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Home Mortgages and Loans Mortgages

Mortgages

Peoples Bank of the South specializes in Conventional Loans and Construction Loans.

Mortgage Loans
A major commitment. Peoples Bank of the South wants to make it a pleasant event.

Secondary Market
Protection from rising interest rates.

100% financing available for primary residences.
95% financing available for secondary residences.
90% financing available for cash-out refinancing.
85% financing available for investment properties.
Estimated closing time is 4 weeks.

In-house

Fixed rate financing.
Can be paid automatically from your Peoples Bank of the South deposit account.
Estimated closing time is 2 weeks.
Closing costs are significantly lower for the in-house loans. Let us run the numbers for you.

Home Equity Line of Credit (HELOC)

Revolving line of credit.
Borrow up from $5,000 to $100,000.
As loan is paid down, those funds are once again available to borrow again for various reasons.
Qualified customers may borrow up to 85% of the equity in their home.
No closing costs for amounts over $19,999.99.
If made at first mortgage loan closing, there are never any closing costs.

Construction

Financing can be used for primary residences, secondary residences investment properties or spec homes.
An optional one time closing loan available to combine both construction and permanent financing.
We do finance loans for non-licensed builders.

Cash-out Refinancing

Get a lower rate and consolidate debts at one low rate.
Closing costs may be included in the new loan.

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Mortgage FAQs

Looking for a Quote?

Information Needed for "Refinance" Quote

Current Mortgage Balance.
Annual Insurance Premium.
Annual Property tax.
Current Rate on Your Mortgage Loan.
Current Payment Amount.
Remaining Years on Current Mortgage.

Information Needed for "Purchase" Quote

Sales Price.
Amount of Down Payment.
Number of Years for Mortgage.

Please contact Logan Hickman for more information:
In Campbell, phone (423) 562-4921 - From Knoxville, call 457-8333.
Fax: (865) 429-7550
Email: loganh@peoplesbanksouth.com

In Anderson County, call our Norris-Clinton office at (423) 457-3500.
In Scott County, call our Oneida office at (423) 569-2887.

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Temporary Liquidity Guarantee Program

Our institution has chosen NOT to participate in the FDIC's Transaction Account Guarantee Program. Our customers with non-interest bearing transaction accounts will continue to be insured through December 31,2013 for up to $250,000 under the FDIC's general deposit insurance rules. Not one penny of insured deposits has ever been lost by a customer of a federally insured bank. Only federally insured institutions can make this statement, "backed by the full faith and credit of the United States government."

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