Conventional Fixed Rate Mortgage

Have peace of mind with the stability of a fixed rate mortgage. A conventional mortgage offers a favorable interest rate to borrowers. A fixed rate means the monthly payment (principal and interest) will remain the same for the entire term.

Fixed rate mortgages are ideal for borrowers who expect to be in their home for a long period of time, or borrowers who want the security of a fixed monthly payment.

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Bi-Weekly Mortgage

The Bi-Weekly Mortgage allows you "speed up" the repayment of a fixed rate mortgage.

Instead of one large monthly payment, smaller payments are automatically deducted from your Evans National Bank checking account.

Over the life of the loan, the total dollar amount of the interest paid is reduced because the principal is paid back sooner and paying less interest is certainly in your best interest.

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Three Year Adjustable Rate Mortgage

Enjoy a lower monthly payment during the first three years of your loan!
Our Three Year Adjustable Rate Mortgage is fixed at a low, discounted rate for the first three years. It may then adjust annually; that is, the interest rate can change every year according to market conditions. Because the rate can change, the payment can also change.

This product is ideal for the borrower who expects income to increase substantially in a short period of time or, who expect to pay down their principal quickly.

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Six Year Adjustable Rate Mortgage

Similar to the Three Year Adjustable Rate Mortgage, this loan is perfect for home buyers just starting out because it offers a lower initial payment.

With this loan, the reduced interest rate and payment is fixed for the fist six years. Depending upon market conditions, the rate may change annually after six years.

It is ideal for the borrowers who plan to move out of their home in a short period of time.

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MyCommunityMortgage

**NEW**NEW**NEW**NEW**NEW**NEW** 

No matter how hard you work or how much you save, sometimes it's hard to get enough for a big down payment.  But now you can say goodbye to a big down payment and hello to your new home!  You may need to put little or no money down, depending on your situation, with MyCommunityMortgage* - an affordable, flexible home loan.  Even if you:

-  Have limited savings for the down payment and closing costs
-  Do not have an established credit history, but can show that you pay your bills on time like rent and utilities

We can work with you to find a mortgage that fits your situation and help you buy a home - contact us to learn more.

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* MyCommunityMortgage is a trademark of Fannie Mae.

Construction Loans

The dream of building a home can become a reality with this single convenient program designed to take you through and beyond the construction loan period!

The short term "construction" loan is designed to cover costs during the building period. Funds are drawn as phases of the building are completed. Interest only payments are made monthly only on the amount of the money drawn.
Once the home is completed, the loan will be converted to a conventional mortgage of your choice.

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Express Mortgage

Refinancing a small, residential mortgage has never been easier or faster. With Evans National Bank's new Express Mortgage you'll have your check in hand in just weeks rather than months.

While the Express Mortgage rates are fixed at a slightly higher rate than conventional mortgages, closing costs are just a flat $400 rather than the thousands of dollars charged for conventional mortgages. So, call your local branch of Evans National Bank and get your refinancing plans on the fast track with the Express Mortgage.

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