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Home Loans

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Peoples State Bank is here to help with all your home financing needs. We can assist with the purchase of your new home, a construction loan, financing for a home-improvement project, or a home equity loan or line of credit. Local loan decisions and servicing with exception of WHEDA products.

We have a large portfolio of mortgage loan products, so we can finance almost any situation. Some of the home loans we offer include conventional fixed, first-time homebuyers’ program, unconventional loans, second mortgages and other government assistance.

Private mortgage insurance (PMI) is available for loans with lower downpayments.

Loans that are not serviced by our bank are specialty products that assist first-time and low-to-moderate-income homebuyers through the Wisconsin Housing and Economic Development Authority (WHEDA) program. Loans for this program are serviced in Madison, Wisconsin.

If you’re looking for competitive interest rates, lower than average closing costs and a seamless closing, let Peoples State Bank's professionals tailor a loan to your individual needs!



Conventional Loans

If you value a low, fixed rate with the same mortgage payment every month, a conventional home loan is a popular option. Qualifying individuals can enjoy financial stability and larger savings over the term of their loan. Because of the many financial benefits, a large percentage of homeowners choose to purchase their dream home using a conventional home loan.

Advantages of Conventional Home Loans

  • Fixed Rates: With competitive interest rates, homeowners who secure a fixed interest rate loan can save money on their mortgage.
  • Seamless Loan Process: Since this loan is not backed by the government, it creates a straightforward  approval process that could be an important factor in securing your new home in the competitive real-estate market.

Home Equity Loans

Home equity is the difference between a home’s appraised market value and the outstanding balance of all liens on the property. Put your home equity to work for you with these borrowing options:

Home Equity Line of Credit: A home equity line of credit (HELOC) is a revolving line of credit, similar to a credit card, where you can use the money as you need it up to a predetermined limit. Another benefit of the HELOC is that it can be set up ahead of time, so you don’t have to go through the application/approval process each time you need additional funds.

Home Equity Loan: A home equity loan gives you a set amount of funds in one lump sum and is repaid in a set monthly principal and interest payment.

Advantages of Home Equity Loans

  • Achieve Financial Goals: Your lump-sum loan can be used to pay for a variety of large, important expenses. Peoples State Bank homeowners have consolidated their debt, bought cars at a reasonable rate and even renovated their home using the cash generated by their home equity loan.
  • Interest Rates: Wisconsin and Iowa homeowners can take advantage of low interest rates to tap into their home’s equity while still enjoying a low monthly mortgage payment.

Home Refinancing

With interest rates so low, there has never been a better time to take advantage of the financial opportunities from refinancing your existing home mortgage. Peoples State Bank homeowners have multiple fixed rate options to switch to through refinancing, giving them a set monthly mortgage payment for the remaining duration of their loan. With the many financial benefits, refinancing is a popular option among homeowners who can reinvest their savings into achieving their personal and financial goals.

Advantages of Home Refinancing

  • Save Money with Low Interest Rates: Wisconsin and Iowa homeowners that switch from a variable rate to today’s historically low interest rates through refinancing can greatly lower their monthly payments while continuing to build equity in their homes.
  • Flexibility of Funds: By saving money through refinancing, homeowners can free up funds for debt consolidation, major home improvement projects or other large financial expenses.
  • Shorten the Term of Your Mortgage: Homeowners who have increased financial stability since originally setting the terms of their mortgage can reduce the term of their home loan through refinancing. While shortening the duration of the loan may increase monthly mortgage payments, Peoples State Bank homeowners who choose to do this pay less interest than longer-term loans and gain equity faster.

New Home Loans

Before purchasing your first home, you have many things to consider. Because making the wrong decisions can negatively affect your long-term financial plans, the Peoples State Bank's professionals ensure that buying your new home is a smooth and rewarding experience. Your residential lender will assist you through the loan process and answer any questions you may have.

Our job is to save you money, so we offer a number of affordable mortgage options with historic low rates. At Peoples State Bank, we provide you with the service you deserve and the confidence you need to move forward in your home-buying venture. Contact us today to start the process of buying your dream home — we proudly serve homebuyers in Iowa and Wisconsin!

Build or Renovate

Home Equity Line of Credit

This loan is secured by a mortgage on your home to be used for those projects and improvements around the house without having to come in and borrow each time. You can draw from the loan’s available funds and repay them throughout the length of the loan.

New Construction Loans

This interest-only loan was designed especially for those building their own homes or engaging in a large building project. All draws and inspections are conducted by a title company. 


A mortgage pre-approval from Peoples State Bank provides an estimate of the loan amount, interest rate, and monthly payment you qualify for based on a review of your credit score and overall financial situation.

For serious homebuyers, pre-approval is the initial step in the homebuying process because it shows sellers you are serious about purchasing their property. In the competitive housing market, pre-approval can help your offer stand apart from the competition.

Advantages of Getting Pre-Approved for a Home Loan

  • Make Your Offer More Competitive: For motivated sellers who want to sell fast or in competitive housing markets, a pre-approval letter shows you have taken the first step in the homebuying process and are verified as financially capable of purchasing a home by a certified mortgage lender. A home offer with a pre-approval letter makes your bid more attractive and competitive than other interested buyers’.
  • Establish Your Price Range: By getting pre-approved, you will be able to establish the price range of homes you can comfortably afford and more accurately determine your house budget.
  • Establish Credit Worthiness: Unexpected errors or credit issues can prevent borrowers that pay their bills on time and have an acceptable debt-to-income ratio from getting the mortgage they request. With pre-approval, a mortgage lender may be able to determine any potential issues with your application, such as unexpected errors or credit issues which would allow you to improve your financial situation before you actually apply for a mortgage.
  • Smoother Closing: Getting pre-approved for a mortgage should allow for a smoother closing process.

Financial Calculators

Use the calculators below to generate an estimated payment for your mortgage, see how much interest you could pay and your estimated principal balances.

Home Affordability Calculator

Mortgage Calculator

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