Peoples Bank Mortgage Rates, Fees & Info
Munster, INLEI: 549300Y7HCU10KIRLG30
Tax ID: 35-0576197
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Mortgage Data
Review & Overview
Peoples Bank is a smaller bank specializing in Home Purchase loans. Peoples Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Chicago, South Bend, Fort Wayne, Port St. Lucie, and San Diego among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Peoples Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Peoples Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 12/16/24 |
| 30 Year Conventional Refi | 6.55% | 12/16/24 |
| 30 Year Cash-out Refi | 6.76% | 12/16/24 |
| 30 Year FHA Purchase | 7.09% | 12/16/24 |
| 15 Year Conventional Purchase | 6.34% | 12/16/24 |
| 15 Year Conventional Refi | 6.34% | 12/16/24 |
| 15 Year Cash-out Refi | 6.34% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Peoples Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
548Origination Dollar Volume (All Markets)
$217,590,000Awards
Peoples Bank - 2022
Peoples Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 511 | $200,935,000 | $393,219 | $3,964 | 4.77% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $2,820,000 | $1,410,000 | $3,485 | 5.47% |
| Outside of Metro Areas | 9 | $2,365,000 | $262,778 | $3,154 | 5.15% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $2,055,000 | $2,055,000 | $0 | 4.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $1,900,000 | $950,000 | $5,927 | 3.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $1,755,000 | $1,755,000 | $13,614 | 6.50% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $3,207 | 2.88% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $3,499 | 5.75% |
| NILES, MI (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $9,063 | 5.88% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,931 | 3.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,608 | 4.50% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 5.81% |
| Ottawa, IL (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $3,285 | 5.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,354 | 5.75% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,069 | 3.13% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $10,962 | 6.13% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,205 | 4.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,183 | 3.88% |
| Laurinburg, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,639 | 5.88% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,702 | 6.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,199 | 5.75% |
| Crawfordsville, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,767 | 6.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Peoples Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 547 | $217,165,000 | $397,011 | $3,974 | 4.80% |
| FHA | 1 | $425,000 | $425,000 | $10,107 | 6.25% |
For 2022, Peoples Bank's most frequently originated type of loan was Conventional, with 547 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2022, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 384 originations. The 2nd most popular reason was Refi, with 83 originations.
Loan Duration/Length
For 2022, Peoples Bank's most frequently cited loan duration was 30 Year, with 376 originations. The 2nd most popular length was 10 Year, with 84 originations.
Origination Fees/Closing Costs
Peoples Bank's average total fees were $4,125, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 175 originations.
Interest Rates
During 2022, Peoples Bank's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 164 originations.
Loan Sizing
2022 saw Peoples Bank place emphasis on $200k-400k loans with 200 originations, totaling $57,130,000 in origination value.
Applicant Income
Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 101 originations. The second most popular income band? $150k-250k, with 78 originations.
Applicant Debt to Income Ratio
Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 103 originations. The next most common DTI ratio? 30-36%, with 75 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.06%
Peoples Bank has an average approval rate.
Pick Rate
Approvals leading to origination79.74%
Peoples Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 548 | $217,590,000 | $397,062 |