Last Updated: 10/10/2025
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Highlights
Credit Score Range
620 - 850
Amount Range
$25,000 - $500,000
Maximum LTV
90%
Loan Term (Years)
5 - 20
PenFed CU Home Equity Loans Review
PenFed CU Home Equity Loans is offered by PenFed Credit Union (NMLS #401822), a credit union founded in 1935 and based in Tysons, VA. PenFed CU Home Equity Loans are available in 50 states and Washington, DC.
Key Takeaways
- Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
- Fast process. In some cases you can close on your home loan within 3 business days.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
- High maximum LTV ratio. PenFed CU Home Equity Loans has a maximum loan to value ratio of 90%.
- Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for PenFed CU Home Equity Loans.
PenFed CU Home Equity Loans Pros & Cons
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PenFed CU Home Equity Loans FAQ
How much can you borrow with a PenFed CU Home Equity Loans home equity loan?
A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.
PenFed CU Home Equity Loans allows borrowers to apply for home equity loans of up to $500,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
What are the home equity loan requirements of PenFed CU Home Equity Loans
This lender's maximum loan to value rate is 90%. That means the total debt secured by the property cannot exceed 90% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $70k.
What are the terms for a home equity loan via PenFed CU Home Equity Loans?
PenFed CU Home Equity Loans offers home equity loans with terms 10 years .
Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.
What is the estimated funding time for a home loan via PenFed CU Home Equity Loans?
PenFed CU Home Equity Loans will typically fund home equity loans within 3 to 11 days of approval.
What fees does PenFed CU Home Equity Loans charge for a home equity loan?
PenFed CU Home Equity Loans may charge a loan origination fee
What types of property can you use as security for a home equity loan with PenFed CU Home Equity Loans?
Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. PenFed CU Home Equity Loans will consider loans secured by the following property types:
- Primary home.
- Secondary homes and vacation properties.
- Investment properties and house flipping projects.
Is PenFed Credit Union a legit company?
PenFed Credit Union was founded in 1935, it is a well-established company that has been in business for 91 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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Hours of Operation
SundayClosedMonday8:00AM - 4:00PMTuesday8:00AM - 4:00PMWednesday8:00AM - 4:00PMThursday8:00AM - 4:00PMFriday8:00AM - 4:00PMSaturdayClosed
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Availability
Available in 50 states and Washington, D.C.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
SuperMoney Net Recommendation Score
Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.
+50
-1000+100
No one recommends
Everyone recommends
PenFed CU Home Equity Loans Community Reviews
Would you recommend PenFed CU Home Equity Loans to your friends?
Neha S.
Jul 3, 2023
Would Recommend
The loans offers competitive interest rates, helping me save money in the long run. With PenFed's excellent customer service, I receive guidance throughout the application. Furthermore, the ability to tap into my home's equity gives me the freedom to fund major expenses or consolidate high-interest debt.
MM
Michael M.
Feb 4, 2022
Would not Recommend
A quick snapshot of my home equity loan experience with PENFED:
Good morning Mr. Martinez,
I am re-creating your application. All I need to do is pull a new credit report. Do you give me permission to do so?
Chris Cortez
Digital Mortgage Loan Officer
NMLS# 1773891
O: 726-333-8175
9500 Bulverde Rd San Antonio, Texas 78247
ruben.cortez@penfed.org
NMLS# 1773891
My response:
Nope! I think after nearly 4 and a half months of unresponsive or slow to respond ...Show More
JO
Jomiloju O.
Jan 10, 2022
Would Recommend
I didn’t know that a home equity loan is this beneficial not until I tried the PenFed Credit Union Home Equity Loans. I was able to borrow more than $200,000 without any delay. The loan repayment term is friendly and even though the APR is somehow daunting, I didn’t regret taking it anyways.
GI
Garbriele I.
Nov 25, 2020
Would Recommend
The penfed credit union offers a diverse array of mortgage loans for homeowners like me, with just $500 worth of credit, you can get a loan of up to $200k, with zero lender fees to worry about, which makes PENFED perfect for those on a budget, even with volatile mortgage rates these days, PENFED offers a stable mortgage service that is exemplary.
Showing 4 of 4 reviews
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