EastWest Bank reduces mortgage financing interest to 5.88%

EastWest Bank has recently introduced its lowest home loan interest rate of 5.88% fixed for the first year. Owning a real estate property by availing of a mortgage financing facility at only 5.88% interest rate provides borrowers a great deal of savings which they can use for other expenditures or purchases.

The Bank now offers a range of housing loan products that are especially designed for the specific needs of the borrower.

The Home ACQUIRE allows an availee to purchase a house and lot or a townhouse, while Condo ACQUIRE provides financing for acquisition of a condominium unit. For those who wish to purchase a residential lot, the Bank offers Lot ACQUIRE which is payable within a 10 year period.

Lot owners who opt to build their own house in their property may apply for Home CONSTRUCT with a maximum payment term of 30 years.

Other home loan product variants include Home IMPROVE for expansion, renovation and improvement of home including improvements or expansions of lawn, garden or gazebo; Home PLUS for existing EastWest Bank Mortgage Loan borrowers, who wish to avail themselves of an additional loan to fund repainting, renovation or extension of their homes; and lastly, Home EQUITY, which allows a borrower to use his real estate property as a loan collateral and source of funds to acquire a new property or a car without paying a down payment; expand an existing business or venture into a new one; or explore investment opportunities like mutual funds where a borrower can earn more using the loan proceeds.

Fixed interest rates for 2,3,4, or 5 years are also available for borrowers who would like to avert from rate fluctuations. For inquiries on the Bank’s home loan products, interested individuals may call 888-1700 or visit the nearest EastWest branch.