BBB Business Review

BBB Accredited Business since 11/01/2013

Peoples Home Equity, Inc.

Phone: (630) 225-7575Fax: (630) 812-0708View Additional Phone Numbers1801 S Meyers Rd Ste 500, Oakbrook TerraceIL 60181-5202 Send email to Peoples Home Equity, Inc.

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Peoples Home Equity, Inc. is a mortgage lender which provides customized loans and a wide variety of loan products to meet the needs of different populations who need home mortgages, retail mortgages, reverse mortgages, and other sources of capital. Located in Oakbrook Terrace, IL, this company serves the western suburbs of Chicago, including Lombard, Villa Park, Oak Brook, Elmhurst, Elk Grove Village, Bensenville, Wheaton, Naperville, Carol Stream, Downers Grove, Clarendon Hills, Hinsdale, Western Springs, Glen Ellyn, Brookfield, Broadview, Melrose Park, Northlake, La Grange, Glendale Heights, Lisle, Countryside, Stone Park, Berkeley, Willowbrook, Hillside, Northlake, River Forest, and Wood Dale. The company has locations across the United States, including Arizona, Tennessee, North Carolina, and Florida. The company has been in business since 2001 is a fully functional Conventional and Government HUD approved lender.

This company provides customized loans to retail and personal clients depending on their credit score and needs, with no application fees and a variety of financing options available that will suit their budget and financial goals. Interested individuals first submit a request, then receive a quote for a mortgage or other type of loan, and then close the deal and receive their loan. Types of loans available include Adjustable Rate Mortgages, 30-year fixed mortgages, 20-year fixed mortgages, 15-year fixed mortgages, 10-year fixed mortgages, FHA loan, VA loan, HARP refinance, and reverse mortgages.

Visit the website for Peoples Home Equity, Inc. to learn more about the services available from this company, read about the company's background, and apply for a mortgage or other type of loan.

BBB Accreditation

A BBB Accredited Business since 11/01/2013

BBB has determined that Peoples Home Equity, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised Peoples Home Equity, Inc.'s rating include:

  • Length of time business has been operating.
  • Response to 2 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

2 complaints closed with BBB in last 3 years | 1 closed in last 12 months
Complaint TypeTotal Closed Complaints
Advertising / Sales Issues2
Billing / Collection Issues0
Problems with Product / Service0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 2

Customer Reviews Summary Read customer reviews

1 Customer Review Customer Reviews on Peoples Home Equity, Inc.

Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 1
Total Customer Reviews 1 Customer Review

Complaint Breakdown by Resolution

Complaint Resolution Log (2)BBB Closure Definitions
07/28/2014Advertising / Sales Issues | Read Complaint Details

I have asked multiple times for my name and number to be removed from their data base but I still receive the unwanted solicitation calls. Today when I asked again for my information to be removed I was told it can not be removed and the calls will continue because it is an automated system.

Desired Settlement
Solicitation calls to stop.

Business Response
Contact Name and Title: ******* ********
Contact Phone: XXX-XXX-XXXX x111
Contact Email: *********
Peoples Home Equity, Inc. does not have an automated system where a customer cannot be removed. Mr. ******** ***** has been removed from the database. He should no longer receive any phone calls from Peoples Home Equity, Inc.

08/23/2013Advertising / Sales Issues

Industry Comparison| Chart

Mortgage Lender, Real Estate Services, Financial Services, Reverse Mortgage, Mortgage Brokers, Real Estate Loans, Loans, Financing

Additional Information


According to the company, it maintains a satellite office, Savannah Mortgage, in Scottsdale AZ. A separate report is available on that company at

BBB file opened: 02/13/1998Business started: 01/01/1997
Licensing, Bonding or Registration

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

Type of Entity


Incorporated: October 2009, TN

Contact Information
Principal: Mr. Phil Lekousis (Branch Manager)
Business Category

Mortgage Lender, Real Estate Services, Financial Services, Reverse Mortgage, Mortgage Brokers, Real Estate Loans, Loans, Financing

Industry Tips

Customer Review Rating plus BBB Rating Summary

Peoples Home Equity, Inc. has received 4.12 out of 5 stars based on 1 Customer Review and a BBB Rating of A.

BBB Customer Review Rating plus BBB Rating Overview

Map & Directions

Map & Directions

Address for Peoples Home Equity, Inc.

1801 S Meyers Rd Ste 500

Oakbrook Terrace, IL 60181-5202

To | From


1 Locations

  • 1801 S Meyers Rd Ste 500 

    Oakbrook Terrace, IL 60181-5202(630) 225-7575
    (630) 225-7563
    (630) 225-7370

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Chicago and Northern Illinois. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Peoples Home Equity, Inc. is in this range.


Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


Additional Phone Numbers

  • (630) 225-7563
  • (630) 225-7370

BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.


Industry Tips for Mortgage Lender


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BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

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BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.