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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 (ANNUAL PERCENTAGE RATE) 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 10/16/2021 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.

Second homes and vacation homes- add 0.50% to the interest rate and APR.

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