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Loans / Home Loans

Home Equity Installment Loan

Home Equity loans are for virtually any purpose - buying a new car, holidays, home improvements, debt consolidation or even buying a second home. A Home Equity Installment Loan can be repaid over 5 to 15 years, with level payments and a fixed interest rate.

  • Loan Amounts of $5,000 to $417,000, dependent on Appraised Value
  • Borrow up to 80% of the appraised value
  • Repayment terms: up to 60 months, 61- 84 months, 85 - 120 months and 121 - 180 months
  • Free Autopay
  • You pay only for the appraisal - no other fees!

Home Equity Credit Line

Home Equity loans can be used for virtually anything you like - buying a new car, holidays, home improvements, consolidation of debts or even buying a second home. A Home Equity credit line conveniently allows you to borrow as you need. Your monthly payment may vary. You only pay interest on funds borrowed at today's low rates!

Only pay interest on the amount you borrow, when you borrow! The interest rate is variable and based on the Wall Street Journal Prime Rate.

  • Loan Amounts of $5,000 to $100,000
  • Borrow up to 80% of the appraised value
  • 15-year draw period
  • Revolving credit line
  • Repayment terms: 1.5% of outstanding balance or $100 minimum
  • Rate is adjustable (based on the Wall Street Journal Prime Rate) and is 1.0% above the current prime rate (maximum - 18.00%)
  • Free Autopay

Concerned you may not have enough equity in your home? You may qualify for an Access Credit Line based on your personal credit instead! Just ask any loan representative.

Additional Resources

Estimate Your Payment!
The payment calculator is a tool used for estimating payment amounts only. Your true payment may vary depending on Penn State Federal's interest rates, terms and other loan policies as well as your credit score. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed. Please confirm your monthly payments directly from Penn State Federal before making your purchase.

What to Bring When Applying for a Loan