance often comes in the form of loans or grants to help cover upfront costs, while first-time homebuyer grants typically do not need to be repaid if eligibility requirements are met.
Who qualifies for first-time homebuyer loans?
Eligibility for first-time homebuyer loans varies, but many programs are available to buyers who have not owned a home in the past three years. Income limits and credit requirements may also apply.
Are FHA loans for first-time buyers?
FHA loans are popular among first-time buyers because they offer lower down payment requirements and flexible credit guidelines.
What are VA mortgage rates and who qualifies?
VA mortgage rates are typically competitive rates offered through VA-backed home loans.1 These loans are available to eligible veterans, active-duty service members, and certain members of the National Guard and Reserves.
Can I get help with buying a house if I don’t have a good credit score?
Yes! Some home loan assistance programs, including FHA loans, are designed to help buyers with less-than-perfect credit qualify for a mortgage.
How do I apply for a mortgage loan with assistance programs?
You can apply for a mortgage by working with a local Mortgage Consultant, completing an online application and submitting the appropriate financial documentation. Your Mortgage Consultant will review your information, discuss available home loan options and guide you through the next steps of the approval process.
What home loan assistance programs are available near me?
Available programs vary by location, but may include local, state, and federal options. Our team can help you find mortgage assistance programs near you and guide you through the application process.
NMLS# 617258
This is not a commitment to lend or extend credit. Conditions and restrictions may apply. Information is subject to change without notice. All loans subject to application, credit, and collateral approval. Peoples Bank is not acting on behalf of, or at the direction of the VA, FHA, the USDA, or the Federal Government. Consult a tax advisor regarding tax deductibility. Interest on loan greater than Fair Market Value is not tax-deductible. Other exclusions may apply. MIP is Mortgage Insurance Premium.
1VA loans require a VA certificate of eligibility and a non-refundable funding fee collected at closing. The fee varies with the amount of the down payment and is higher with no or low down payment options.
2Non-traditional credit history option only available for LTV up to 97%.
3Qualifying properties located within a Majority Minority census tract are eligible for a 1.00% discount on current available rate.
4Welcome Home Grant funds are available for low-to-moderate-income households purchasing a home. Act now, since this program will only last as long as FHLB funds remain available.