3/5 and 5/5 ARM Loans: Mortgage insurance is not required. Additional discount points will apply to cash-out loans, which are based on credit history and loan-to-value. and any origination fees for comparison with Navy Federal's rates. Navy Federal may be a good choice for all of your banking and borrowing needs in addition to your VA loan. This is not a solicitation if you are already represented by a real estate broker. Rates for refinance loans where the existing lender is not Navy Federal are subject to a 0.750% higher rate. Existing Navy Federal loans are not eligible for this offer. 3.79%. Our field of membership is open to the armed forces, the DoD, veterans and their families. As a Navy Federal member, you get access to additional benefits to help save you time and money. Obtaining the full $8,000 cash-back award requires transacting in a property valued at $1.75 million or greater. You must first become a member of the Navy Federal Credit Union to apply online: Visit Navy Federal Credit Union’s website, hover over Loans … Loans for home improvements: Navy Federal’s home improvement loans have extended term lengths of up to 15 years, with annual percentage rates between 15.29% and 18%. Navy Federal does not publish a minimum credit score for VA loans. The Freedom Lock Option - The Freedom Lock Option is available on refinance and purchase loans for a non-refundable 0.250% fee added to the origination. All VA loans are subject to a funding fee of up to 3.6% of the loan amount. Rates displayed are the as low as rates for purchase loans and refinances of existing Navy Federal loans. Jumbo Loans: Loan amounts greater than $548,250. Remain confidently in control of your finances with insights, advice and resources. The origination fee may be waived for a 0.25% increase in the interest rate. Any refinance mortgage where the proceeds will be used to pay any debt other than debt used in the purchase of the home is considered a cash-out refinance. Rates quoted above require a 1.00% loan origination fee. Navy Federal Credit Union VA Loan Rates Below are the current interest rates and annual percentage rates (APRs) for current Navy Federal Credit Union VA loans. Rates are subject to change—information provided does not constitute a loan commitment. 3. *Rates quoted above require a 1.00% loan origination fee. ", 24/7 Member Services: 1-888-842-6328 Routing Number: 256074974, © 2020 Navy Federal Credit Union. The fee must be collected up-front. VA: Backed by the U.S. Department of Veterans Affairs, the VA loan offers a fixed rate, terms of 10 to 30 years, financing up to 100% and no PMI. A certificate of eligibility is required and can be obtained from the VA by your home loan advisor. May include an additional funding fee, which may be financed up to the maximum loan amount. Need help deciding which loan option works best for you? They're an excellent option if you qualify and are looking to buy a home. Navy Federal is a military-focused credit union and another excellent choice for VA loans. A VA loan of $250,000 for 30 years at 2.125% interest and 2.392% APR will … Most lenders require the borrower to purchase PMI unless they are able to make a down payment of 20%. Adjustable rate mortgages are variable, and your APR may increase after the original fixed-rate period. All loans subject to credit approval. In AK, HI, Guam and the Virgin Islands the Conforming loan limit for two-family properties is $1,053,000. The Long Term/Extended Price Lock option must be selected at time of lock and is not eligible for the Special Freedom Lock Promotion for purchase and refinance loans unless otherwise stated below. One point amounts to 1% of the loan amount and is paid at closing. Navy Federal Mortgage Review for 2021. These fees are waived by agreeing to pay 0.25% more on the interest rate. 3.79%. Please contact Navy Federal at 1-888-842-NFCU (6328) or visit www.navyfederal.org. Purchase loans require no down payment. Payment example: New auto loan of $20,000 for 36 months at 1.79% APR will have a monthly payment of $572. Check out our Mortgage Match video. The cash-back bonus is only available with the purchase or sale of your home through the use of a program-referred and -approved real estate agent. Navy Federal Credit Union is a top-5 VA mortgage lender. The Jumbo rates quoted above are for loan amounts above $548,250 up to $2,000,000. Qualifying members of the credit union can choose from options such as conventional loans, Veterans Affairs loans, Federal Housing Administration loans and mortgage refinance loans. You will have the opportunity to relock one time if rates improve, with no maximum interest rate reduction. Rates quoted require a loan origination fee of 1.00%, which may be waived for a 0.25% increase in interest rate. Pros Freedom Lock Choice loans have an origination fee of 1%, plus a 1.75% funding fee. Navy Federal Credit Union Navy Federal Credit Union ranks No. Company: Minimum Credit Score: Average Customer Satisfaction Score 1: Average 30-Year VA Loan Rate, 2019 2: Navy Federal Credit Union: 580: 4.7/5: 3.56%: Stearns Lending The Standard Price Lock - Commitment is 60 days from the lock date at no additional cost. ... we’ll send you a Loan Estimate that provides important information about your loan, including the estimated interest rate, your monthly payment estimate and expected closing costs. With an auto loan preapproval, you could negotiate a better sales price with the dealer. Call us at 1-888-842-6328. Late Model Used Vehicles: 2020, 2021 and 2022 model years with 7,500-30,000 … The size of your cash-back award depends on the value of the property you are buying or selling. 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