Mortgage Loans

At New Peoples Bank, we aim to make buying or refinancing your home as easy, simple, and secure as possible.

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Our Mortgage Team

Seth Thomas

Seth Thomas

Mortgage Loan Originator
NMLS# 2355796
(276) 525-1731

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Buying or Refinancing

Buying or refinancing your home is exciting, but can be a challenging experience if you don't understand the process. Our mortgage team can help and we are waiting to work with prospective buyers and current homeowners. At New Peoples Bank, we aim to make the experience as easy, simple, and secure as possible. With our variety of real estate loan options, we're sure you'll find one that's right for you.

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Mortgage Products

Let New Peoples Bank and our team of expert mortgage lenders help you find the mortgage product that is a perfect match for your needs. Whether you're purchasing a new home, refinancing your current home, constructing a new home, or even remodeling your current home, we have the perfect mortgage lending option to match your needs. 

  • Fixed Rate Mortgage - Features a fixed interest rate for the entire term of the loan with a consistent interest rate from beginning to end. Simply put, rates and payments remain constant, making this ideal for those looking to stay in their home for an extended period of time with a consistent payment amount.
  • Adjustable Rate Mortgage - This home loan has a variable interest rate that fits the needs of those who may plan to live at their home for a shorter amount of time or expect that rates may decrease in the future. There is typically a lower introductory interest rate, which changes at predetermined times throughout the life of the loan.
  • Bridge Loan - A short-term loan that bridges the gap between purchasing a new home and selling the previous home, helping you get into your dream home faster.
  • Construction-to-Permanent/Renovation Mortgage (One-Time Closing) - This home loan allows you to buy land and build a home on it. We work closely with building contractors to customize a construction process. After your home has finished construction, this loan will become your mortgage.
  • Home Equity Line of Credit (HELOC) - Do you have a great home improvement idea? Maybe you need money for unexpected expenses. A Home Equity Line of Credit allows you to use the equity in your home for expenses or other situations as they arise. The interest may be tax deductible for home improvement expenses.
  • Renovation Loan - A fixed-rate mortgage loan for consumer home renovation purposes including repairs, updates, and remodels.
  • Unity Mortgage Program - A special mortgage loan program to meet the needs of Medical Professionals (Nurse Practitioners, Licensed Practical Nurses, Registered Nurses, Optometrists, Ophthalmologists, Nurse Anesthetists, Pharmacists, Veterinarians), PHD level Professors, CPAs, CFPs, Lawyers, Architects, and Engineers. This loan features a fixed rate, financing up to 100% Loan-to-Value, 15 or 30 year loan terms, and no origination fees.
  • FHA Loan - An FHA loan is a mortgage that is insured by the Federal Housing Administration. These loans are an affordable option that typically require a lower down payment with lower closing costs. Borrowers that may qualify for an FHA loan are required to purchase mortgage insurance, with the premium payments going to the FHA.
  • VA Loan - Available to eligible service members, veterans, or family members, a VA loan provides up to 100% financing and limited closing costs, along with other benefits that make this loan option an excellent choice to those who qualify. 
  • USDA Loan - A USDA loan is backed by the government and guaranteed by the U.S. Department of Agriculture. This loan, if eligible, is perfect for those who may not have as much to put toward a down payment and closing costs.

Mortgage Resources

You may apply online, check rates, or utilize other mortgage resources by clicking below.

Mortgage Resources

Contact Us

If you prefer, contact us at 276-873-7000, and a loan officer will be happy to walk you through the process.


You may find it easier to begin the process at home by printing and filling out some documents and bringing them with you. If so, please print and provide a completed Real Estate Loan Application.

Prequalification & Preapproval

When you begin looking for your dream home, you have probably already heard that you should get prequalified or preapproved for a mortgage. Knowing how much house you can afford before you begin looking can greatly help you make the strongest offer possible on the property you choose. It is important to understand the differences between these two processes.

  • A prequalification is an initial review of your finances and is completed without a credit report and will not go through a full credit underwriting process. A prequalification is an estimate for credit given by a lender based on information provided by a borrower and does not include an analysis of a credit report. Borrowers with a prequalification normally do not supply documentation during this stage. You will simply supply the lender with the overall financial picture.
  • A preapproval is more in-depth than a prequalification. A preapproval includes a full credit underwriting process. This will require a mortgage application, a credit report to be acquired, and you may be required to provide information or documents like bank statements and pay stubs to prove your income and the funds you're using to get the loan.
    • The preapproval is a written commitment that is subject to the following conditions:
      • Identification of suitable property
      • Appraisal
      • No material change has occurred in the applicant's financial condition or creditworthiness prior to closing
      • Limited conditions that are not related to the financial condition or creditworthiness of the applicant that the lender ordinarily attaches to a traditional home mortgage application (such as certification of a clear termite inspection) 

Preapprovals can be obtained with an online application. A prequalification must be discussed with a Mortgage Loan Originator.

Information Checklist

Contact us today for a free, personalized consultation. With interest rates at record lows, don't miss your opportunity to seize the moment! Call today and you will find the skill, professionalism, and consideration we give to each of our clients which make getting your loan a successful endeavor. Why wait? Let us get to work for you. Call today to analyze your financial needs!

  • 30 Days most recent paystubs for each borrower
  • Last 2 years of Federal Tax Returns - All pages
  • Last 2 years of W2's (1099 if not a W2 employee)
  • Additional returns may be requested
  • 2 most recent months' Bank Statements - All pages for checking, savings, retirement, stocks, etc.
  • Copy of Driver's License, US Residency Card or Gov't Issued ID
  • Ratified Contract

For a refinance (in addition to the above items)

  • Copy of the Deed to the property
  • Current Mortgage Statement
  • Copy of Homeowner's Insurance Policy

The DOs and DON’Ts of Your Loan Process

While your loan is being processed there are certain "DOs and DON'Ts" which can have an effect on the outcome of your loan request. The following list of items will remain in effect not only until your loan has been approved, but until the loan is actually funded and recorded. In many instances, your credit, income and assets must be re-verified after you have signed your final loan documents.

We strongly suggest that you comply with the following lists:


  • Keep all existing accounts current, such as mortgages, car payments and credit cards.
  • Make payments on all accounts on or before the due date, even if the account is being paid off with the new loan. If you have any problems making these payments, please contact your loan officer immediately.
  • Keep copies of all paycheck stubs, bank account or asset statements, along with any statements for bills being paid off through this loan.


  • Quit your job or get another job unless it is in the same line of work and for equal pay or more money. Please call your loan officer if this should occur.
  • Allow anyone to make an inquiry on your credit report.
  • Purchase an automobile.
  • Purchase any other real estate.
  • Co-Sign for anyone else on any type of loan.
  • Apply for credit, take on additional debt or complete any other credit application.
  • Charge additional debt on any existing credit account that you have.
  • Start any home improvements that are not a condition of this loan.

We offer a variety of affordable loan options and competitive interest rates, and we're by your side every step of the way.

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