Interest Rates are effective as of December 11, 2018.

Fixed Rate Home Equity Annual Percentage Rates (APR)

Term APR, 1st Lien Position APR, 2nd Lien Position
10 Years 5.375% 6.250%
15 Years 5.625% 6.500%
20 Years* 5.625% 6.500%

Return to Current Rates

Interest Rate and Annual Percentage Rate (APR) may change.

Your loan is secured by a mortgage on your home and mortgage insurance is required. If your home equity mortgage is discharged within three years of origination, closing costs must be returned to the bank.  Based on a $10,000 fixed rate home equity for 5 years at 5.50%, your monthly payment would be $191.01.

*New – Maximum term is 20 years

Consult a tax advisor regarding deductibility of interest. Other mortgage loans and home equity lines of credit are available.

Reduction of .25% will be honored with auto deduct from an Evans Bank checking account.

A Home Equity is in first lien position when no other loan secured by the property is in a senior position. A second lien uses the debtor’s house as collateral while also having another loan, in a senior position, secured by the house.