Conventional Loans
Conventional loans are our most popular option, following the Federal Housing Finance Agency (FHFA) limits, currently $766,550 in most areas. Need more? Ask about our Jumbo Loan Programs.
Low Down Payment Options (97% Loan to Value)
- 3% down payment for first-time homebuyers and other buyers
- Income-based options with reduced private mortgage insurance (PMI)
- Standard PMI for other buyers
- Seller can contribute up to 3% for closing costs
- Gift funds from relatives allowed (owner-occupied properties only)
Standard Down Payment Options (80.01-94.99% Loan to Value)
- Gifted down payments allowed
- Standard PMI coverage required
- Seller contributions:
- 3% for loans 90.01% to 95% LTV
- 6% for loans 80.01% to 90% LTV
No PMI Option (80% Loan to Value or Less)
- No PMI required
- Up to 6% seller assistance for closing costs
- Investment property financing available up to 80% LTV (2% seller assistance)
Important Notice: Interest Rates and Maximum Loan-to-Value may be based on Credit Score, Property Type, Occupancy, Purpose, Investor, Insurer, Loan to Value and other factors. Additional investor, insurer and Orrstown Bank criteria/conditions apply to all products. Information provided is for illustrative general use only and does not contain all qualification and automated underwriting approval requirements. Orrstown Bank reserves the right to change this information at any time. Meeting any of the criteria does not constitute a commitment to lend.
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