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Home Equity Loan

Savings Bank offers a fixed rate option to use the equity in your home for your specific needs.

Account Details

  • Fixed interest rate
  • Collateral: 2nd lien on owner occupied residences
  • Amortization periods up to 15 years (180 months)
  • Combined loan to value up to 80% of the appraised value, depending on the loan amount

Rate Details

Amount APR Interest Rate Term Fees
$10,000 to $250,000 5.49% 5.49% 60 Months *
$10,000 to $250,000 5.99% 5.99% 180 Months *

Please contact us at (707) 462-6613 or email at for information regarding 1st lien positions and loan amounts over $250,000.


Interest Rate
Rates shown are effective as of 03/22/2019 and are subject to change without notice. APR is based on the amount you finance and the term (length) of your contract. Typical Payment Example: For a 15 year (180 months) fully amortized equity loan in 2nd lien position in the amount of $100,000 at an APR of 5.99%, with an interest rate of 5.99%, would be repayable in 180 monthly payments of $843.32.

Credit Approval
Loans are subject to credit approval.

Insurance requirement
Property insurance required; flood insurance is also required if the property is in a special flood hazard area.

*You may have to pay certain fees to third parties such as title companies and government agencies, when a sub-escrow is required to pay off an existing lender, or if vesting corrections are needed. These fees can range from $400 to $2,000. Savings Bank of Mendocino County will pay up to $519 in closing costs.

As of 1/1/2018, the State of California has imposed a new recording fee for real estate secured transactions. The fee is $75 per recorded document, not to exceed $225. The fee is paid to the County Recorder and will be placed into an affordable housing fund by the state. The fee will not be paid by the Bank.

Non-owner occupied – Non-owner occupied home loans are also available. Rates and APRs will be higher, and additional fees will apply. Maximum loan to value not to exceed 75%. Contact us for more information.

NMLS# 472412