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Routing Number: 031315036
Home Equity Loans
Use the equity you've built in your home for planned projects, major expenses, or future goals. Our lenders can help you explore your options.
Use Your Home's Equity With A Plan
Home equity can help you pay for a known expense or give you access to funds as needs arise. The right way to borrow depends on how much you need, when you’ll need it and how you want to repay it. You’ll work with a local lender who’ll explain the options and help you understand the tradeoffs.
Common Uses
- Home improvements and renovations
- A major purchase
- Education or medical expenses
- Debt consolidation or mortgage refinancing1,2
- Planned or unexpected expenses
Find Home Equity Borrowing Options that Match Your Preferences
Answer a few questions about how you plan to borrow, repay, and use your home's equity. Based on your responses, we'll highlight a home equity borrowing option you may want to explore. Whether you're looking to finance a specific expense with predictable payments or access funds as needs arise, this tool can help you compare your options.
Results are provided for informational purposes only and are not a recommendation.
Based on your responses, you may want to explore the following home equity borrowing option. Review the rates, fees, terms, repayment requirements, and disclosures to determine whether it aligns with your borrowing needs and financial goals.
Results are provided for informational purposes only and are based solely on the responses you provide. This tool is designed to help identify home equity borrowing options that may align with your stated preferences and borrowing needs. It is not a recommendation, prequalification, approval, or commitment to lend. All loans are subject to credit approval, property evaluation, underwriting requirements, and additional terms and conditions. Please review all applicable disclosures and speak with an Orrstown Bank lender to determine which option may be appropriate for your situation.
SmartLock Home Equity Line of Credit
Overview
Borrow as needs arise during the draw period, then choose whether to keep eligible balances at a variable rate or convert eligible portions to a fixed rate and payment, subject to product terms and requirements.
Features
- Ongoing access to funds up to your approved credit limit during the draw period
- Borrow only what you need and pay interest on the amount borrowed
- Convert eligible balance portions to a fixed rate and fixed monthly payment, subject to product terms
- Repaid principal becomes available to borrow again during the draw period
- $5,000 minimum line amount
Ready to Access your Home's Equity?
Home Equity Installment Loan
Overview
Borrow a set amount for a one-time expense with a fixed rate, fixed monthly payment, and set repayment term, subject to credit approval and underwriting requirements.
Features
- One lump sum for a known expense
- Fixed interest rate
- Fixed monthly payment
- Set repayment term
- $5,000 minimum loan amount
Ready to Put Your Home's Equity to Work?
SmartLock Home Equity Line of Credit
Overview
Borrow as needs arise during the draw period, then choose whether to keep eligible balances at a variable rate or convert eligible portions to a fixed rate and payment, subject to product terms and requirements.
Features
- Ongoing access to funds up to your approved credit limit during the draw period
- Borrow only what you need and pay interest on the amount borrowed
- Convert eligible balance portions to a fixed rate and fixed monthly payment, subject to product terms
- Repaid principal becomes available to borrow again during the draw period
- $5,000 minimum line amount
- The rate on any unlocked balance is variable and may change.
- Rate locks and unlocks are subject to product terms and fees.
- Payments may increase when the line enters the repayment period.
- Your home secures the line of credit. Failure to meet the obligation could result in the loss of your home.
- Credit approval, property and underwriting requirements apply.
Ready to Access your Home's Equity?
Home Equity Installment Loan
Overview
Borrow a set amount for a one-time expense with a fixed rate, fixed monthly payment, and set repayment term, subject to credit approval and underwriting requirements.
Features
- One lump sum for a known expense
- Fixed interest rate
- Fixed monthly payment
- Set repayment term
- $5,000 minimum loan amount
- This is a one-time loan, not a reusable line of credit.
- Your home secures the loan. Failure to meet the obligation could result in the loss of your home.
- Credit approval, property and underwriting requirements apply.
Ready to Put Your Home's Equity to Work?
Compare Accounts
- SmartLock Home Equity Line of Credit
- Home Equity Installment Loan
Home Equity
Flexibility to borrow money when you need it
Payment Options - Interest Only during the draw period
Payment Options - Pay the same amount every month
Interest paid may be tax-deductible*
Can be used for overdraft protection for your Orrstown checking account during draw period*
One-time borrowing need
Write a check or make an online transfer during draw period
What Lenders Consider
Qualification and available terms depend on your financial profile and property information. A lender may review factors such as income, credit history, current debts, payment history, property value, and the equity available in your home.
How Home Equity Works
Home equity is the difference between your home's current value and the amount you owe on loans secured by the property. The amount you may be eligible to borrow depends on the property's value, existing secured debt, available equity, and underwriting requirements.
Not Sure Which Home Equity Option Is Right for You?
Whether you're planning home improvements, consolidating debt, covering education expenses, making a major purchase, or exploring your borrowing options, our lending team is here to help. Complete the form below and we'll connect you with a lender who can answer your questions and discuss available home equity financing options.
Local Guidance from Application through Closing
Home equity decisions can involve your budget, your property, and your longer-term goals. You'll have direct access to local lenders who can explain available options, answer your questions, and help you understand each step of the process.
