Home Equity Loan
A Peoples Bank Home Equity Loan is our newest way for you to take advantage of the Equity in your home. Peoples Bank Home Equity Loans offer:
- Low Closing Costs
- Predictable monthly payments
- No Continuing Cost
- Borrow up to 100% of the appraised value of your home
- Fixed rates as low as *5.99% APR
If you have any questions, you may contact us at 502-538-7301. You will be required to disclose the following information at the time of your application:
- Most current pay stub or W2's
- Copy of your Deed
- Most recent Property Valuation Statement
- Statement of current mortgage balance, if any
- Proof of insurance on property
Current Home Loan Rate
| Term | APR |
| 3 years | Discounted Rate 5.99%* |
*Subject to credit approval. This loan is an Adjustable Rate Home Equity Loan (ARM). The applicable interest rate may change from time to time based upon movements of an interest rate index. This discounted rate of 5.99% APR is for first three years only. After the discount period, the variable APR is based on the Prime Rate published on the last business day of the month in the Wall Street Journal (5.00% as of May 1, 2008). Discounted and variable interest rates vary depending on your credit qualifications, loan-to-value ratio (up to 100%), consumer choice of product structure, and payment from a Peoples Bank Mt. Washington account and the variable APR may range from Prime + 0% (currently 5.00% APR) to Prime + 5.00% (currently 10.00% APR), and will not exceed 24% APR. Advertised rate is valid for loans of $40,000 or greater. Other rates are available on loans of $10,000 to $39,999. $49 closing costs apply. A prepayment penalty of 2% of the original loan amount will be charged if the loan is paid out during the first five years. Other fees and restrictions may apply. Terms and conditions subject to change without notice. Please contact us for more information regarding rates, fees, terms, conditions.
IMPORTANT INFORMATION FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
