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  PenFed Credit Union Mortgage

PenFed Credit Union Mortgage

in Home Purchase Mortgages from PenFed Credit Union

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PenFed Credit Union Mortgage

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in Home Purchase Mortgages from PenFed Credit Union

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Highlights
Highlights
APR 3.93% - 5.08%
Loan Amount Up to $484,350
Loan Term 1 - 30 years

PenFed Credit Union Mortgage Review

Where does PenFed Credit Union Mortgage do business?

PenFed Credit Union Mortgage is based in Alexandria, VA. The company was founded in 1935 and offers mortgages to borrowers in 50 states (and Washington, DC).

How much can you borrow via PenFed Credit Union Mortgage?

PenFed Credit Union Mortgage allows borrowers to apply for loan amounts of up to $484,350. 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 PenFed Credit Union Mortgage?

PenFed Credit Union Mortgage offers mortgages with terms ranging from 1 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 PenFed Credit Union Mortgage offer?

PenFed Credit Union Mortgage offers home loans with APRs starting at 3.93% and up to 5.08%.

Does PenFed Credit Union Mortgage charge a mortgage origination fee?

Yes, PenFed Credit Union Mortgage may charge a loan origination fee.

What mortgage programs does PenFed Credit Union Mortgage offer?

PenFed Credit Union 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.
  • Conforming: Mortgages that meet the loan requirements of Fannie Mae and Freddie Mac. These have fixed rate terms of 10 to 30 years and adjustable rate terms ranging from 3 to 10 years. Down payments as low as 5%.
  • 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.
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Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • 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

Feature Breakdown

Credit Score Range 620 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Property Type
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Government Issued Photo ID
Primary Residence  
Investment  
Loan Amount Up to $484.35K
Loan Term 1 - 30 years
APR 3.93% - 5.08%

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