Peoples Bank of Alabama is committed to helping you achieve your home ownership dream by offering you access to a variety of solutions to purchase, refinance or renovate your home. No matter your home financing needs, Peoples Bank of Alabama is here to help.
Which Mortgage Is Right for You?
Here at Peoples Bank of Alabama, we want to give you the ability to choose the right option for your situation, so we offer both Portfolio and Secondary Market Mortgages.
Portfolio Mortgage
This is a mortgage loan that is serviced by the bank and is generally an adjustable-rate loan. Our Portfolio Mortgage can be used for purchasing a home, building a new home, refinancing a home or using the equity in your home for a remodel. Since Portfolio Mortgages are serviced by your bank, payments can be made at your local branch, at one of our Video Teller Machines, or through mobile or online banking. Portfolio Mortgages offer flexible terms for changing needs, and our experienced team of Loan Officers are ready to help.
Secondary Market Mortgage
This is a loan we originate and then transfer to a secondary investor. The investor may service the loan or sell the loan to another investor or loan servicer. Secondary Market Mortgages can be used for home purchase or refinance with a fixed or variable rate for a term up to 30 years. There are also great options for government backed loans such as FHA, VA and USDA/RD loans that may have lower down payment requirements and other beneficial terms for eligible borrowers. We have an experienced team of Mortgage Loan Originators ready to help make your home purchase or refinance as easy as possible.
Both of these mortgage options have advantages. We want to help you achieve your dreams.
Our team will be with you every step, offering guidance and advice we've learned from years of experience. Let us answer your questions by contacting us today!
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Apply Now"Kent Howze and the Peoples Bank mortgage team do their job efficiently and with care. You feel that ʻsmall town bank’ family environment that is often lost in today’s world. You’ll feel like they actually care about you."
- Keith Lollar
“Jayme Bailey was very courteous and was prompt to return all phone calls. He was a man of his word and did what he said he would do! We would definitely do business with Peoples Bank again!”
- Jason & Danielle Farris