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Peoples Bank® Homeownership Fund

Peoples Bank® Homeownership Fund

$7,500 AVAILABLE FOR QUALIFYING BORROWER(S)

The Peoples Bank® Homeownership Fund is a specialized loan program to help low to moderate-income borrowers purchasing a home in a Majority-Minority Census Tract. Affordable financing options and down payment assistance can help you comfortably transition into your new home.

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What is the Peoples Bank® Homeownership Fund?

The Peoples Bank® Homeownership Fund offers $7,500 to qualified borrowers in a Majority-Minority Census Tract area. You’ll work with a local mortgage consultant to evaluate financing options so you receive a loan option that best fits your homeownership journey.

Experienced Mortgage Consultants

Receive direct access to our mortgage consultants who can guide you through each step of the homebuying process and answer your questions with confidence.

Online Applications

Secure online application that make it easy to apply anytime, anywhere.

Online Banking to Manage Your Loan

Convenient loan management through online banking or the Peoples Bank mobile app, giving you access to your account details and payment options.

Peoples Bank® Homeownership Fund Details


Financial Assistance Available

$7,500 available for qualifying borrower(s).


How Funds Can Be Used1

Funds may be used for down payment and up to $5,000 may be used for closing costs and prepaid items.


Income Guidelines Apply2

Income limits apply.


Property Location Requirements3

Property must be located in a Majority-Minority Census Tract area.

Mortgage Origination & Maintenance4

Borrower(s) must originate and maintain a first mortgage with Peoples Bank for a period of at least five years.

Primary Residence Requirement5

Borrower(s) must maintain ownership and reside in the property as their primary residence for a period of five years (Retention Period) from the date of the loan closing or project completion.

How to Apply for Homebuying Assistance

Interested in learning more about the Peoples Bank® Homeownership Fund or applying?
Fill out the form below and a Mortgage Consultant will contact you.

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1Borrower may use up to $5,000 toward closing costs. DPA funds are not permitted to be used for discount points to subsidize the interest rate.

2Applicant(s) documented income must be at or below 80% Mortgage Revenue Bond (MRB) for the county and state where the property is located.

3The subject property must be located within a Majority Minority census tract that has greater than or equal to 50% minority population.

4Homeownership Fund only available in conjunction with a first mortgage purchase loan with Peoples Bank.

5To avoid being required to pay back any portion of the fund, Peoples Bank must hold the first mortgage on your primary residence for a period of five years.  

This is not a commitment to lend or extend credit. 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 the directions of, the VA, FHA, the USDA or the Federal Government. Payment of taxes, insurance, discount points and HOA fees are the responsibility of the borrower. Consult a tax advisor regarding tax deductibility. Interest on loan greater than Fair Market Value is not tax deductible. Other exclusions may apply.

NMLS#617258

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