Pre-Qualify
Interest Rates are effective as of April 7, 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:
| Line | APR* | Current APR | Auto-Deduct Discount** | Current APR with Discount |
|---|---|---|---|---|
| $10,000 – $24,999 | Prime + 2.50% | 5.75% | 0.25% | 5.50% |
| $25,000 – $49,999 | Prime + 1.50% | 4.75% | 0.25% | 4.50% |
| $50,000 – $99,999 | Prime + 1.00% | 4.25% | 0.25% | 4.00% |
| $100,000 – $400,000 | Prime + 0.50% | 3.75% | 0.25% | 3.50% |
12 month promotional rate = 1.99% (limited time offer)
Equity Select Variable Rate: *Prime equals the highest rate identified by The Wall Street Journal as the prime rate in its table entitled “Money Rates” as of the monthly determination date in the agreement. The Prime Rate in effect as of 3/17/2020 is 3.25% APR. This rate may vary monthly. 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. No annual fee.
**Your rate will be reduced by 0.25% when you have your payment auto deducted from an Evans Bank Account (Discount for auto deduction is not applied to introductory or promotional rates.) Consult a tax advisor regarding deductibility of interest.
Fixed Rate Option:
Lock in the security of up to four fixed-rate loans at any one time at the following APRs and Terms:
| Term | APR*** |
|---|---|
| 5 Years | 3.750% |
| 10 Years | 4.500% |
| 15 Years | 4.750% |
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.
