Interest rates offered are dependent on the borrower’s credit score and other product terms and conditions. Best interest rates typically are available only to borrowers with credit scores of 740 or above. Loans financed over 72 months or greater require a minimum loan amount of $20,000. Loans with a term of less than 72 months require a minimum loan amount of $5,000. Other loan terms and available rates may vary based on whether the vehicle being financed is new or used. Other standard underwriting criteria apply. We reserve the right to withdraw this product and/or adjust available rates at any time without advance notice. Terms and conditions are subject to change without notice.
Personal Loans include an annual fee of $15 (not applicable in MD and WV); APR for fixed rate Unsecured Installment Loans and Lot loans include a one-time $50 administrative fee (not applicable in MD and WV). Unsecured Personal Credit Lines Interest rates are variable rate products, based on the 6 month T-bill rate + 6.00 %, with a minimum interest rate of 6.00 %. Interest rates offered are dependent on the borrower’s credit score and other product terms and conditions. Best interest rates typically are available only to borrowers with credit scores of 740 or above for unsecured installment loans and lot loans, or 680 and above for personal credit lines. Other standard underwriting criteria apply. We reserve the right to withdraw these products and/or adjust available rates at any time without advance notice. Terms and conditions are subject to change without notice. ** Lot Loans: Improved = water/well and sewer/septic in place. All hard costs are passed on to the borrower.
This product includes a $50 administrative fee (not applicable in MD and WV) and is available to borrowers with credit scores of 620 or greater. Interest rate is based on the current Orrstown Certificate of Deposit Rate + 2.00 %, and it is based on the customer’s CD account used to secure the loan. The amount in your CD collateral account equal to the full amount of the loan at the time the loan is made will not be available for use until such time that the CD secured loan is paid in full. This product is valid only where terms and conditions are not restricted or further limited by state law.
1 Offer valid on new SmartLock™ customers with a minimum line request of $5,000 or a SmartLock™ refinance with at least $25,000 in new money. Borrower(s) must also meet certain credit score and loan-to-value (LTV) requirements to receive introductory rate. Introductory 1.65% Annual Percentage Rate (APR) is effective for initial 6 months of the loan. After the introductory period, the rate converts to a variable (“permanent rate”). The permanent rate will vary with Prime Rate as published in the Wall Street Journal (the index) plus a margin. The APR will never exceed 18% or go below 3.25%. As of 06/15/2022, the variable APR ranges from 4.25% to 8.50% for properties in Pennsylvania and West Virginia; the variable APR ranges from 4.50% to 8.75% for properties in Maryland. APRs advertised are based on a minimum credit score of 740, maximum loan-to-value (LTV) ratio of 80%, and a minimum loan amount of $100,000. APRs advertised also include “auto pay” discount of 0.75% for setting up automatic loan payment (at or prior to HELOC account opening) and maintaining such automatic payments from an eligible Orrstown Bank deposit account. A higher APR may be applied for loans with lower credit scores, higher LTV ratios, loan amounts less than $100,000 and discontinuance of auto pay.
All SmartLock™ accounts have a 10-year interest-only draw period, followed by a 20-year repayment period. Your monthly payments may increase, possibly substantially, once your credit line transitions into the repayment period. Fixed Rate / Fixed Term Advances under a SmartLock™ account are subject to different pricing. This product requires proof of active homeowner’s insurance policy. For properties in Pennsylvania, a recapture fee of $250 applies if you close the account within 24 months of account opening. For properties in Maryland, certain taxes associated with the line will be paid by us at closing; you will be responsible for reimbursement of those taxes if you close your account within the first 24 months of account opening. Other standard underwriting criteria apply. Terms and conditions of this offer are subject to change without notice. We reserve the right to withdraw this offer at any time. Please contact us for properties outside this area.
2 Consult with a tax advisor.
Lowest APR based on approved credit for an Orrstown customer who elects to have payments directly debited from a qualified Orrstown deposit account. Customers who elect not to enroll in direct draft payments will incur 0.75 % increase in rate and a one-time $100 loan administration fee. Best interest rates typically are available only to borrowers with credit scores of 740 or above, and a loan-to-value (LTV) of 80%. Loans with a 80-90% LTV may be assessed a $300 appraisal fee. Title insurance, if required, and any other hard costs are passed on to the borrower. Loans secured by mobile/manufactured homes incur a 1.00% increase in rate.