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Home Loans

Financial Flexibility: The Case for a HELOC

Posted On: April 19, 2021 by The Peoples Community Bank in: Home Equity, Home Loans

David Jones, Lender - Spring Green

One of the most underrated products in banking today is the Home Equity Line of Credit or HELOC.

What is it? How can you use it? Why would you want to?

Consider this, in lending a crucial component of whether a loan is approved or not is collateral. The greater the value of the collateral, the less risk the financial institution must assume, the better the rate and a greater likelihood that the loan will be approved. A HELOC is exactly...

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Advice For First-Time Homebuyers

Posted On: April 19, 2021 by The Peoples Community Bank in: Home Loans

By Joe Gorman  Posted: 2/22/19

The Story

It was one day after my 30th birthday. My fiancé and I had a showing scheduled for a house that we’d found online. This house was not all that different from the fifteen or so other homes that we had viewed over the course of the previous nine months. It looked great on paper (and in pictures). Most importantly, it checked all of the boxes on our wish list: 

The town had plenty to offer It was within...
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Wondering How Much of a Home Loan You Can Afford? Live With It.

Posted On: April 19, 2021 by The Peoples Community Bank in: Home Loans

By Mary Lynn Johnson, Mortgage Lender | Posted: 4/23/19

There are few financial decisions that are larger and more daunting than buying a home. I’ve worked with hundreds of home buyers over the years and one of the biggest questions I hear from my clients is, “How much can we afford?”. There are many factors that go into the “affordability equation”, but the advice I give most often is to live with it for a while. In other words, pretend that you’re...

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Should I Refinance My Home

Posted On: April 19, 2021 by The Peoples Community Bank in: Home Loans

By Tom Gainor, Mortgage Lender | 7/29/19 

Refinancing your mortgage can save you money. That is true in many cases but timing, personal circumstances and market conditions are key components in the refinancing equation. 

Factors to consider How Long You Plan to Stay in the Home

The first step in deciding whether or not to refinance is to estimate how long you plan to stay in your home. If you plan to move in the next few years it may not make sense to pay...

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Getting Prequalified For a Home Loan

Posted On: April 19, 2021 by The Peoples Community Bank in: Home Loans

By Stacy Dyreson, Mortgage Lender | 11/19/19 

“I’m interested in buying a house. Where do I start?”

A great jumping off point for anyone looking to buy a house, whether you’re a first time home buyer or you’ve been through the buying process before, is getting prequalified. In the current market most realtors will ask for a prequalification letter from your lender before they’ll begin showing you houses. The reason for this is that homes...

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