* As of 10/19/17, our initial 5/1 ARM rate is 2.875%, Annual Percentage Rate (APR) of 3.698% for the first 5 years, after which the rate is subject to annual adjustment. These loans are based on a California purchase or refinance transaction of an owner-occupied, single-family residence with 60% loan–to-value, 1st lien position and approved credit. 0 points, standard fees apply, up to loan amounts of $424,100. The 5/1 loan adjustable rate feature has an initial rate for the first 5 years that is based on the Fannie Mae 5/1 ARM plan rate as of the date of loan approval, which can be found at https://firstent.org/mortgagewebcenter.com/. The rate is subject to adjustment upon the expiration of the first 5 years and every 12 months thereafter based on the then-current index which is the Average of the London Interbank Offer Rate (LIBOR) for one year U.S. dollar denominated deposits as published by the Wall Street Journal (Index) currently at 1.83%, initial change cap of 5%, annual cap 2%, life cap 5%, margin 2.25%. As an example, a 5/1 ARM loan with a loan amount of $400,000 would have: (1) an estimated monthly payment of $4.15 per $1,000 borrowed for the first 60 payments at the initial rate of 2.875% interest rate, 3.698% APR; and (2) thereafter, the rate and payment are subject to adjustment based on the then-current Index value plus the margin, and will adjust once every 12 months through the remaining term, but for purposes of this example we have assumed the Index does not change and, as a result, you will have an estimated monthly payment of $7.25 per $1,000 borrowed for the remaining 300 months based on the current fully-indexed rate of 7.875% interest rate, 7.895% APR. Payment example does not include amounts due for taxes and insurance and actual payment amount will be greater. Standard underwriting, tax service, and flood monitoring fees apply. Estimated closing costs of $1,986.00 (after applying $750 discount on lender fees mentioned above) apply for loan amount of $400,000. Standard qualifying credit and ratios are required. Property insurance is required. Other terms may apply for purchase transactions. Other rates and terms are available for loans up to $2,000,000. For 5/1 ARM applications received between 11/01/2017 and 12/31/17, First Entertainment Credit Union will waive Lender (processing and underwriting) Fees up to $750. 5/1 ARM offer cannot be used to refinance existing First Entertainment loans. Rates, terms, and guidelines are subject to change without notice.