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Mortgage Rates

Fixed Loans

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2019-11-20T01:00:41-05:00
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VA and FHA Loans

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Adjustable Rate Mortgage Loans

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100% Financing Loans

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Information Applicable to All Mortgage Loans

Additional Information

Rates, discount points and terms are based on an evaluation of each member's credit history, loan-to-value (LTV), occupancy, payment type, loan amount and loan purpose, so your rate and terms may differ. All loans are subject to credit approval. Questions? Please contact Navy Federal at 1-888-842-NFCU (6328) or visit www.navyfederal.org.

Navy Federal also offers home loans for investment properties. When reviewing quotes from other lenders, make certain you obtain the discount points and any origination fees for comparison with Navy Federal's rates. APRs reflect down payment/equity, unless otherwise noted.

Conforming Loans: Loan amounts up to $484,350. In AK and HI, the Conforming loan limit is $726,525. Jumbo Loans: Loan amounts greater than $484,350. The Jumbo rates quoted above are for loan amounts above $484,350 up to $2,000,000. The maximum loan amount for Jumbo HomeBuyers Choice or Military Choice loans is $1,000,000.

Two-Unit Properties The minimum down payment for a two-family property is 15% (excludes 3/5 and 5/5 ARM products, see above). Conforming loan limit for two-family properties is $620,200. In Alaska and Hawaii, the Conforming loan limit for two-family properties is $930,300.

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. Additional discount points will apply to cash-out loans, which are based on credit history and loan-to-value. Cash-Out Refinance is not allowed on Interest-Only Conforming and Choice products.

Loans with subordinate financing and loans secured by condominium properties may require additional discount points. Conforming loans secured by two-unit properties are subject to an additional 1.00% discount point. Manufactured homes are subject to an additional 0.50% discount point.

Fixed Mortgage Loans Payment Example: A sample principal and interest payment on a $250,000 fixed-rate loan at 4.982% APR for 30 years is $1,308.64. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

Rate Lock Policy:

PURCHASE LOANS

The Long-Term/Extended Price Lock - Commitments for Purchase Loans - Available for Conventional, FHA and VA Loans. Fee is non-refundable, and if charged to the discount points, it must be collected up-front for Conventional loans. The Long-Term/Extended Price Lock option must be selected at time of lock and is not eligible for the special Freedom Lock option for Purchase Loans as described below.

PURCHASE AND REFINANCE LOANS

1. The Standard Price Lock - Commitment is 60 days from the lock date at no additional cost.

2. The Float to Lock Option - If you select the Float to Lock Commitment, it means that you want to allow the interest rate and/or discount points to float with the market. You must lock in your interest rate and/or discount points at least fourteen (14) calendar days prior to settlement/closing.

3. The Freedom Lock Option - Freedom Lock is available for new applications on purchase loans at no additional fee, with a maximum interest rate reduction of up to 0.25%. You will have the opportunity to relock one time if rates improve, and your loan must close within sixty (60) days of initial lock.


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