How much can you borrow via PenFed Credit Union Mortgage?

PenFed Credit Union Mortgage allows borrowers to apply for loan amounts of up to $5,000,000. 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 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 2.625% .

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.