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  Navy Federal Home Mortgage

Navy Federal Home Mortgage

in Home Purchase Mortgages from Navy Federal Credit Union · NMLS ID #399807

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Navy Federal Home Mortgage

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in Home Purchase Mortgages from Navy Federal Credit Union · NMLS ID #399807

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Highlights
Highlights
Loan Amount $10,000 - $2,000,000
Loan Term (Years) 10 - 30 years

Navy Federal Home Mortgage Review

Navy Federal Home Mortgage is offered by Navy Federal Credit Union (NMLS #399807), a credit union founded in 1933 and based in Vienna, VA. Navy Federal Home Mortgage is available in 31 states (and Washington, DC).

Navy Federal Home Mortgage FAQ

How much can you borrow via Navy Federal Home Mortgage?

Navy Federal Home Mortgage allows borrowers to apply for loan amounts of up to $2,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with Navy Federal Home Mortgage?

Navy Federal Home Mortgage offers mortgages with terms ranging from 10 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What range of rates does Navy Federal Home Mortgage offer?

Navy Federal Home Mortgage offers home loans with APRs starting at 2.338% .

What is the estimated funding time for a home loan via Navy Federal Home Mortgage?

Navy Federal Home Mortgage will typically fund mortgages within 3 and 10 days of approval.

Does Navy Federal Home Mortgage charge a mortgage origination fee?

Yes, Navy Federal Home Mortgage may charge a loan origination fee of $0 to $1

Does Navy Federal Home Mortgage charge prepayment fees?

No, Navy Federal Home Mortgage does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs does Navy Federal Home Mortgage offer?

Navy Federal Home Mortgage offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
  • VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.

What property usage types does Navy Federal Home Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Navy Federal Home Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects
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Availability

  Available in 31 states and Washington, D.C.
  • Alabama
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Kansas
  • Kentucky
  • Louisiana
  • Maryland
  • Mississippi
  • Missouri
  • Nebraska
  • Nevada
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oklahoma
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington

Feature Breakdown

No Prepayment Fee  
Origination Fee ($) $0 - $1
Credit Score Range 580 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Joint Loan Applications Accepted Co-borrower
Maximum LTV 100%
Minimum Age 18
Property Type
  • Manufactured/Mobile Home
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Proof of Residence
  • Social Security Number
  • Driver License (or other photo ID)
Investment  
Primary Residence  
APR Starting at 2.338%
Loan Amount $10,000 - $2,000,000
Loan Term 10 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • VA
  • Conventional Mortgages
  • Jumbo

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