As your community lender, we offer comptetive rates and direct access to our Consumer Real Estate Originators to assist you with the process.

Home Equity Loans 

  • Competitive Rates

  • Flexible Payment Options

  • .50% rate discount when enrolled in STC auto payment

  • Interest may be tax deductible**

**You should consult a tax advisor for information regarding the deductibility of interest and charges.

Home Equity Loan Options

Closed End Home Equity

Money for what you need today. Included but not limited to debt consolidation, home remodeling, vacations, and weddings. *see important disclosures below.
  • Up to 20 years
  • Fixed interest rate
  • Fixed monthly payment
 

Variable Rate Line of Credit Home Equity

Money to meet your needs today and for years to come. Included but not limited to education costs, home remodeling, vacations, and weddings.  *see important disclosures below.
  • 10 years
  • Variable Interest Rate
  • Monthly payment is greater of 1% of the outstanding balance or $100
 

Fixed Rate Line of Credit Home Equity

For your long term needs with a guaranteed fixed rate.  *see important disclosures below.
  • 5 years
  • Fixed interest rate
  • Monthly payment is greater of 1% of the outstanding balance or $100

Mobile Home and Land Loans 

  • Fixed Interest Rate
  • .50% rate discount when enrolled in STC auto payment
  • Fixed Monthly Payment


* Important Disclosures:

CLOSED END HOME EQUITY: Offer is based on a credit review and automatic payment from a Somerset Trust Company account. Payment Example for a 5-Year Term: A monthly payment of $291.58 is based on a $15,000 Fixed Rate Closed End Home Equity Loan with 60 monthly payments and an Annual Percentage Rate (APR) of 6.234% as of January 24, 2025. The payment amount does not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. The rate is based on a credit review and automatic payment from a Somerset Trust Company account. If you cancel auto-pay at any time during the term of your loan, the APR will increase by 0.50% to 6.734% APR. Your rate may be higher based on a credit review, loan amount, equity of your home and automatic payment. Maximum allowable loan to equity value ratio (LTV) to qualify for the example rate is 80.00%. Maximum allowable loan to equity value ratio (LTV) is 89.99% for this loan product. At least $10,000 of amount borrowed must be new to qualify for this rate. Offer applies to single-family primary residence; owner occupied homes and is not for home purchase. Property, title and/or flood insurance, if applicable, may be required. An appraisal may be required. Other rates and terms are available. Offer of credit is subject to credit approval.  This product has a $99 document preparation fee, which may be waived with an automatic payment from a Somerset Trust Company account. Additional fees may apply for lien recording and release as designated by county. Offers are subject to change without notice.

**VARIABLE LINE OF CREDIT: 2.99% introductory APR for the first 6 months then a variable rate as low as 7.50% APR based on the Prime Rate listed in the Wall Street Journal. This is a variable rate loan and your APR will vary with the market based on the Prime Rate listed in the Wall Street Journal. The rate above is based on what Prime was on December 20, 2024. Rates, terms and conditions are subject to change at any time. A balloon payment may result. The maximum APR that can be charged is 18%. The rate is based on credit review, a loan amount of $50,000 or more and having auto-pay. Your rate might be higher based on your credit score, amount borrowed and auto-pay from a Somerset Trust Company account. If you cancel auto-pay at any time during the term of your loan the APR will increase by 0.50% to 3.49% during the first 6 months and to 8.00% after the first six months. At least $10,000 of the loan amount borrowed must be new money. Offer applies to owner occupied, single-family primary dwellings only. Property Insurance will be required. Flood insurance, if applicable, may be required. Maximum combined loan to value up to 89.99%. Fees could range from $695 to $925. There is an annual fee of $25. Subject to credit approval.

FIXED RATE LINE OF CREDIT: Offer is based on a credit review and automatic payment from a Somerset Trust Company account. The lowest rate currently available (without automatic payment) is 7.75% as of January 16, 2025. With automatic payment from a Somerset Trust Company account, the lowest possible rate is 7.25% with an Annual Percentage Rate of 7.25%. Monthly minimum payment is 1% of the outstanding balance or $100 whichever is greater. If only the minimum payment is made each month, a balloon payment may result. If you made 59 monthly payments of $201.58, one final payment of $201.15 and took no other credit advances, it would take 5 years to pay off a credit advance of $10,000 at an Annual Percentage Rate of 7.75%. The term is 5 years. This product has a $25.00 annual fee. Your rate may be higher based on your credit review, loan amount, equity of your home, and automatic payment. Maximum allowable loan to equity value ratio (LTV) is 89.99%. Offer applies to single-family primary residence; owner occupied homes and is not for home purchase. Property, title and/or flood insurance, if applicable may be required. An appraisal may be required. Other rates and terms are available. Offer of credit is subject to credit approval. This product has a $99.00 document preparation fee, which may be waived with automatic payment from a Somerset Trust Company account. Additional fees may apply for lien recording and release as designated by county. Offers are subject to change without notice. 

Click here to see more information about Home Equity Lines of Credit.