Evans Bank - 100 Years

Variable Rate Home Equity Lines of Credit

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12 month promotional rate = 1.99% APR* (limited time offer)

Interest Rates are effective as of October 20, 2020. 

Check out our full line of Variable Rate Home Equity Lines of Credit, including our Better Equity Select, a Variable Rate Home Equity with a Fixed Rate Payment option. Equity Select Annual Percentage Rates (APR). 

Variable Rate Option:

LineAPR*Current APRAuto-Deduct Discount**Current APR with Discount
$10,000 – $24,999Prime + 2.50%5.75%0.25%5.50%
$25,000 – $49,999Prime + 1.50%4.75%0.25%4.50%
$50,000 – $99,999Prime + 1.00%4.25%0.25%4.00%
$100,000 – $400,000Prime + 0.50%3.75%0.25%3.50%

Equity Select Variable Rate: *Your Annual Percentage Rate (APR) on the variable rate option may be 1.99% for the first 12 billing cycles. After the first 12 billing cycles, the rate will increase to Prime + 2.50% for lines up to $24,999.99, Prime + 1.50% for lines between $25,000 – $49,999.99, Prime + 1.00% for lines between $50,000 – $99,999.99 and Prime + 0.50% for lines of $100,000 or more. The maximum APR will not exceed 16.90%. Prime equals the highest rate identified by The Wall Street Journal as the Prime Rate in its table listed “Money Rates” as of the monthly determination date in the agreement. The Prime Rate in effect on 5/1/20 is 3.25%. Rate subject to change without notice. Contact any branch for further details. If your loan is paid and your home equity mortgage is discharged within 3 years of origination, closing costs must be returned to the bank. Consult a tax advisor regarding deductibility of interest.

**Have your payment auto deducted from an Evans Bank Account and your Rate will be reduced by 0.25%. Discount for auto deduction is not applied to 1.99% introductory rate. Fixed rate options available but not subject to discount for auto deduction. For either option, your loan is secured by a mortgage on your home and homeowner’s insurance is required. Introductory rate is available for applications received through 12/31/20.

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Fixed Rate Option:

Lock in the security of up to four fixed-rate loans at any one time at the following APRs and Terms:

TermAPR***
5 Years3.250%
10 Years4.000%
15 Years4.250%

Fixed Rate: *** A monthly payment of $183.04 for a $10,000 loan at 3.75% is based on a five year repayment schedule. Your line is secured by a mortgage on your home and property insurance is required. If your line of credit is paid and your home equity mortgage is discharged within three years of origination, closing costs must be returned to the Bank. Consult a tax advisor regarding deductibility of interest.

Return to Current Rates