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CHEVY CHASE BANK CHEVY CHASE BANK
Home Equity Division
Wholesale Lending Guide
CHEVY CHASE BANK
HOME EQUITY LENDING DIVISION
CURRENT INTEREST RATES
November 2003
EQUITY LINES OF CREDIT
RATES SUBJECT TO CHANGE WITHOUT NOTICE
Prime Rate = 4.00%
PROGRAM 100% CREDIT LINE
100% CLTV A Paper
Maximum Loan
Amount
Bank Pays
Closing
Costs
Current
Rate
Margin
Against
Prime Rate
Customer
Pays
Closing
Costs
Margin
Against
Prime Rate
Frequency/Terms of
Adjustment
$100,000
Monthly
Prime rate + Margin
20 Yr Draw Period
Minimum Loan
Amount
6.50%
2.50%
6.00%
2.00%
Term
$7,500
20 Years
Interest Only
Notes for 100% CLTV Credit Line
1. Life Cap: 24.00%
CREDIT GUIDELINES
CCB Credit Score: Minimum 660
3 Year Credit History 1x90
24 Month Mortgage Payment: 0x30
12 Month Credit History: 2x30, 1x60 paid up-to-date
Judgments, Liens, Collections: $250
Max debt/income: 45%
Bankruptcy: Discharged 5 or more years
PROGRAM 90% CREDIT LINE
90% CLTV A Paper
Tiered Pricing
Per Line
Amount*
Bank Pays
Closing
Costs
Current
Rate
Margin
Against
Prime Rate
Customer
Pays
Closing
Costs
Margin
Against
Prime Rate
Frequency/Terms of
Adjustment
<$49,999
5.00%
1.00%
4.75%
0.75%
Monthly
Prime rate + Margin
20 Yr Draw Period
$50K - $99,999
3.75%
-0.25%
3.50%
-0.50%
Term
>=$100,000
3.50%
-0.50%
3.25%
-0.75%
20 Years
Interest Only
Maximum
Loan Amount
$200,000
Minimum
Loan Amount
$10,000
Notes for 90% CLTV Credit Line
1. Life Cap: 24.00%
CREDIT GUIDELINES
CCB Credit Score: Minimum 660
3 Year Credit History 1x90
12 Month Mortgage Payment: 0x30
12 Month Credit History: 2x30, 1x60 paid up-to-date
Judgments, Liens, Collections: $250
Max debt/income: 45%
Bankruptcy: Discharged 5 or more years
PROGRAM 80% CREDIT LINE
80% CLTV A Paper
Tiered Pricing
Per Line
Amount*
Bank Pays
Closing
Costs
Current
Rate
Margin
Against
Prime Rate
Customer
Pays
Closing
Costs
Margin
Against
Prime Rate
Frequency/Terms of
Adjustment
<$49,999
5.00%
1.00%
4.75%
0.75%
Monthly
Prime rate + Margin
20 Yr Draw Period
$50K - $99,999
3.75%
-0.25%
3.50%
-0.50%
Term
>=$100,000
3.50%
-0.50%
3.25%
-0.75%
20 Years
Interest Only
Maximum
Loan Amount
$800,000
Minimum
Loan Amount
$10,000
Notes for 80% CLTV Credit Line
1. Life Cap: 24.00%
CREDIT GUIDELINES
CCB Credit Score: Minimum 625
3 Year Credit History 1x90
12 Month Mortgage Payment: 1x30 now current
12 Month Credit History: 2x30, 1x60 paid up-to-date
Judgments, Liens, Collections: $250
Max debt/income: 45%
Bankruptcy: Discharged 5 or more years
NOTES PERTAINING TO ALL EQUITY CREDIT LINES
1. LOAN PAYOFF/CLOSING COST RECAPTURE
Under No Closing Costs option, customer is responsible for closing costs if line is closed within first 3 years.
2. OCCUPANCY/PROPERTY TYPE:
Above pricing is for primary owner occupied. For Rental and Bridge Loans, see your Marketing Representative.
3. PROPERTY VALUES ABOVE $400,000
Properties with a value above $400,000 require a tiered LTV
*PRICING IS TIERED BASED ON CUSTOMERS CURRENT OUTSTANDING BALANCE WITH ACCRUAL CHANGING DAILY CHEVY CHASE BANK
Home Equity Division
Wholesale Lending Guide
CHEVY CHASE BANK
HOME EQUITY LENDING DIVISION
CURRENT INTEREST RATES
November 2003
FIXED RATE PROGRAM
RATES SUBJECT TO CHANGE WITHOUT NOTICE
PROGRAM 100% FIXED
100% CLTV A Paper
Bank Pays
Closing Costs
Current Rate
Customer
Pays Closing
Costs
Current Rate
Lock Period
Maximum
Loan
Amount
Minimum
Loan
Amount
9.50%
8.50%
30 days from
application
date
$100,000
$7,500
Notes for 100% CLTV Fixed Rate
Fixed Rate Terms 20 Years MAX Fully Amortized
CREDIT GUIDELINES
CCB Credit Score: Minimum 660
3 Year Credit History 1x90
24 Month Mortgage Payment: 0x30
12 Month Credit History: 2x30, 1x60 paid up-to-date
Judgments, Liens, Collections: $250
Max debt/income: 45%
Bankruptcy Discharged: 5 or more years
PROGRAM 90% FIXED
90% CLTV A Paper
Tiered Pricing
Per Loan
Amount
Bank Pays
Closing Costs
Current Rate
Customer
Pays Closing
Costs
Current Rate
Lock Period
Maximum
Loan
Amount
Minimum
Loan
Amount
<$49,999
7.75.%
7.00%
$50K - $99,999
7.75%
7.00%
>=$100,000
7.50%
6.75%
30 days from
application
date
$200,000
$10,000
Notes for 90% CLTV Fixed Rate
Fixed Rate Terms 20 Years MAX Fully Amortized
CREDIT GUIDELINES
CCB Credit Score: Minimum 660
3 Year Credit History 1x90
24 Month Mortgage Payment: 0x30
12 Month Credit History: 2x30, 1x60 paid up-to-date
Judgments, Liens, Collections: $250
Max debt/income: 45%
Bankruptcy Discharged: 5 or more years
PROGRAM 80% FIXED
80% CLTV A Paper
Tiered Pricing
Per Loan
Amount
Bank Pays
Closing Costs
Current Rate
Customer
Pays Closing
Costs
Current Rate
Lock Period
Maximum
Loan
Amount
Minimum
Loan
Amount
<$49,999
7.75%
7.00%
$50K - $99,999
7.75%
7.00%
>=$100,000
7.50%
6.75%
30 days from
application
date
$800,000
$10,000
Notes for 80% CLTV Fixed Rate
Fixed Rate Terms 20 Years MAX Fully Amortized
CREDIT GUIDELINES
CCB Credit Score: Minimum 625
3 Year Credit History 1x90
24 Month Mortgage Payment: 0x30
12 Month Credit History: 2x30, 1x60 paid up-to-date
Judgments, Liens, Collections: $250
Max debt/income: 45%
Bankruptcy Discharged: 5 or more years
NOTES PERTAINING TO ALL FIXED RATE PROGRAMS
1. OCCUPANCY/PROPERTY TYPE:
Above pricing is for primary owner occupied. For Rental and Bridge Loans, see your Marketing Representative.
2. PROPERTY VALUES ABOVE $400,000
Properties with a value above $400,000 require a tiered LTV
Chevy Chase Bank is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the United States. We encourage and support
an affirmative advertising and lending program in which there are no barriers to obtaining home financing because of race, color, religion, sex, physical impairment,
familial status, age or national origin.
This information is not an advertisement to extend consumer credit. It is solely for the use of real estate brokers and agents and other arrangers of credit and it is not to be
distributed to potential loan applicants. We will provide quotations in the legally required manner to each applicant. Rates and programs subject to change and/or
cancellation without prior notice.