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| Fixed Rate Mortgages as of
May 7, 2008 |
| |
Owner-Occupied Mortgage Loans (1-4 Family) |
| |
| Program |
Down Payment |
Maximum Loan |
Maximum Term |
Interest Rate |
Points |
Annual
Percentage
Rate |
Monthly P&I* PER $1,000 |
| 30 Years |
20% |
See Below For Loan Limits |
30 Years |
5.625% |
2 |
5.810% |
$5.76 |
| 20 Years |
20% |
20 Years |
5.500% |
2 |
5.747% |
$6.88 |
| 15 Years |
20% |
15 Years |
5.000% |
2 |
5.308% |
$7.91
|
| 10 Years |
20% |
10 Years |
4.625% |
2 |
5.062% |
$10.42 |
| Bi-Weekly |
20% |
30 Years |
5.625% |
1 |
5.730% |
$5.76 |
| NO POINTS/NO CLOSING COST PROGRAMS |
| 30 Years |
20% |
Minimum $100,000 |
30 Years |
6.625% |
0 |
6.625% |
$6.40 |
| 15 Years |
20% |
15 Years |
6.000% |
0 |
6.000% |
$8.44 |
| 10 Years |
20% |
10 Years |
5.625% |
0 |
5.625% |
$10.91 |
| Fixed Rate Loan Limits: |
1 Unit, $417,000; 2 Unit, $533,850; 3 Unit, $645,300;
4 Unit, $801,950 |
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| Adjustable Rate Mortgages as
of May 7, 2008 |
| |
Owner-Occupied Mortgage Loans (1-4 Family) |
| |
| Program |
Down Payment |
Maximum Loan |
Maximum Term |
Interest Rate |
Points |
Annual
Percentage
Rate |
Monthly P&I* PER $1,000 |
| 5/3 Program |
20% |
$417,000 Single
$533,850 2-4 Family
|
40 Years |
5.125% |
1 |
5.285% |
$4.91 |
| 5/3 Program |
20% |
30 Years |
5.125% |
1 |
5.292% |
$5.44 |
| 3 Year ARM |
20% |
30 Years |
4.750% |
1 |
5.218% |
$5.22 |
| 7/1 Year ARM |
20% |
30 Years |
5.500% |
1 |
5.147% |
$5.68 |
* (P&I) Principal and Interest
-Convertible rate option may be available for qualified applicants.
-High LTV financing available for many owner/occupied programs w/PMI.
Ask Loan Officer for details and APR.
-No point option available for Owner Occupied Products Fixed Rate
and Adjustable Rate Mortgages. Ask Loan Officer for APR. |
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| First Time Homebuyer Programs
as of May 7, 2008 |
| |
Owner-Occupied Mortgage Loans |
| |
| Program |
Down Payment |
Maximum Loan |
Maximum Term |
Interest Rate |
Points |
Annual
Percentage
Rate |
Monthly P&I* PER $1,000 |
| FTHB 5/3 ARM |
20% |
$417,000 Single
$533,850 2-3 Family
|
30 Years |
5.250% |
0 |
5.250% |
$5.52 |
| FTHB FIXED Bi-Weekly |
20% |
30 Years |
5.875% |
0 |
5.875% |
$5.92 |
* (P&I) Principal and Interest
-Minimum Down Payment for above first time homebuyer programs is 5%.
-Eligible properties 1-3 unit, owner occupied properties.
-Some income and property location restrictions may apply. Ask Loan
Officer for details. |
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| Non-Owner Occupied Mortgage
Loans as of May 7, 2008 |
| |
(1-4 Family) |
| |
| Program |
Down Payment |
Maximum Loan |
Maximum Term |
Interest Rate |
Points |
Annual
Percentage
Rate |
Monthly P&I* PER $1,000 |
| Bi-Weekly (Fixed) |
20% |
$417,000 Single
$533,850 2-3 Family
|
30 Years |
6.750% |
1 |
6.864% |
$6.49 |
| 3 Year ARM |
20% |
25 Years |
5.750% |
1 |
5.674% |
$6.29 |
| 5/3 Year ARM |
20% |
25 Years |
6.125% |
1 |
5.876% |
$6.52 |
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| Land Loans as of May 7, 2008 |
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Land must be approved buildable lot with paved street frontage. |
| |
| Program |
Down Payment |
Maximum Loan |
Maximum Term |
Interest Rate |
Points |
Annual
Percentage
Rate |
Monthly P&I* PER $1,000 |
| 3 Year ARM |
25% |
$417,000 |
25 Years |
6.750% |
1 |
5.958% |
$6.91 |
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|
| Easy Credit Lines* effective
through May 13, 2008 |
| |
Minimum Credit Line - $500
Maximum Credit Line - $3,000 |
| |
| Annual Percentage Rate |
| 18% |
|
*Available only with an EBSB checking account. |
|
| Automobile effective through
May 13, 2008 |
| |
*Up to 100% Financing on New Cars. Maximum Loan Amount for New
Cars is $50,000. Minimum down payment for Used Cars is 10%. |
| |
| Term |
New
Car
(2008 and dealer left over 2007)
Annual Percentage Rate |
Monthly
Principal & Interest per $1,000 borrowed |
Used
Car (2007, 2006, 2005) Annual Percentage Rate |
Monthly
Principal & Interest per $1,000 borrowed |
|
12 Mos. |
5.00%
|
$85.61
|
5.75%
|
$85.95
|
|
24 Mos. |
5.00%
|
$43.87
|
6.00%
|
$44.32
|
|
36 Mos. |
5.00%
|
$29.97
|
6.25%
|
$30.54
|
|
48 Mos. |
5.25%
|
$23.14
|
6.50%
|
|
|
60 Mos. |
5.50%
|
$19.10
|
N/A |
N/A |
|
| Home Equity Line of Credit
effective through May 13, 2008 |
| Product |
Annual Percentage Rate |
Minimum Payment Options |
Maxium Loan Amount |
Loan to Value |
Term |
| Monthly Variable |
Prime Rate Minus 1.50%*
Variable Monthly
(as of 04/30/08 Prime Rate =5.25%)
|
1% of outstanding balance (P&I) not less than $100 a month.
Note: An Interest Only option is also available
with this product.
|
$500,000 |
80% with EBSB 1st Mortgage
and 75% with all other banks. |
15 Year Total Term.
10 Year Draw. Remaining 5 Years, Fixed P&I repayment of outstanding
balance.
|
| 5 Year (5/5/5) Variable
|
Prime Rate Minus 1.00%* Fixed for 5 years. Rate
will then adjust to current Prime minus 1% Years 6 and 11.
(as of 04/30/08 Prime Rate =5.25%)
|
1% outstanding balance (P&I) not less than $100 per month.
Note: An Interest Only option is also available
with this product.
|
$500,000 |
80% with EBSB 1st Mortgage
and 75% with all other banks. |
15 Year Total Term.
10 Year Draw. Remaining 5 Years, Fixed P&I repayment of outstanding
balance.
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*Additional 0.25% off rate with an open money market account.
Closing costs may apply in some situations (all Prime Line Products).
Annual fee $25.00 Early termination fee of $250 applies for loans
closed within first 12 months. Maximum annual percentage rate not
to exceed 18%. Consult your tax advisor regarding deductibility
of interest.
Additional fees may be applicable if the Prime Line will be a first
mortgage.
Prime Rate as published in the Wall Street Journal on the last business day of the month.
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If you have any questions about East Boston Savings Bank's residential loans or services, please
consult one of our Residential Loan Officers by calling (800) 657-3272, or click
"Contact Us" to e:mail our Residential Lending Division. |
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Equal Housing Lender.