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