Real Estate Loans Rates

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Rates are current as of May 29, 2008 and are subject to change.
MECU Rates are published each Sunday in the Real Estate section of the Baltimore Sun.

Since 1981, MECU has paid its members a cash bonus at the end of the year. In 2008, MECU will pay it twice - in June and December. The interest rates listed below will be lower for 2008 because of the cash bonus.

Conventional Mortgages (Purchases up to 95% Loan to Value or $417,000, whichever is lower)	Base Rate	APR*
30-Year Fixed - Purchase	6.000% - No points	6.080%
30-Year Fixed - Refinance	6.250% - No points	6.331%
15-Year Fixed - Purchase/Refinance	5.375% - No points	5.506%
20-Year Fixed - Purchase/Refinance	6.000% - No points	6.106%
3/1 ARM** - Purchase/Refinance	4.750% - No points	5.213%
5/1 ARM** - Purchase/Refinance	5.250% - No points	4.384%
7/1 ARM** - Purchase/Refinance	5.500% - No points	4.692%
Two-Step Mortgage - Purchase/Refinance	5.875% - No points	5.954%
For current rates on Fixed and Adjustable Rate Jumbo Mortgage Loans over $417,000, please contact our mortgage lending partner: Financial Security Consultants (410) 823-3300 or (800) 730-7599 www.fscontheweb.com *For Investment properties add 0.500% to the above rates.* ** Expanded Approvals also available
Buy in Baltimore Mortgages & Qualified First Time Homebuyers (Primary residence purchases only; up to 95% Loan to Value or $417,000, whichever is lower)
30-Year Fixed	5.750% - No points	5.829%
15-Year Fixed	5.125% - No points	5.255%
20-Year Fixed	5.750% - No points	5.855%
3/1 ARM**	4.500% - No points	5.153%
5/1 ARM**	5.000% - No points	4.290%
7/1 ARM**	5.250% - No points	4.564%
Two-Step Mortgage	5.625% - No points	5.703%
For current rates on Fixed and Adjustable Rate Jumbo Mortgage Loans over $417,000, please contact our mortgage lending partner: Financial Security Consultants (410) 823-3300 or (800) 730-7599 www.fscontheweb.com
Annual Percentage Rate. Mortgage Payment Example: A Loan for $150,000 at 6.000% for 30 years results in a monthly principal & interest payment of $899.33, with the total of interest paid over the life of the loan of $174,124.75. * The stated rates are variable and subject to increase after 3 years on the 3/1 ARM, 5 years on the 5/1 ARM and 7 years on the 7/1 ARM.

Home Equity Rate (Up to 90% Loan to Value)
*Home Equity Lines of Credit (HELOC) Variable Rate Based on Prime:**
Introductory Rate:	3.000% APR** for 6 months from the closing date. Requires a minimum advance of $10,000 at closing.

Initial Rate:	Prime minus .25% = 4.750% APR (LTV 80% or less) Prime plus .75% = 5.750% APR (LTV over 80%)

* MECU pays closing costs. Hazard Insurance required. ** The Annual Percentage Rate may vary. The maximum APR is 6.0% above the Initial Rate on the Line.

*Fixed Rate/Fixed Term Home Equity Loans:**
Member pays closing costs:
Base Rate	Term	LTV	APR
7.000%	15 year term	LTV 80% or less	7.004% APR*
8.000%	15 year term	LTV over 80%	8.004% APR*

6.000%	10 year term	LTV 80% or less	6.004% APR*
7.000%	10 year term	LTV over 80%	7.004% APR*

5.500%	5 year term	LTV 80% or less	5.506% APR*
6.500%	5 year term	LTV over 80%	6.504% APR*


MECU pays closing costs:
Base Rate	Term	LTV	APR
7.500%	15 year term	LTV 80% or less	7.500% APR*
8.500%	15 year term	LTV over 80%	8.500% APR*

6.500%	10 year term	LTV 80% or less	6.500% APR*
7.500%	10 year term	LTV over 80%	7.500% APR*

6.000%	5 year term	LTV 80% or less	6.000% APR*
7.000%	5 year term	LTV over 80%	7.000% APR*

* Annual Percentage Rate. The APR is based on a Loan of $50,000 with a Total Loan To Value Ratio of 80%.

Payment Example for Fixed Rate/Fixed Term Home Equity Loan: A Loan for $50,000 at 7.000% for 15 years results in a monthly payment of $449.68, with a total of interest paid over the life of the loan of $30,877.45. Hazard Insurance required.