Loan Options


If you’re like most people, purchasing a home is probably one of the biggest investments you’ll ever make in your lifetime. If you’re considering buying a home, you’re likely aware of the complexity of the endeavor. Because of the numerous factors to consider when purchasing a home, it’s important to prepare as best you can. At Peoples Home Equity – TriCities, we are dedicated to finding the loan that fits your individual needs.


Refinancing is often used to lower your interest rate. The benefits…
Reduce Your Interest Rate
Cash Out* Equity for Home Improvements
Consolidate Debt
Lower Monthly Payments

FHA Loans:

FHA loans have been helping people become homeowners since 1934. Some benefits of FHA loans are:
Low down payments
Low closing costs
Easy credit qualifying

USDA Loans:

The USDA changed rules in 2009 that makes millions of Americans eligible for its rural mortgage programs. The American dream of homeownership has become more difficult as families struggle to come up with the 20% down payment that many conventional home loans require. With the USDA Loan TN many are still able to get a zero down home loan. Let Joel help you see if you qualify.

HECM (Reverse Mortgages):

Improve your life by cashing in on your home’s equity. Whether seeking money to finance a home improvement, Pay off a current mortgage, supplement retirement income, or pay for healthcare expenses, many older Americans are turning to “Reverse” Mortgages. They allow older homeowners to convert part of the equity of their homes into cash without having to sell their homes or take on additional monthly bills.
In a “regular” mortgage, you make monthly payments to the lender. But in a “reverse” mortgage, you receive money from the lender and generally don’t have to pay it back for as long as you live in your home. Instead, the loan must be repaid when you die, sell your home, or no longer live there as your principal residence. Reverse mortgages can help homeowners who are house-rich but cash-poor stay in their homes and still meet their financial obligations.
To qualify for most reverse mortgages, you must be at least 62 and live in your home. The proceeds of a reverse mortgage (without other features, like an annuity) are generally tax-free, and many reverse mortgages have no income restrictions.



*Using your home equity to pay off debts or make other purchases does not eliminate the debt or the cost of the purchases, but rather increases the loan amount of your mortgage to be paid according to your new mortgage terms.