Monthly Archives: April 2015

Know Your Mortgage Options

Spring and warmer weather are on their way again soon, meaning the prime time for buying and selling homes is as well. Purchasing a new home is no small decision. It is something that requires a lot of time planning and ensuring your finances are in order. It also requires that you get the right mortgage in place. Having the right mortgage for your needs is essential, as the wrong mortgage type can lead to spending hundreds or thousands more over the life of the loan than you need to. With so many mortgage options available – adjustable rate, fixed rate, balloon and bridge to name a few – how do you know which is best for you? The mortgage guide below will help you learn more about each loan type, including drawbacks and benefits. Once you’ve read through it, be sure to get in touch with the mortgage lenders at Peoples Bank & Trust to start a conversation about your home loan needs. Mortgage Guide Adjustable-Rate Mortgages, also known as an ARMs. •Interest rate: varies based on market conditions. ARMs come with change caps and lifetime rate caps to prevent huge jumps in mortgage payments. • Ideal for: those who are only going to be in a home for a few years. • Benefits: allows you to take advantage of periods of low interest rates. • Drawbacks: mortgage and interest payment can change each month, making it hard to budget for. Fixed-Rate Mortgages • Interest rate: locked in for the life of the loans. • Ideal for: those who will be living in their homes for a long period of time. • Benefits: simple to understand, and the fixed monthly payments are easy to budget for. • Drawbacks: may be too expensive if you purchase your home in a time of high interest rates. Balloon Mortgages • Interest rate: fixed for the life of the loan • Ideal for: someone expecting a large injection of cash or capital soon or those who will be moving out of the home soon. • Benefits: short-term, allow you to get large amounts of financing for lower interest rates • Drawbacks: the full balance of the mortgage is due at the end of the term. Bridge Loans • Interest rate: fixed for the life of the loan. • Ideal for: anyone wanting to purchase a new home before they sell their current home. • Benefits: gives you the short-term financing you need to purchase a new home before selling you current home. • Drawbacks: payments may be larger as the full balance of the loan must be paid by the time permanent financing is secured. If you have any further questions about your mortgage options, be sure to contact a mortgage lender at Peoples Bank & Trust. They take the time to listen to your needs to offer the best mortgage solution possible. We hope to hear from you soon! Peoples Bank & Trust Co. Member FDIC Equal Housing Lender NMLS #407724

There are different types of mortgages to choose from, a choice that can cost or save you thousands of dollars.

Spring and warmer weather are on their way again soon, meaning the prime time for buying and selling homes is as well. Purchasing a new home is no small decision. It is something that requires a lot of time planning and ensuring your finances are in order. It also requires that you get the right mortgage in place.

Having the right mortgage for your needs is essential, as the wrong mortgage type can lead to spending hundreds or thousands more over the life of the loan than you need to. With so many mortgage options available – adjustable rate, fixed rate, balloon and bridge to name a few – how do you know which is best for you?

The mortgage guide below will help you learn more about each loan type, including drawbacks and benefits. Once you’ve read through it, be sure to get in touch with the mortgage lenders at Peoples Bank & Trust to start a conversation about your home loan needs.

Continue reading →

Unveiling the New PBTC.net

Take a look at the new PBTC.net to see our new design.

If you have been to our website lately, you have noticed a big change: it’s different! Over the last couple of months we have been working to create a new website with an updated design, better function and improved organization. Why? To help you, our customer, find information faster and make better financial decisions.

We know that changes, especially with your financial institution, can be scary. But we’re here to help. The following is a guided tour to the most important aspects of our new website. We encourage you to read through the guide, then go over to www.pbtc.net and look around for yourself. 

Continue reading →

Welcome to the PB&T Blog

You may have noticed a lot of changes going on at Peoples Bank & Trust, specifically with our online home, PBTC.net. We have recently launched a newly designed and organized website to better help our customers get the information they need for their financial life.

Part of this “refresh” of our website includes a blog. On the previous Peoples Bank & Trust website, we posted community news and other items, and that will not be going away. Our blog, in addition to our Facebook page, will be a place to find our latest community news and activities. However, our blog will also include a lot of content surrounding your finances.

Tips & Advice for Your Financial Life
At Peoples Bank & Trust, we believe it is part of our role as a community bank to help our customers make the best financial decisions possible. How? By providing the resources and education you need on a variety of banking, personal finance and lifestyle topics. Therefore, you can think of the Peoples Bank & Trust Blog as your central hub for personal finance resources.

We will cover topics such as:
• Different budgeting techniques
• Creating a savings plan
• How to save for retirement
• The ins and outs of mortgages, loans, IRAs and other financial products
• Personal security measures
• And so much more!

The more you know about these and other financial topics, the better decisions you can make for yourself and your family.

We will be posting weekly, so be sure to bookmark our blog and check back each week. You can also watch for updates under the “What’s New at Peoples Bank & Trust” area on the home page of our website and by following us on Facebook.

We look forward to seeing you soon!

Peoples Bank & Trust Co.
Member FDIC
Equal Housing Lender