NOVEMBER
•
2022
HOMEOWNERSHIP IS STILL WITHIN REACH High prices and interest rates make today’s real estate market challenging for homebuyers. You may want to consider an adjustable-rate mortgage (ARM) loan, which offers much lower initial interest rates, translating to lower monthly payments and more buying power. PAYMENT PER $100,000
LOAN
RATE
APR
5 /1 ARM
4.875%
6.110%
$529.21
5/5 ARM
5.000%
6.157%
$536.82
(Taxes and Insurance Not Included)
BENEFITS OF ADJUSTABLE-RATE MORTGAGES (ARMS)
5/1 ARM: Low, fixed rate for 5 years, then adjusts annually1 5/5 ARM: Low, fixed rate for 5 years, then adjusts every five years2
Visit lapfcu.org/ARM or scan the QR code. Call (877) 695-2732 for assistance. 1 ARM = Adjustable-Rate Mortgage. APR = Annual Percentage Rate. 4.875% initial interest rate, followed by an estimated 6.875% adjustable interest rate, 6.110% APR based on zero points and 20% down for conforming loans up to $647,200, effective as of October 21, 2022. All advertised rates and terms are subject to change at any time without notice. Interest rates and payments may increase after consummation. Payments are fixed for five years. After the initial fixed-rate period, your interest rate can increase or decrease yearly according to the market index. Any change may significantly impact your monthly payment. Since the index in the future is unknown, the estimated adjustable rates are based on the current one-year CMT index plus a margin of 2.500% subject to adjustments every five years with a lifetime maximum adjustment of 5.000%. May not be combined with any other offer, program, or promotion. Cannot be used to refinance an existing LAPFCU mortgage. Payment example: A $500,000 loan with a 20% down payment and an initial interest rate of 4.875% would have 60 monthly payments of $2,646.04 followed by 300 monthly payments of $3,202.88 at a 6.875% estimated adjustable interest rate (subject to a yearly adjustment), 6.110% APR. Payments do not include taxes and insurance. Restrictions apply, ask for complete details. All loans are subject to credit approval and applicable LAPFCU policies. 2ARM = Adjustable-Rate Mortgage. APR = Annual Percentage Rate. 5.000% initial interest rate, followed by an estimated 6.875% adjustable interest rate, 6.157% APR based on zero points and 20% down for conforming loans up to $647,200, effective as of October 21, 2022. All advertised rates and terms are subject to change at any time without notice. Interest rates and payments may increase after consummation. Payments are fixed for five years. After the initial fixed-rate period, your interest rate can increase or decrease every five years according to the market index. Any change may significantly impact your monthly payment. Since the index in the future is unknown, the estimated adjustable rates are based on the current five-year CMT index plus a margin of 2.750% subject to adjustments every five years with a lifetime maximum adjustment of 5.000%. May not be combined with any other offer, program, or promotion. Cannot be used to refinance an existing LAPFCU mortgage. Payment example: A $500,000 loan with a 20% down payment and an initial interest rate of 5.000% would have 60 monthly payments of $2,684.11 followed by 300 monthly payments of $3,208.61 at a 6.875% estimated adjustable interest rate (subject to five-year adjustment), 6.157% APR. Payments do not include taxes and insurance. Restrictions apply, ask for complete details. All loans are subject to credit approval and applicable LAPFCU policies.
SMART HOLIDAY SHOPPING TIPS We’ll help you handle the biggest shopping season of the year like a pro. Whether you’re shopping in stores or online from the comfort of home, follow these tips to help streamline your holiday shopping experience and increase your financial security.
Use the LAPFCU App
Set up Mobile Payments
Stay on top of your seasonal spending while on the go, right from your smartphone. Securely view account activity, make check deposits and transfers, pay bills, and locate the nearest ATM or branch. Instantly lock your LAPFCU credit and debit cards if they’re lost, stolen, or inactive, and set transaction alerts for low balance and large withdrawals using Card Controls.
Be sure to add your LAPFCU credit or debit card to your wallet app (Apple Pay, Google Pay, Samsung Pay) and make it your default card for easier, more secure, and contactless payment in stores and online.
(877) 695-2732 • lapfcu.org