Rates
Rates effective July 29 - August 4, 2010
Certificate of Deposit
| TERM | APY | INTEREST RATE |
|---|---|---|
IRA Investments on Certificates 12 Month or Longer
(Does not include Your Choice CD)
| Checking Accounts | APY | Rate |
|---|---|---|
| Savings Accounts | APY | Rate |
|---|---|---|
APY = Annual Percentage Yield
Rates subject to change without notice.
Fixed Rate Home Equity
| Primary/Secondary Res. | Maximum Amount: | $500,000.00 | Maximum LTV: | 80%**** |
| Investment Property | Maximum Amount: | $250,000.00 | Maximum LTV: | 65% |
| Primary/Secondary | |
|---|---|
| Investment | |
|---|---|
Title Insurance required in some instances.
Interest Only Home Equity Line Of Credit**
| Primary/Secondary Res. | Maximum Amount: | $500,000.00 | Maximum LTV: | 80%**** |
| Investment Property | Maximum Amount: | $250,000.00 | Maximum LTV: | 65% |
| Primary/Secondary | |
|---|---|
| Investment | |
|---|---|
Adjusted monthly, Prime Rate as indicated in the Wall Street Journal. 20 year term, first 10 years are draw period with interest only payments, remaining 10 year pay back period with 1/120 principal plus interest monthly. No draws permitted during repayment period. Title insurance required in some instances.
Current Prime Rate: 3.25%
| Processing Fee: | $50.00 for Primary/Secondary Residence |
| $150.00 for Investment Properties |
ALL REAL ESTATE SECURED LOANS ARE FOR 1 TO 4 FAMILY DWELLINGS ONLY
* THESE RATES INCLUDE A ½% REDUCTION WHEN AUTOMATIC DEBIT IS UTILIZED
** THIS PRODUCT IS NOT ELIGIBLE FOR THE ½% REDUCTION IN RATE
***Minimum Interest Rate or Floor of 4.50%
****Maximum LTV 75% if first mortgage not held by Ocean City Home Bank
Rates subject to change without notice.
