Skip to content

A Home Equity Line of Credit uses the equity in your home as a source of revolving credit.***

As low as a variable 4.50% APR* after the introductory term.
**$295 Processing fee waived for the Introductory Rate promotion.
Introductory rate valid on approved applications received by October 31, 2019.
Only available to new Evergreen Bank HELOC customers.

Call a Consumer Lending Specialist at (888) 505-BANK (2265) or apply online today!

Please scroll down the page for details, terms and rates.

 Rates.

Key Features

Revolving Credit***

Local Processing

Quick Decisions

An introductory fixed Annual Percentage Rate of 3.99% will apply for the first twelve (12) months as of the loan closing date (the Introductory Period). After the Introductory Period expires, the terms and conditions of the Variable Rate Feature will apply. This means that the monthly minimum payment will increase after the Introductory Period.

Offer is only available for new Evergreen Bank Group Home Equity customers. Offer good for all approved applications received by October 31, 2019. Offer is subject to credit approval.

The 4.50% APR is based on 80% combined loan-to-value (CLTV) for $100,000 to $200,000 approved line at Prime -.50% or 4.50%, whichever is higher. APR may vary after first 12 months. APR will change based on Prime plus or minus a margin designated by program and plan selected. The APR is indexed to the Prime Rate as posted in the Wall Street Journal. As of 9/18/19, Prime is 5.00%.

Annual Percentage Rate (APR) shown is available as of 9/18/19.

A HELOC offers competitive financing for ongoing or seasonal needs:

  • Education expenses
  • Major life events
  • Home improvements
  • Debt consolidation
  • Flexible repayment terms

Benefits to opening an Evergreen Home Equity Line Of Credit:

  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit, as principal is repaid, more becomes available for use
  • The interest paid may be tax deductible1
  • Local decision-making and processing
  • Attentive, friendly service from start to finish

1Consult a tax advisor.

  • ***10 Year Interest Only Draw Period/10 Year Principal and Interest Repayment Period
  • IL Property Only, Primary Residence, Owner Occupied, Single Family Residence or Condo (no multi-unit or co-op properties)
  • Rate floor on floating rate line of credit program is 4.50% 
  • Processing fee $295/file at closing
  • Annual Fee $50
  • Early Termination Fee (if account is closed within 24 months of opening) $350
  • HELOC payments are due on the 25th of each month (statements are generated on the last day of each month)
  • Minimum advance amount per draw is $500
  • Property insurance is required
  • Credit subject to approval
  • Rates are variable and are based on the Wall Street Journal Published Prime Rate
  • Rates, terms, and conditions are subject to change at any time

*APR (Annual Percentage Rate) based on your Combined Loan-to-Value (CLTV), your approved line amount, and credit criteria, and will range from a variable APR of Prime - 0.50% to Prime + 1.50%, subject to change with Prime. As of today, the Prime Rate is 5.00%. The "floor" is 4.50% and the "ceiling" is 19.90%. No discount rate programs or promotions apply. Rates are variable and may increase after consummation. The floor rate is the minimum rate you may be charged on the line of credit. Your rate may never go below the floor rate, regardless of the Index + margin rate.

80% Combined Loan to Value Program
Combined Loan to Value: up to 80% Maximum Loan Amount $200,000

Amount Interest Rate (Prime 5.00%) APR* / Rate Floor 4.50%
$100,000 to $200,000 Prime - .50% to Prime + .00% 4.50% to 5.00%
Up to $99,999 Prime - .25% to Prime + .25% 4.75% to 5.25%

Note: Rates are based on loan amounts, credit qualifications and FICO scores.

If you had an outstanding balance of $10,000, during the draw period the minimum payment at the maximum Annual Percentage Rate of 19.90% would be $169.01, during the repayment period on a balance of $10,000 the minimum payment at the maximum Annual Percentage Rate of 19.90% would be $192.58. Annual Percentage Rate varies based on a maximum loan to value 80%, owner-occupied properties, depending upon your commitment amount and credit qualifications. Offer applies to an owner occupied single family residence or condo and is subject to underwriting standards. Property insurance is required; flood insurance may be required. Rates are dependent on your loan amount, product and qualifications. Closing costs paid by Evergreen Bank Group are limited to title, appraisal, credit report, flood determination and recording fees. Consult your tax advisor regarding the tax-deductibility of interest. This offer cannot be combined with any other offer and can be withdrawn at any time without notice. Offer subject to credit approval, including verification of application information and receipt of collateral documents. This offer does not apply to purchase money transactions. 

85% Combined Loan to Value Program
Combined Loan to Value: 80.01% - 85% Maximum Loan Amount $125,000
(80% when 1st Mortgage Exceeds $1,000,000)

Amount Interest Rate (Prime 5.00%) APR* / Rate Floor 4.50%
$50,000 to $125,000 Prime + .25% to Prime + .75% 5.25% to 5.75%
Up to $49,999 Prime + .75% to Prime + 1.25% 5.75% to 6.25%

Note: Rates are based on loan amounts, credit qualifications and FICO scores.

If you had an outstanding balance of $10,000, during the draw period the minimum payment at the maximum Annual Percentage Rate of 19.90% would be $169.01, during the repayment period on a balance of $10,000 the minimum payment at the maximum Annual Percentage Rate of 19.90% would be $192.58. Annual Percentage Rate varies based on a maximum loan to value 85%, owner-occupied properties, depending upon your commitment amount and credit qualifications. Offer applies to an owner occupied single family residence or condo and is subject to underwriting standards. Property insurance is required; flood insurance may be required. Rates are dependent on your loan amount, product and qualifications. Closing costs paid by Evergreen Bank Group are limited to title, appraisal, credit report, flood determination and recording fees. Consult your tax advisor regarding the tax-deductibility of interest. This offer cannot be combined with any other offer and can be withdrawn at any time without notice. Offer subject to credit approval, including verification of application information and receipt of collateral documents. This offer does not apply to purchase money transactions.

90% Combined Loan to Value Program
Combined Loan to Value: 85.01% to 90% Maximum Loan Amount $75,000
(80% when 1st Mortgage Exceeds $1,000,000)

Amount Interest Rate (Prime 5.00%) APR* / Rate Floor 4.50%
$50,000 to $75,000 Prime + .75% to Prime + 1.25% 5.75% to 6.25%
Up to $49,999 Prime + 1.00% to Prime + 1.50% 6.00% to 6.50%

Note: Rates are based on loan amounts, credit qualifications and FICO scores.

If you had an outstanding balance of $10,000, during the draw period the minimum payment at the maximum Annual Percentage Rate of 19.90% would be $169.01, during the repayment period on a balance of $10,000 the minimum payment at the maximum Annual Percentage Rate of 19.90% would be $192.58. Annual Percentage Rate varies based on a maximum loan to value 90%, owner-occupied properties, depending upon your commitment amount and credit qualifications. Offer applies to an owner occupied single family residence or condo and is subject to underwriting standards. Property insurance is required; flood insurance may be required. Rates are dependent on your loan amount, product and qualifications. Closing costs paid by Evergreen Bank Group are limited to title, appraisal, credit report, flood determination and recording fees. Consult your tax advisor regarding the tax-deductibility of interest. This offer cannot be combined with any other offer and can be withdrawn at any time without notice. Offer subject to credit approval, including verification of application information and receipt of collateral documents. This offer does not apply to purchase money transactions.

Free ATMs

Find a free STAR® ATM now