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Mortgage Loan Programs


Fixed Rate Mortgage Loans

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The most popular type of mortgage loan, a fixed-rate loan has a permanent interest rate, equal monthly payments, and is fully repaid over the term of the loan. A portion of each monthly payment covers the interest due on the loan, while the remaining amount goes towards paying down the principle balance. Regular payments reduce the loan balance until the loan is paid in full.


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There are many reasons to refinance your home.  Many people refinance to take advantage of lower interest rates. Maybe you have plans to do some remodeling or wish to help finance a college education.  Our home loan officers will provide the information you need to help you decide if refinancing is right for you.

First Time Homebuyer & Income-Assisted Loans

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Purchasing your first home can be both exciting and overwhelming. The home lending team at People’s Bank is committed to understanding your specific financial situation, explaining all of your mortgage options and making the process as hassle-free as possible.

Special loans are available with little money down if you meet certain income and housing criteria. Make the dream of owning a home a reality:



First Time Homebuyer Loans through FHA

FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration, which is part of HUD, insures the loan up to $422,500 in Jackson County. Considerations for FHA loans include:

  • Minimum down payment is 3.5% of the home’s sale price, which can come from a variety of documented sources including gifts or down payment assistance
  • Credit score requirements are more flexible
  • Non-traditional credit may be allowed
  • If former bankruptcy applies, a borrower may be eligible after two years
  • Non-occupant co-borrowers may be considered

100% Financing

The Guaranteed Rural Housing program through USDA offers homebuyers 100% financing, fixed rates, no monthly mortgage insurance and no subsidy repayment. Considerations include:

  • Up to 102% of the appraised value of the home may be borrowed (restrictions apply)
  • Flexible credit
  • Conforming lending limits apply
  • Maximum income limits apply

Down Payment Assistance

The City of Medford may assist a low to moderate income borrower to purchase a home within the city limits of Medford, Oregon. Considerations include:

  • Up to $15,000 towards down payment and closing costs is available to qualified borrowers 
  • Homebuyers must contribute a minimum of $1,000 of their own money
  • Down payment assistance loans are interest-free and the payment is deferred until the loan is refinanced, the home is sold, or the borrower is removed from the title.
  • Borrowers must first complete the ABCs of Homebuying Class through ACCESS, Inc.
  • Maximum income limits apply

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Home Construction Loans

Building a home is an exciting endeavor. At People’s Bank, we work with you to find a construction loan program that best suits your needs.