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Rate
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| Rates are Current as of 2/1/2008 |
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| HOME EQUITY LINES OF CREDIT (EasyMoneyLine) |
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| Put the equity in your home to work for you with a low interest East West Bank EasyMoneyLine home equity line of credit. |
EZ-1
Minimum Loan Amount is $10,000 - Requires Full Income Documentation
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| Interest Rate |
Maximum
Loan Amount |
Combined
Loan to Value |
Property Types |
| Prime + 2.00% |
$250,000 |
60% |
| Owner occupied SFRs, Condos, PUDs, 1-4 units, 2nd & Vacation Homes |
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EZ-2
Minimum Loan Amount is $10,000 - Requires No Income Documentation |
| Interest Rate |
Maximum
Loan Amount |
Combined
Loan to Value |
Property Types |
| Prime + 2.00% |
$250,000 |
55% |
| Owner occupied SFRs, Condos, PUDs, 1-4 units, 2nd & Vacation Homes |
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EZ-3
Minimum Loan Amount is $10,000 - Requires No Credit History and Income Documentation |
| Interest Rate |
Maximum
Loan Amount |
Combined
Loan to Value |
Property Types |
| Prime + 2.00% |
$250,000 |
50% |
| Owner occupied SFRs, Condos, PUDs |
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The annual percentage rate is based on the "prime rate" as published in the Money Rates table of the Wall Street Journal, Western Edition (the "Index"). The Index value used for a given billing cycle will be the value published on the first day of that billing cycle. If the Index is not published on that day, the most recently published value before that day will be used to determine the daily interest rate. If more than one prime rate is published, the Index will be the highest of the rates published. To determine the annual percentage rate that will apply to your account, we will add a margin to the value of the Index.
To open and maintain an account, the following fees may be applied:
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Loan Documentation Fee: $99.00. |
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Annual Charge: $50.00, due annually, beginning with the second year.
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Third Party Origination Fees: If your property is a condominium, PUD, or single family dwelling, your loan request does not exceed $250,000 and there is a first mortgage already on the property that will remain after you open your line, you will not owe any third party origination fees. In other instances, you must pay certain fees to third parties, such as appraisers and title companies. These fees generally total between $1,000.00 and $2,000.00. If you ask, we will give you an itemization of these fees we estimate that you will have to pay to third parties. |
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Early Closure Fee: An Early Closure Fee of $500 will be assessed if your EasyMoneyLine is paid off and closed within the first three (3) years after the account "Opening Date". The Early Closure Fee will not be assessed if your EasyMoneyLine is paid off as a result of the sale of the property securing the subject line of credit. |
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Other Requirements: |
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The subject property must be located in California. |
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Rates and terms are subject to change without notice. |
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Hazard and flood insurance (if required) must be in effect on the property securing the account. |
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