Your First Step Towards Securing Your Dream Home
Ready to take the leap and purchase a residential property for your personal or investment needs? At EvaBank, we make it easy to know where you stand on the property ladder with a straightforward application process and interest rates based on your personal circumstances.
As an independently owned bank, we strive to see the bigger picture of your finances. This is why as a lender, we’re committed to understanding your entire financial situation and basing loan decisions on more than just your credit score.
Find a financial rhythm that works for you.
A Residential Property Loan You Can Count On
Because EvaBank loan approval isn’t based on your credit score, our lenders naturally invest time into understanding your unique position as a customer. If purchasing a home is what you want to do, we’ll do our very best to support this process with our lending services.
At EvaBank, we can offer site built home and land loans with terms ranging up to 360-month amortization, based on a 5-1 ARM (Adjustable Rate Mortgage). With flexible and competitive repayment options to investigate with your lender, your best approach to residential property loans is to start with EvaBank.
Want a headstart on your pre approval? Why not complete our pre-qualification worksheet?
No Prepayment Penalties on Your Loan
Another unique benefit of EvaBank is that you only need to pay interest on the amount outstanding on your residential property loan, and only for the length of time you have the loan.
Interest Rates Tailored to You
Even though your credit score won’t automatically impact the type of loan you can secure, the higher your credit score, the lower your rates and down payment can be.
That said, if you happen to have a bad credit rating, it’s always worth reaching out to our team to discuss your options. We offer a range of loan options that can be adapted to your financial standing — just get in touch to find out more!
Your Loan Application Process
Applying for any kind of loan can be a daunting process, but luckily our team of lenders are here to support and guide you along the way.
After reaching out to our team and submitting some important details, our lenders will check your credit score and get to work on evaluating the full scope of your financial situation.
Once we have a clearer picture of where you stand, we’ll be able to provide you with additional details about the type of loan you qualify for and the type of rates you can expect.
Once we’re all on the same page about the terms of your loan, it’s time to prepare your down payment. For residential property loans, your lender will provide more information on the minimum down payment during the approval process.
Now comes the fun part! Once you have the finer details of your loan pre approval in order, it’s time to decide on the type of property you want. Once you’re ready to proceed further — we’ll be on hand to help!
Frequently asked questions
Partner with an independent Alabama bank that’s invested in your future.