Mortgage Lender East West Bank
East West Bank is one of the largest independent commercial banks headquartered in Los Angeles. The bank provides a wide range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals.
East West Bank has 69 branches in California located in the following counties: Los Angeles, Orange, San Bernardino, San Francisco, San Mateo, Santa Clara and Alameda. In addition, the bank has one bank branch in Houston, Texas.
The bank offers a broad range of products designed to meet the credit needs of its borrowers. The bank’s lending activities include residential single family loans, residential multifamily loans, commercial real estate loans, construction loans, commercial business loans, trade finance loans, and consumer loans.
East West Bank offers a variety of mortgage loans. The bank originates mortgage loans to purchase a new home or refinance an existing home. East West Bank’s mortgage rates and fees are highly competitive.
The bank offers both fixed and adjustable rate (“ARM”) single family residential mortgage loan programs. The bank’s ARM loan programs have six-month, three-year, five-year, or seven year initial fixed periods. We originate single family residential mortgage loans
The bank also offers both fixed and adjustable rate multifamily mortgage loan programs.
The underwriting criteria for the mortgage loans generally include minimum FICO scores, maximum loan-to-value ratios and minimum debt coverage ratios.
Current mortgage rates and mortgage loan terms from East West Bank include the following:
30 year fixed rate mortgage with rate of 5.250% and 0.625 points with an APR of 5.446%
15 year fixed rate mortgage that has a rate of 4.625% and 0.625 points with an APR of 4.946%
For more flexible underwriting to meet special borrowing needs, the bank offers some portfolio home loan programs including:
6 month adjustable rate mortgage with a rate of 7.000% and 1.0 point and an APR of 8.107%
3/1 ARM with a mortgage rate of 6.625%, 1 point and an APR of 6.773%
Mortgage rates subject to change and require loan approval. Standard conditions mortgage loan and mortgage rate conditions include: the property is a single family used as your primary residence, except for the multi-family product which assumes a non-owner occupied residence. The property for the mortgage loan is located in California. The down payment towards the property is 25%. Income and assets are documented and are sufficient to qualify for the mortgage loan. There will be no subordinate financing behind the newly created 1st Mortgage. Mortgage rates and points are based on a 30 day lock period. Borrower’s credit is subject to East West Bank approval.
For current mortgage rates and account details contact a bank representative at 888-895-5650. Mortgage rates and additional mortgage loan information is also posted online at the bank website located at www.eastwestbank.com.
For CD interest rates offered by East West Bank visit, www.selectcdrates.com. For current auto loan rates from East West Bank visit, www.selectautorates.com.