Real Estate First Mortgages
A mortgage loan from Peru Federal Savings Bank offers our customers peace of mind when it comes to monthly budgeting. With the help of one of our friendly loan officers, determining which type of loan is right for you will be easy.
Monthly Payment, Bi-Weekly Payment, and Balloon Loans
Monthly Payment loans are paid on the same day each month. Our Bi-Weekly Payment option is a loan that is paid every 14 days, allowing you to pay down the loan faster and pay less interest than with a Monthly Payment loan. Balloon Loans have a fixed payment for a specified amount of time, with one final balance or balloon payment due at maturity.
Escrow is an option (required with PMI*).
Peru Federal Savings Bank also offers its customers Construction Loans to help build your "dream home." These loans have a fixed interest rate determined by the term of the loan. Construction loans start off with a 9 month interest-only period during which draws can be made. After construction is completed, payments will change to principal and interest for the specified term.
USDA Rural Development Loans
A guaranteed loan by the United States Department of Agriculture, which allows homebuyers to receive a 100% financed loan with no requirement for mortgage insurance premiums. The term of this loan is 30 years with a fixed interest rate. Escrow is required. Applicants must meet moderate income limits, have acceptable credit history, and repayment ability. A guarantee fee of 3.50% of the loan amount is required.
Let Peru Federal Savings Bank Help Build Your Future…Our friendly, dedicated staff is ready to help make your loan process easy.
Use the Loan Calculator to Estimate your Loan Payment.
Check Out Our Loan Rates Here
*Private Mortgage Insurance