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First Time Home Buyers

We offer first-time home buyer programs that work with government financial assistance programs to allow for flexible down payments and maximum financing. Let us help you realize the dream of owning a home. 

Peoples SelectMTG Program for Low-to-Moderate Income BorrowersHome Possible® Mortgage | FHLB First Front Door Program | Peoples Security First Time Home Buyer Grant Program


Peoples SelectMTG™


Purchasing a new home or refinancing your existing mortgage? Our Residential Mortgage Loan for low-to-moderate income borrowers provides a fast, low cost and convenient solution to your mortgage needs.

This Special Mortgage Program(4,5,6) for low-to-moderate income borrowers(5) offers advantages many other banks don’t:

  • Lock in a Low Fixed Interest Rate(1)
  • Low Annual Percentage Rate
  • Low Closing Costs
  • NO BANK FEES(4) for Low-to-Moderate Income Borrowers(5)
  • Longer Term Options Available

(1) Current rates and full account disclosure available upon request.

(2) Peoples Security SelectMTG™ is available for first lien purchase and refinance 1-4 family owner-occupied primary residence transactions in amounts up to $500,000 with autodraft from a Peoples Security Bank checking account. Borrow up to 80% of the property’s value with short term financing. Other rates and terms are available. Borrower-paid homeowners insurance required. Borrower-paid flood insurance may be required as necessary. Rates are locked as of date of application for a 60-day period and are subject to market condition changes thereafter.

(3) All loans subject to credit and collateral approval.

(4) Examples of bank fees are: origination fees/points, application fee, documentation fee, credit report, appraisal fee, mortgage recording fee, bank provided property search fee, bank attorney fee, flood certification fee, underwriting fee, tax service fee, courier fee. Borrowers are responsible for all other costs and fees. Title insurance is required on purchase transactions; otherwise, title insurance is at discretion of the underwriter for refinance transactions.

(5) Borrower’s household income may not exceed 80% of the county median income per household as published by HUD effective April 1, 2020. Respective county information available upon request. Other household income options available.

(6) Downpayment may consist of a combination of PSBT First Time Home Buyer Grant Program, qualified gift funds, local or county assistance programs and seller assist when applicable. This offer is effective 11/30/2020 and may discontinue at any time without notice.

Home Possible® Mortgage

Make home purchase a reality with Home Possible® Mortgage. A loan that offers additional flexibilities and financing options for First Time Home Buyers, Move-Up Borrowers and Retirees who qualify as very-low and low-to-moderate income, as well as those in underserved markets seeking low down payment options.

Features of the Home Possible® Mortgage include:

  • Low down payment with a variety of down payment sources 
  • Purchase and no cash-out refinancing
  • Fixed and adjustable rate mortgages available
  • Income and credit flexibility

Contact an experienced Peoples Security Bank Mortgage Loan Originator at 888-868-3858 to discover the possibilities of home ownership and financing. 

FHLB (Federal Home Loan Bank) First Front Door Grant Program

First Front Door may assist qualified first time homebuyers with a grant, matching $3 for every $1 applied toward a down payment and closing costs. You may be approved for up to $5,000 when funding is available through the FHLB Grant Program.

To learn about whether you may be eligible for the FHLB Grant, contact an experienced Mortgage Loan Originator at Peoples Security Bank at 888-868-3858.

For more information or to see if funding is available for the FHLB of Pittsburgh’s First Front Door Grant Program, please click here.

First Time Home Buyer Grant Program

Peoples Security Bank offers a First Time Home Buyer Grant Program1,4 for buyers who qualify as low-to-moderate income borrowers and apply through Peoples Security Bank for their first mortgage loan.

Features and qualifications of PSBT's First Time Home Buyer Grant Program include:

  • Purchase mortgages with a minimum 3% down payment
  • Maximum 43% debt to income ratio
  • PSBT will grant up to $1,000 toward closing costs
  • Assist low to moderate-income borrowers in the counties we serve2
  • Household income must meet maximum household income limits based on Housing and Urban Development (HUD) Median Household Income By County3

Contact an experienced Peoples Security Bank Mortgage Loan Originator at 888-868-3858 to determine eligibility.

(1) Approval is based on household income.

(2) Service area includes: Bucks, Carbon, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna, Wayne and Wyoming Counties in PA and Broome County, NY.

(3) Borrower's household income may not exceed the county's median income. Examples of median income based upon a four person household include: Bucks ($77,300), Carbon ($62,550), Lackawanna ($57,350), Lebanon ($61,600), Lehigh ($62,550), Luzerne ($57,350), Monroe ($63,300), Montgomery ($77,300), Northampton ($62,550), Susquehanna ($52,900), Wayne ($55,200) and Wyoming Counties ($57,350) in PA and Broome County, NY ($60,850). Other household income options available. To qualify, borrowers may not have more than $2,500 remaining in reserves after closing.

(4) All loans subject to credit and collateral approval. This offer is effective 9/17/20 and may be discontinued at any time without notice.