Effective date: January 26, 2009
CONSUMER LOAN RATE SHEET (NEW LOANS AND RENEWALS)
BACK-END RATIO OF 40% IS MAXIMUM FOR FIRST UNITED BANK
CREDIT SCORE REQUIRED AT FIRST UNITED BANK IS 680 OR HIGHER
AUTO RATES - WE DO NOT FINANCE VEHICLES OLDER THAN THREE YEARS
| |
Year |
Rate/APR |
Term |
| New |
2009 |
7.35% |
3 years |
|
|
7.50% |
4 years |
| |
|
7.75% |
5 years |
| Used |
2008 |
7.90% |
3 years |
| |
|
8.00% |
4 years |
| |
|
8.25% |
5 years |
| |
2007 |
8.50% |
3 years |
Add 1/4% if not on automatic debit
HOME EQUITY LINE OF CREDIT (Based On The Current Prime Rate Of 3.25% As Posted In The Wall Street Journal)
UNDERWRITTEN USING A FIXED RATE OF 7.00% OVER 15 YEARS
| Loan Amounts |
LTV |
Rate |
APR |
Term |
Documentation Prep. Fee |
| $ 5,000 and over |
80% |
Prime + 1% |
4.25% |
7 years |
$350.00 |
Annual fee of $40.00
Rate will not exceed 18% or go below 4.25% at any time during the term of the loan
Loans over $250,000 require a title policy, flood determination and full appraisal; at the customers expense
Line must remain open for at least 2 years or a $350 cancellation fee will be assessed
Add 1/2% if not on automatic debit
HOME IMPROVEMENT (Fixed Rate - Fully Amortized *Based on a loan amount of $100,000)
NEW CUSTOMERS OR EXISTING CUSTOMERS WITH NEW MONEY REQUESTS
| Loan Amounts |
LTV |
Rate |
APR * |
Term |
Documentation Prep. Fee |
| $10,000 and over |
80% |
7.25% |
7.479% |
3 years |
$350.00 |
| $10,000 and over |
80% |
7.24% |
7.385% |
5 years |
$350.00 |
| $10,000 and over |
80% |
7.50% |
7.608% |
7 years |
$350.00 |
| $10,000 and over |
80% |
7.75% |
7.831% |
10 years |
$350.00 |
Loans over $250,000 require a title policy, flood determination, and full appraisal; at the customers expense
Add 1/2% if not on automatic debit
HOME IMPROVEMENT (Fixed Rate Balloon *Based on a loan amount of $100,000)
NEW CUSTOMERS OR EXISTING CUSTOMERS WITH NEW MONEY REQUESTS
| Loan Amounts |
LTV |
Rate |
APR* |
Term Balloon |
Documentation Prep. Fee |
| $10,000 and over |
80% |
7.50% |
7.634% |
3 year balloon / 20 year amortization |
$350.00 |
| $10,000 and over |
80% |
7.24% |
7.331% |
5 year balloon / 20 year amortization |
$350.00 |
| $10,000 and over |
80% |
7.75% |
7.822% |
7 year balloon / 20 year amortization |
$350.00 |
| $10,000 and over |
80% |
7.75% |
7.810% |
10 year balloon / 20 year amortization |
$350.00 |
Loans over $250,000 require a title policy, flood determination, and full appraisal; at the customers expense
Add 1/2% if not on automatic debit
SAVINGS
3.00% Over CD or Savings rate. APR is consistent with current CD or Savings Rate plus 3%.
Based on a loan amount of $5,000 with a 12 month CD rate at 5.75%, the payment would be $436.68 with an effective APR of 8.75%.
FULLY IMPROVED RESIDENTIAL LOTS
8.50%, Closing Fee $1,000.00, Maturity 1-3 years, amortization up to 20 years with 25% down.
Based on a loan amount of $75,000 at a rate of 8.50% over 3 years, 20 year amortization, the P & I payment would be $651.00 with an APR of 9.023%
CONSTRUCTION LOANS
Prime + 2 3/4% Floating, Rate Floor of 6.00%, Closing Fee $ 2,000.00 plus $150.00 per inspection, with a maximum maturity of 12 months.
Based on a loan amount of $225,000 at a rate of 6.00%, with a rate floor of 6.00%, over 12 months, the payment of interest only would be $1,146.69 with an APR of 8.360%
ANY OWNER/GENERAL CONTRACTOR MUST BE APPROVED BY CHIEF LENDING OFFICER
EXCEPTIONS TO BE
REVIEWED AND APPROVED BY CHIEF LENDING OFFICER
RATES AND TERMS ARE SUBJECT TO CHANGE WITHOUT
NOTICE
