Stonebridge Bank

Frequently Asked Questions

About Stonebridge Consumer Loans

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  1. How do I apply for a loan?
    Visit www.stonebridgebank.com and review your loan options and disclosures. Use the loan calculator to determine the type of loan and the amount that meets your needs. Complete the online application and submit!

  2. What happens after my loan application is submitted?
    • Unsecured Loans:
      Your application will be processed once we receive your income verification. Once the consumer loan department reviews the application, you will be notified regarding the status of your application. If we require additional information, we will ask you to provide that information.

    • For Home Equity Loans:
      After receiving and processing your application, we will verify your income and perform a title search on your property. We then order an appraisal and make a decision.

  3. How do I know if I have been approved?
    You will be notified of the decision on your loan application. You will receive the final loan amount, rate and payment amount at this time. You will then schedule a time and date for your loan closing and the bank will inform you of any additional information that is needed for the loan closing.

  4. When do I get my loan proceeds?
    Once the loan documents are signed and returned to us, you will receive your loan proceeds. Home Equity Loans require a 3-day right of rescission before funds are available. The loan documents will require the signature and seal of a notary IF the loan closing is not done in person.

  5. What do I need to do to increase the amount of my line of credit?
    You will need to apply online to increase the amount of your Stonebridge line of credit. Please make a note in the “comments” section that you want to increase your existing line of credit. Pending approval, the old line will be paid off and you will be issued a new line of credit. The new line amount should reflect both the old and the new amount.

  6. What is rescission?
    Rescission is the 3-day period from the time of signing until you can receive your funds. This gives you the option to change your mind and cancel the loan, without any penalty, during this 3-day period.

  7. What is the difference between an allotment and ACH?
    An allotment is a payment that is taken from an existing Stonebridge Bank account. An ACH is a payment taken from an outside bank account.

  8. What is the billing cycle?
    Your monthly bill is sent 15 days prior to your due date. You have 15 days from your due date until a late fee is assessed.

  9. How can I obtain a payoff for my loan?
    All payoff requests must be in writing and faxed to the payoff department at 610-235-1524. Please include instructions as to where to mail or fax the payoff letter.