Arundel Federal Savings Bank

Mortgage Loan Rates
Rates Effective July 23, 2008

"ALL RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE!

Rates valid on owner occupied, single family dwellings located in the state of Maryland. Rates valid up to loan amounts of $1,000,000. Private Mortgage Insurance (PMI) required for all loans in excess of 80% LTV. APR is based on a loan amount of $100,000 for conforming, $500,000 for Jumbo and an LTV of 80% or less and does not include cost of PMI. One point equals 1% of the amount borrowed."

Fixed Rate | Adjustable Rate | Construction Permanent Loans

Fixed Rate

Conforming Loan amounts up to $560,000
	Interest Rate	Points	Annual Percentage Rate	Monthly Payment per $1,000 Borrowed
40 Years	6.625%	0.00%	6.631%	$5.77
(purchase only)
35 Years	6.500%	0.00%	6.506%	$6.04
(purchase only)
30 Years	6.375%	0.00%	6.382%	$6.24

25 Years	6.250%	0.00%	6.258%	$6.60

20 Years	6.125%	0.00%	6.134%	$7.24

15 Years	6.000%	0.00%	6.011%	$8.44

10 Years	5.875%	0.00%	5.891%	$11.04

Jumbo Loan amounts over $560,000
	Interest Rate	Points	Annual Percentage Rate	Monthly Payment per $1,000 Borrowed
40 Years	7.625%	0.00%	7.632%	$6.67
(purchase only)
35 Years	7.375%	0.00%	7.382%	$6.65
(purchase only)
30 Years	7.250%	0.00%	7.251%	$6.82

25 Years	7.250%	0.00%	7.252%	$7.23

20 Years	7.125%	0.00%	7.127%	$7.83

15 Years	6.875%	0.00%	6.877%	$8.92

10 Years	6.750%	0.00%	6.753%	$11.48


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Adjustable Rate

Adjustable Rate Mortgages (ARM's) are subject to changes in the interest rate based on changes in the index. The index applicable to all ARM loans is the weekly average yield on US Treasury Securities adjusted to a constant maturity of one year. A 30 year amortization applies to all ARM loans listed below. 40 year rates and terms are available Caps are maximum amounts by which the interest rate may change over any one period. Additional terms and conditions apply. Please call 410-355-9300 for a complete ARM disclosure and details."

Conforming Loan amounts up to $560,000
	Interest Rate	Points	Annual Percentage Rate	Monthly Payment per $1,000 Borrowed
1 YEAR ARM	5.375%	0%	4.464%	$5.60
CAPS	Initial 1.0% Annual 1.00% Lifetime 5.00%
3-1 ARM	5.500%	0%	4.646%	$5.68
CAPS	Initial 2.00% Annual 1.00% Lifetime 5.00%
5-1 ARM	5.625%	0%	4.847%	$5.76
CAPS	Initial 2.50% Annual 1.00% Lifetime 5.00%
7-1 ARM	5.750%	0%	5.061%	$5.84
CAPS	Initial 3.00% Annual 1.00% Lifetime 5.00%

Jumbo Loan amounts over $560,000
	Interest Rate	Points	Annual Percentage Rate	Monthly Payment per $1,000 Borrowed
1 YEAR ARM	6.125%	0%	4.521%	$6.08
CAPS	Initial 1.0% Annual 1.00% Lifetime 5.00%
3-1 ARM	6.250%	0%	4.823%	$6.16
CAPS	Initial 2.00% Annual 1.00% Lifetime 5.00%
5-1 ARM	6.375%	0%	5.133%	$6.24
CAPS	Initial 2.50% Annual 1.00% Lifetime 5.00%
7-1 ARM	6.500%	0%	5.444%	$6.32
CAPS	Initial 3.00% Annual 1.00% Lifetime 5.00%


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Construction Permanent Loans

6 to 12 month construction period
One settlement-same rate during construction and permanent loan. Funds are deposited into an escrow account and disbursed as work is completed. Interest is paid on the outstanding balance each month until completion. Loan automatically converts to a permanent loan upon completion or expiration of the construction period.

Conforming Loan amounts up to $560,000
	Interest Rate	Points	Annual Percentage Rate	Monthly Payment per $1,000 Borrowed
30 Years	6.625%	1.00%	6.774%	$6.40
25 Years	6.500%	1.00%	6.666%	$6.75
20 Years	6.125%	1.00%	6.569%	$7.38
15 Years	6.000%	1.00%	6.492%	$8.57

Jumbo
Loan amounts over $560,000

	Interest Rate	Points	Annual Percentage Rate	Monthly Payment per $1,000 Borrowed
30 Years	7.375%	1.00%	7.488%	$6.91
25 Years	7.250%	1.00%	7.375%	$7.23
20 Years	7.250%	1.00%	7.395%	$7.90
15 Years	7.125%	1.00%	7.305%	$6.06

Main Office: 333 East Patapsco Avenue Baltimore, Maryland 21225-1899
Telephone:(410) 355-9300 Fax:(410) 355-0335