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Consumer Loan Rates
| Type |
Max Term |
Annual Percentage Rate
(APR)1 |
$Min |
$Max |
Fees |
Payment Per $1000 |
| Hope Prime Advantage2 |
Revolving |
Hope Prime Rate plus 2.50% (currently 8.50% APR) |
$250 |
$5,000 |
- |
- |
Home Equity Fixed1,3,9
Rate reflects .25% less for 120, 180, and 240 months on APR with bi-weekly and auto draft payments.
*Refer to note 9 below |
Up to 60 Months |
5.50% |
$10,000 |
- |
* |
$19.10 |
| Up to 120 Months |
5.89% |
$10,000 |
- |
* |
$11.17 |
| Up to 180 Months |
6.25% |
$10,000 |
- |
* |
$8.71 |
| Up to 240 months |
6.49% |
$10,000 |
- |
* |
$7.60 |
| Below Prime Line4,9,10 |
2.99% for until 12/31/08; then, 101 basis points below Wall Street Journal Prime for life of loan (currently 3.99% APR). 10 year draw period with interest only payments followed by 15 year payback. |
Auto 2007/081,5
**Refer to note 5 below |
48 Months |
6.49% |
- |
- |
** |
$23.71 |
| 60 Months |
6.74% |
- |
- |
** |
$19.68 |
| 72 Months |
6.99% |
- |
- |
** |
$17.04 |
Auto Used
2004-20061,6
***Refer to
note 6 below |
48 Months |
7.74% |
- |
- |
*** |
$24.29 |
| CD Loan7,8 |
Maturity of CD |
3%+CD Interest Rate |
- |
- |
- |
- |
| Savings Loan8 |
12 to 24 Month Maturity |
5.00% Interest Rate |
- |
- |
- |
- |
| 36 Month Maturity |
6.00% Interest Rate |
- |
- |
- |
- |
- Annual Percentage Rate reflects a .50% discount for 48, 60, 72, 84, 120, and 180 month loans with payment being automatically drafted from a First Hope checking or savings account.
- Personal accounts only. Subject to additional underwriting criteria. Rate is variable and may change at any time, including after account opening.
- Loans up to 80% of appraised value less any mortgage balance for all terms except 240 months, for which loans up to 75% of appraised value less any mortgage balance. Property insurance required. Payment must be auto-drafted from First Hope Bank account. Payment also must be on a bi-weekly schedule. Rate without bi-weekly schedule increases APR by 0.25%.
- Loans up to 70% of appraised value less any mortgage balance. Property insurance required. Rate can change at any time, including after account opening, but may rise no higher than 16% APR and fall no lower than 3%. Wall Street Journal Prime currently 5.00% APR.
- 90% of retail value or purchase price of a new model year vehicle. $40 fee applies to cars with NJ license plates and $20 for PA cars.
- 100% of NADA guide average loan value. $40 fee applies to cars with NJ license plates and $20 for PA cars.
- Loan to be re-written at current market rate at maturity.
- Same day closing available! 100% financing of balance in account available!
- Equity loans above $100,000 may be subject to a full appraisal and title run down which customer may be responsible for paying. A $90 recording fee does apply. If applicable, a $20 cancellation fee for existing loans being rewritten and a $50 processing fee for loan being paid off does apply.
- A 1% early termination fee for all Lines of Credit paid off prior to the thirty month anniversary.
All Automobile titles will be encumbered to the Bank and collision insurance of $500.00 deductible is required.
Rates current as of 06/02/2008.
| Marketable Securities |
| Marketable Securities held as security for a loan must not exceed 50% of market value. Pledged securities must exceed $20.00 per share in value. |
| Various terms available. |
| 1Loans are available to residents of the states of NJ, NY, MD, DE, CT, and PA. |
| If you would like more information about any of First Hope Bank's Loan Products, please contact Andy Antanaitis at (908) 459-6025. |
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