Mortgage Rates

Rates are current as of 5/12/08 and are subject to change without notice

FIXED RATE

Conforming
(Loan amounts of $150,000 to $417,000 with full documentation)

Loan Term	Rate	Points	APR	Monthly Payments
30 Years – Points and fees	5.750%	1.000	5.920%	$875.36
30 Years – Interest only	6.125%	0.875	6.271%	$765.63
30 Years – No points with fees	6.000%	0.000	6.077%	$899.33

Loan Term	Rate	Points	APR	Monthly Payments
15 Years – Points and fees	5.375%	0.750	5.618%	$1,215.70
15 Years – No points with fees	5.625%	0.000	5.753%	$1,235.60

 

Non-Conforming
(Loan amounts of $417,001 to $650,000 with full documentation)

Loan Term	Rate	Points	APR	Monthly Payments
30 Years – Points and fees	7.750%	3.500	8.156%	$3,008.93
30 Years – Interest only	10.250%	3.500	10.701%	$3,587.50
30 Years – No points with fees	N/A	N/A	N/A	N/A

Loan Term	Rate	Points	APR	Monthly Payments
15 Years – Points and fees	9.750%	2.125	10.179%	$4,449.32
15 Years – No points with fees	N/A	N/A	N/A	N/A

 

ADJUSTABLE RATE

Conforming and Non-Conforming
(Loan amounts of $150,000 to $650,000 with full documentation)

Loan Term	Rate	Points	APR	Monthly Payments
5/1 ARM – Interest only	7.500%	0.875	5.881%	$2,625.00
5/1 ARM – Points and fees	6.250%	0.875	5.396%	$2,586.01

 

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Disclosures & Assumptions
Conforming examples are based on a loan amount of $150,000. Non-conforming and ARM examples are based on a loan amount of $420,000. Annual Percentage Rate (APR) is calculated using total points and $1,235 in estimated closing costs.

All examples are based on the following conditions:

• Property is an owner-occupied single family residence
  
• Property is located in California
  
• Down payment or equity is 20%
  
• Income and assets are documented and are sufficient to qualify
  
• Rates and points are based on a 30-day rate lock period
• Credit subject to Far East National Bank approval

Adjustable-rate mortgage rates are subject to increase after the initial fixed rate period. Rates, fees, programs, and/or terms are subject to change without notice. Consult your tax advisor regarding tax deductibility of interest.

Representative Examples

• A 15-year loan of $250,000 with a 6.250% APR would have 180 monthly payments of $2,143.56.
  

• A 30-year loan of $250,000 with a 6.500% APR would have 360 monthly payments of $1,580.17.

If down payment is less than 20%, mortgage insurance may be needed, increasing the monthly payment and APR.