East West Bank Mortgage Interest Rate and Cost Review

Is East West Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by East West Bank with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratehigher than average (+0.38%)
Loan Related Closing Costshigher than average (+$827)
National Rate and Closing Cost Rating(1.5)

On average, East West Bank’s interest rates were higher than those of other lenders (+0.38%) for a comparable set of borrowers. Its average total loan related closing cost was higher than those of other lenders, with a difference of +$827. Overall, combining interest rates and closing costs we estimate that East West Bank tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 1.5 out of 5.0 stars.

East West Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track East West Bank was most active in:

  1. New York, NY
  2. Los Angeles, CA
  3. Las Vegas, NV
  4. Atlanta, GA
  5. Houston, TX

You can click through to check out East West Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

East West Bank’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, East West Bank originated Conforming and Jumbo mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingJumbo
Interest Rate Difference+0.33%+0.17%
Loan Related Closing Cost Difference+$698+$595
Cost Adjusted Rate Difference+0.33%+0.18%
Star Rating(2.0)(2.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference+0.52%+0.16%
Loan Related Closing Cost Difference+$1174+$597
Cost Adjusted Rate Difference+0.55%+0.17%
Star Rating(1.0)(2.5)

As a summary, East West Bank is more expensive than other lenders for Conforming and Jumbo purchase mortgages. For refinancing, East West Bank is more expensive than other lenders for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about East West Bank:

Registered name: East West Bank
Registered city and state: PASADENA, CA, 91101
Regulator: Consumer Financial Protection Bureau (CFPB)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for East West Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.