Updated Branch Hours - Eau Claire Location

Effective Friday, February 5th, 2021, our Eau Claire location will be temporarily updating their Friday hours to 8:30 AM to 5:00 PM.

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buying a new house

Home Loans... More than just a rate.

Posted On: January 4, 2021 by Prevail Bank in: Home Loans

What is a mortgage loan rate?

Rate or interest is simply a percentage of the loan a lender charges to borrow money. This figure is beneficial to know so you can compare the cost of different lenders. To make the comparison easier, lenders must also inform you about how that interest rate will affect your payments over an entire year. This interest is known as the Annual Percentage Rate or APR, and it also includes any fees or additional costs associated with the loan.

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Tags: buying a new house, home loan, Mortgage Lender, mortgage rates

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