AboutAbout
CareersCareers
CommunityCommunity
LocationsLocations
Icon Image

Home Loans

  • Text Size:
  • A
  • A
  • A

Photo of couple getting a key from real estate agentYour Next Home is Waiting for You

Buying a home can be daunting. But when you work with the experts at Peoples Bank, they’ll do the heavy lifting.

Our real estate lenders work with you from the moment you spot the house of your dreams to the day that you walk in your front door for the first time. We actually live and work in our communities, and are never more than a phone call away (you’ll always talk to a live person). We know this can be a stressful process at times, but we’re here to make it easier!

We offer:

  • Conventional loans
  • USDA and FHA loan programs (for those who qualify)
  • Fixed and variable-rate options

 

Savings program for first-time homebuyers

Homeownership is something many families strive for, but it is difficult to save for a down payment on a first home. Fortunately, the Iowa Legislature has created an income tax credit for first-time homebuyers. This program isn’t limited to borrower’s themselves. The program allows for anyone to open an account and gift the money—as long as the funds are used toward the purchase of a first home.
 
Interested? Contact us to learn more! 
 
 

 

    • Janie Norton

      Janie Norton

      Lender

      NMLS: #464878
      Location: Carlisle Phone: (515) 989-3600
    • Mike Claussen

      Mike Claussen

      Residential Real Estate Lender

      NMLS: #31320
      Location: Indianola Phone: (515) 962-1400
 

“How do you judge my mortgage application?”

We’ll look at these six items (and possibly other factors) when considering your application:

  1. INCOME: We examine all sources of income. This helps us determine how much money is coming in on a monthly basis. As a rule of thumb, plan to spend no more than 28% of your gross income on your monthly house payment (principal, interest, taxes, insurance).
  2. PRESENT DEBTS: How much money do you presently owe to others (your monthly debt obligation) and to whom?
  3. CREDIT RATING: We’ll obtain a credit report from a credit reporting agency to find out your history with credit card companies, previous mortgages and bank loans, plus any public records dealing with financial matters. This is standard financial practice.
  4. DOWN PAYMENT: How much have you set aside for the down payment? Will it be a gift from a relative? There are other options for additional funding that we can help you explore if needed.
  5. ASSETS: After you’ve made the down payment and paid all closing costs, how has this affected your net worth?
  6. APPRAISAL: A certified appraiser may evaluate the house you plan to purchase, to determine the maximum loan amount.

All applications are subject to qualifying credit and underwriting approval.

Back to Top