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BBB Business Review

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BBB Accredited Business since

Peoples Home Equity, Inc.

Phone: (630) 225-7575 Fax: (630) 812-0708 View Additional Phone Numbers 1801 S Meyers Rd Ste 500, Oakbrook Terrace, IL 60181

BBB Business Reviews may not be reproduced for sales or promotional purposes.


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

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 the rating for Peoples Home Equity, Inc. include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 2 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Customer Complaints Summary Read complaint details

2 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 2
Total Closed Complaints 2

Customer Reviews Summary Read customer reviews

2 Customer Reviews on Peoples Home Equity, Inc.
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 2
Total Customer Reviews 2

Additional Information

BBB file opened: February 13, 1998 Business started: 01/01/1997 Business started locally: 01/01/1997 Business incorporated 10/08/2009 in TN
Licensing, Bonding or Registration

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

These agencies may include:

Illinois Department of Financial and Professional Regulation
100 W. Randolph, 9th Fl, Chicago IL 60601
Phone Number: (312) 814-4500

Type of Entity


Business Management
Mr. Phil Lekousis, Branch Manager
Contact Information
Principal: Mr. Phil Lekousis, Branch Manager
Number of Employees


Business Category

Mortgage Lender Financial Services Real Estate Services Financing Loans Real Estate Loans Mortgage Brokers Reverse Mortgage Real Estate Credit (NAICS: 522292)

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

Customer Review Rating plus BBB Rating Summary

Peoples Home Equity, Inc. has received 3.68 out of 5 stars based on 2 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

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.