Home Equity Loans & Lines

Home Equity

Completing home renovations or paying for higher education expenses? Our home equity loans and lines of credit offer great rates and can be used for a number of purposes.

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Home Equity Loans and Lines of Credit

Mid Penn Bank is proud to offer home equity loans and lines of credit to homeowners in Harrisburg and other communities across Dauphin, Northumberland, Cumberland, Lancaster, Luzerne and Schuylkill Counties.

Home Equity Loans

By using the equity you’ve built up in your primary residence, a fixed rate Home Equity Loan is the perfect way to borrow money for fixing up your home, paying for college or other borrowing needs you may have.

  • Make home improvements
  • Consolidate your debt
  • Fund an important purchase
  • Help pay for major expenses like college or medical bills
  • The interest you pay is typically tax deductible1

Apply Now

1 – Consult a tax advisor.

 

Fixed Rate Home Equity Loans

TermInterest RateAPR1Monthly Payment
per $1,000 borrowed
5-Year3.49%3.99%$17.96
7-Year4.24%4.74%$13.66
10-Year4.74%5.24%$10.35
15-Year5.50%6.00%$8.03
20-Year5.99%6.49%$7.02
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Fixed-rate, closed-end loan secured by primary residence. Property insurance required. Rates are for qualified applicants and offer subject to credit approval. Rates are contingent upon automatic payments made from a Mid Penn Bank checking account. Add 0.20% to rate if borrower does not elect to have payments automatically deducted from a Mid Penn Bank checking account. Monthly payment of approximately $17.96 per $1,000 borrowed. Payment amount does not include taxes and insurance; your actual payment obligation may be greater. Maximum loan-to-value = 80%. Maximum debt-to-income = 43%. All rates effective as of 11/20/17 and are subject to change without notice.

1 - Annual Percentage Rate

Home Equity Line of Credit (HELOC)

A HELOC is specifically designed to serve the needs of qualified home owners as an alternative to traditional loans. With a line of credit, you can pay down what you owe and continue borrowing against the account up to your credit limit.

Use your line of credit to pay for larger expenses or ongoing expenses such as college costs. A line of credit also doesn’t have to be used right away. You can take out a line of credit now and keep it open for emergencies or future purchases.

  • Access funds easily by writing a check or transferring the money online
  • Use for large expenses (home improvements, education, vacations, etc.)
  • Use the money now or later (be prepared for an unexpected expense)
  • The interest you pay is typically tax deductible1

Contact Us to Apply

1 – Consult a tax advisor.

 

Home Equity Lines of Credit (10 Year Draw Period)

Interest RateAPR1Annual Fee
Variable = WSJ Prime
Maximum Rate = 21.0%
4.25%NONE
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1 - Annual Percentage Rate is equal to Wall Street Journal Prime rate. APR is variable and may increase or decrease monthly. APR includes a discount for automatic payment deduction from a Mid Penn Bank deposit account. Add .20% to the Prime Rate if borrower does not elect to have payments automatically deducted from a Mid Penn Bank deposit account. Maximum APR is 21.0%. Primary residence only. Property insurance is required. Maximum loan-to-value is 80%. Fees paid by the borrower generally range from $0 - $600. Consult a tax adviser for deductibility of interest. Offer subject to credit approval. All rates effective as of 11/20/17 and are subject to change without notice. This offer is available to existing home equity line of credit customers, subject to a processing fee. Other rates and terms available. NMLS ID# 514439

Mid Penn Bank Makes It Easy to Tap Into Your Home’s Equity

Mid Penn Bank is pleased to offer highly competitive home equity loan rates and lines of credit to homeowners throughout Central Pennsylvania. If you’re not yet a homeowner, we also have a range of personal loan options for you. In either case, our team would be happy to answer your questions and to get you started.

Home equity loans and lines of credit can be used for a variety of purchases, including:

  • Home repairs
  • Vacations
  • Educational costs
  • Investments
  • Second homes
  • Recreational vehicles
  • Special gifts
  • Overdraft protection
  • Debt consolidation