Sunshine and Mortgages: Your Guide to Summer Home Buying with Peoples Bank

Home Blog Sunshine and Mortgages: Your Guide to Summer Home Buying with Peoples Bank

Posted On: May 27, 2024 by Peoples Bank of Kankakee County in: Mortgages Personal Finances

As the sun shines brighter and the days grow longer, summer brings with it a sense of adventure and possibility!

For many, this season also marks the perfect time to embark on the exciting journey of homeownership. At Peoples Bank, we're here to make your summer home buying dreams a reality. In this blog post, we'll explore how the warm weather can impact the home buying process and share valuable tips for making the most of your summer home search.

1. Embrace the Summer Market: The summer months are traditionally known as peak home buying season, as families take advantage of the warmer weather and longer days to explore properties. With more homes on the market and increased competition among buyers, now is the perfect time to dive into your home search. Our team of mortgage experts is ready to help you navigate the bustling summer market and secure the perfect mortgage for your dream home.

2. Plan Your Open House Tours: With the sun shining and flowers in bloom, summer is the ideal time to attend open houses and explore potential neighborhoods. Take advantage of the longer days to schedule tours of homes that catch your eye, and don't be afraid to ask questions about the property, neighborhood amenities, and school districts. As you tour homes, keep a checklist of must-haves and nice-to-haves to help you narrow down your options.

3. Consider Outdoor Spaces: Summer is all about outdoor living, so be sure to pay close attention to the outdoor spaces of potential homes. Look for properties with spacious yards, inviting patios or decks, and plenty of room for outdoor entertaining. Whether you envision summer barbecues with friends or lazy afternoons lounging in the sun, finding a home with the perfect outdoor oasis can enhance your summer living experience.

4. Prepare for Quick Closings: In the fast-paced summer market, homes can sell quickly, so it's essential to be prepared for a speedy closing process. Get pre-approved for a mortgage before you start your home search to show sellers that you're a serious and qualified buyer. With Peoples Bank's streamlined mortgage application process, you can get pre-approved quickly and confidently, giving you a competitive edge in the summer housing market.

5. Stay Cool and Calm: While summer home buying can be exhilarating, it's essential to stay cool and calm throughout the process. Remember that finding the perfect home takes time, and it's okay to take breaks and recharge when needed. Trust in the expertise of our mortgage team to guide you through each step of the process and help you make informed decisions that align with your financial goals.

With the warmth of summer as your backdrop, now is the perfect time to turn your homeownership dreams into reality!

Whether you're a first-time buyer or a seasoned homeowner, Peoples Bank is here to support you every step of the way.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.