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Mortgage Rates & Loan Options1

From fixed and adjustable rates to options that don't require a down payment2, we have a mortgage to fit your needs. View our rates and crunch your numbers to see what works best with your budget. 

Not sure which mortgage is right for you? Find your Mortgage Match with our interactive video.

Buy a Home Now, Get a Lower Rate Later Without Refinancing

Have you been putting off buying a home, hoping that mortgage rates will drop? With our easy, no-refi rate drop, you can buy a home now and if our rates drop after 6 months, you could lower your rate for a one-time $250 fee.9

Learn More

Use Our Mortgage Calculators to Crunch the Numbers

From estimating closing costs to figuring out how much home you can afford, our calculators can help you make decisions about your mortgage.

See All Calculators

Visit Our Home Buying Center

Our Home Buying Center has everything you need to de-stress your next address. Get the best loan option for you, a Verified Preapproval, connections with experienced real estate agents and plenty of opportunities to save money.

Learn Moreabout our Home Buying Cente

Which Mortgage is Best for You?

Answer a few simple questions in our interactive video to see what type of home loan works best for you. If you still have questions, give our Mortgage Specialists a call at 1-888-842-6328.

Ready to Apply or Have a Question?

Stateside member reps are here for you 24/7. Reach us online, over the phone or at a branch. Contact us.

If you're ready to apply for a mortgage or want to check the status of your loan, please call us at 1-877-573-2324.

Apply Now for Your Mortgage

Additional Mortgage Options

  • Refinancing

    Refinance your current mortgage with Navy Federal, and you could qualify for lower payments and better rates.

  • Second-Home Financing

    You can own a vacation home of your very own with a second-home mortgage from Navy Federal.

  • Investment Property Loans

    Looking to start or add to your real estate portfolio? We have great loan options for qualifying residential properties.10

Mortgage Learning Center

View MoreMortgage Learning Center

If you’re having trouble keeping up with your mortgage payments, we may be able to help. For more information, please see our "Alternatives to Foreclosure" page.

Mortgage FAQs

With a fixed-rate mortgage, your interest rate stays the same for the life of your loan. With an adjustable rate, your loan begins with a fixed rate for a specified period of time and then adjusts higher or lower based on an index.

An interest rate is the cost you pay annually to borrow money, expressed as a percentage of your total loan. In contrast, APR includes the interest rate plus other costs, such as mortgage insurance, discount points and some closing costs and loan origination fees.1

Yes, you must be a Navy Federal member before you apply for a mortgage. Learn about becoming a member.

After you submit your loan application, you may be instantly preapproved if we have all the documentation we need. If that's the case, you'll be able to access your preapproval letter in the Documents section of HomeSquad, our loan management portal. Keep in mind that we often need additional information after you submit your application. In that case, a home loan advisor will contact you in 1 to 2 business days to discuss next steps.

It typically takes 30 days to close on your mortgage once you’ve submitted all required paperwork and documents. However, closing times vary based on many factors, so check with your home loan advisor early in the process to better understand when you can expect to close.

If you're planning to refinance your home, closing times are estimated to take 30–45 days.

Disclosures

1

These rate offers are effective 11/28/2023 and subject to change. Rates displayed are the "as low as" rates for purchase loans and refinances. Rates are based on creditworthiness, loan-to-value (LTV), occupancy, and loan purpose, so your rate and terms may differ. All loans subject to credit approval. Rates quoted require a loan origination fee of 1.00%, which may be waived for a 0.25% increase in the interest rate. Many of these programs carry discount points, which may impact your rate.

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2

Product features subject to approval. Available for purchase loans only. Loans are subject to an additional funding fee, which may be financed up to the maximum loan amount. 

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3

A VA loan of $300,000 for 15 years at 6.000% interest and 6.790% APR will have a monthly payment of $2,531.
A VA loan of $300,000 for 30 years at 6.125% interest and 6.571% APR will have a monthly payment of $1,822.
Taxes and insurance not included; therefore, the actual payment obligation will be greater. If you have less than your VA home loan entitlement, limitations to your loan amount may apply. 

This rate offer is subject to change. Rates based on creditworthiness so your rates may differ.  All loans subject to credit approval. Rates quoted require a loan origination fee of 1.00% which may be waived for a 0.25% increase in the interest rate. Many of these programs carry discount points which may impact your rate. Product features subject to approval. 100% financing loans may include an additional funding fee, which may be financed up to the maximum loan amount.  Available for purchase loans only. For primary residences and second homes only.

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4

All Choice loans require a 1.00% loan origination fee. The origination fee may be waived for a 0.25% increase in the interest rate. All Choice loans are subject to a funding fee of 1.75% of the loan amount. This funding fee can be financed into the loan up to a maximum of 101.75% LTV, or the fee can be waived for a 0.375% increase in the interest rate. Purchase loans require no down payment. LTV restrictions apply to refinance loans. Note: To be eligible for Military Choice, at least one borrower must be Active Duty, Reservist, or a veteran.

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5

A Military Choice loan of $300,000 for 30 years at 7.875% interest and 8.224% APR will have a monthly payment of $2,175. Taxes and insurance not included; therefore, the actual payment obligation will be greater. All loans subject to credit approval.

All Choice loans require a 1.00% origination fee. The origination fee may be waived for a 0.25% increase in the interest rate. All Choice loans are subject to a funding fee of 1.75% of the loan amount. This funding fee can be financed into the loan up to a maximum of 101.75% LTV, or the fee can be waived for a 0.375% increase in the interest rate. Purchase loans require no down payment. LTV restrictions apply to refinance loans. Note: to be eligible for Military Choice, at least one borrower must be Active Duty or a veteran.

This rate offer is subject to change.  Rates based on creditworthiness so your rates may differ.  All loans subject to credit approval. For primary residences and second homes only.

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6

A fixed-rate loan of $300,000 for 15 years at 6.125% interest and 6.323% APR will have a monthly payment of $2,551.
A fixed-rate loan of $300,000 for 30 years at 6.625% interest and 6.747% APR will have a monthly payment of $1,920.
Taxes and insurance not included; therefore, the actual payment obligation will be greater. All loans subject to credit approval.

This rate offer is subject to change. Rates based on creditworthiness so your rates may differ. All loans subject to credit approval. Rates quoted require a loan origination fee of 1.00% which may be waived for a 0.25% increase in the interest rate.  Many of these programs carry discount points which may impact your rate. For primary residences and second homes only.

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7

A Homebuyers Choice loan of $300,000 for 30 years at 8.000% interest and 8.351% APR will have a monthly payment of $2,201. Taxes and insurance not included; therefore, the actual payment obligation will be greater. All loans subject to credit approval.

All Choice loans require a 1.00% origination fee. The origination fee may be waived for a 0.25% increase in the interest rate. All Choice loans are subject to a funding fee of 1.75% of the loan amount. This funding fee can be financed into the loan up to a maximum of 101.75% LTV, or the fee can be waived for a 0.375% increase in the interest rate. Purchase loans require no down payment. LTV restrictions apply to refinance loans.

This rate offer is subject to change. Rates based on creditworthiness so your rates may differ. All loans subject to credit approval. For primary residences and second homes only.

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8

Adjustable Rate Mortgages are variable, and your Annual Percentage Rate (APR) may increase after the original fixed-rate period. The First Adjusted Payments displayed are based on the current Constant Maturity Treasury (CMT) index, plus the margin (fully indexed rate) as of the stated effective date rounded to nearest 1/8th of one percent. All loans subject to credit approval.

This rate offer is subject to change. Rates based on creditworthiness so your rates may differ.  All loans subject to credit approval. Rates quoted require a loan origination fee of 1.00% which may be waived for a 0.25% increase in the interest rate. Many of these programs carry discount points which may impact your rate.

Product features subject to approval. 100% financing loans may include an additional funding fee, which may be financed up to the maximum loan amount.  Available for purchase loans only. For primary residences and second homes only.

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9

(a) To be eligible to exercise the no-refi rate drop (Rate Reduction) option and receive a reduction to the interest rate on your loan, you must meet all of the following criteria:

(1) Your loan is one of the following fixed-rate mortgage loan products: Homebuyers Choice, Military Choice, or 15- and 30-year Jumbo Fixed loans (collectively, “Covered Loan Products”) with Navy Federal Credit Union. Cash-out refinance transactions, however, are not eligible for the no-refi rate drop option.

(2) (A) You must contact us and request to exercise the no-refi rate drop option; (B) the reduced interest rate for your loan must be at least 0.25% lower than your existing rate when you request to exercise the no-refi rate drop option; (C) your loan must be current with no more than one monthly payment, which includes principal, interest, taxes, and insurance, that has been 30 days late or more within the last 6 months of your request; (D) you have made at least 6 consecutive monthly payments, which includes principal, interest, taxes, and insurance, on your loan since closing or the last time you exercised your no-refi rate drop option; (E) you do not have an active bankruptcy case pending or you have not filed for bankruptcy protection within 6 months prior to your request; (F) your loan is not in an active loss mitigation option, process, or consideration; and (G) you continue to own the property, notwithstanding successor-in-interest exceptions.

(b) You must pay a $250.00 fee each time that the no-refi rate drop option is exercised. There is no limit on the number of times the no-refi rate drop option can be exercised if all applicable criteria are met each time.

(c) Exercising the no-refi rate drop option will permanently reduce your interest rate, as well as the remaining principal and interest payments on your loan but will not modify any other terms contained in your loan documents, including the principal balance, maturity date, and additional amounts due for escrows as part of your monthly Periodic Payment under your Security Instrument.

(d) RATES AND TERMS ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE. To exercise the no-refi rate drop option, you must contact Navy Federal. You are solely responsible for monitoring Navy Federal’s available rates and determining when to exercise the no-refi rate drop option, subject to the eligibility criteria identified above. Contact Navy Federal at 1-703-255-8665, Option 1, to check your eligibility and current rates. Navy Federal will only reduce the interest rate of a Covered Loan Product under the no-refi rate drop option if all applicable criteria are satisfied at time of your request to exercise the option. These terms and conditions do not constitute a commitment to lend, nor a guarantee that you will be approved for a mortgage loan from Navy Federal Credit Union.

(e) Choice loan products require a 1.00% origination fee, which may be waived for a 0.25% increase in the interest rate; are subject to a funding fee of 1.75% of the loan amount; and the funding fee can be financed into the loan up to a maximum of 101.75% LTV, or the fee can be waived for a 0.375% increase in the interest rate. Purchase loans require no down payment. LTV restrictions apply to refinance loans. To be eligible for a Military Choice loan, at least one borrower must be Active Duty, reservist, or a Veteran.

(f) Payment examples:

A Military Choice loan of $300,000 for 30 years at 7.875% interest and 8.224% APR will have a monthly payment of $2,175. A Jumbo Military Choice loan of $800,000 for 30 years at 8.250% interest and 8.607% APR will have a monthly payment of $6,010. Taxes and insurance not included; therefore, the actual payment obligation will be greater. All loans subject to credit approval. Jumbo Military Choice loans are loan amounts above $726,200 up to $1,000,000. 

A Homebuyers Choice loan of $300,000 for 30 years at 8.000% interest and 8.351% APR will have a monthly payment of $2,201. A Jumbo Homebuyers Choice loan of $800,000 for 30 years at 8.375% interest and 8.735% APR will have a monthly payment of $6,080. Taxes and insurance not included; therefore, the actual payment obligation will be greater. All loans subject to credit approval. Jumbo Homebuyers Choice loans are loan amounts above $726,200 up to $1,000,000. 

A Jumbo Fixed loan of $800,000 for 30 years at 6.625% interest and 6.747% APR will have a monthly payment of $5,122. Taxes and insurance not included; therefore, the actual payment obligation will be greater. All loans subject to credit approval. Loans over a certain amount are called jumbo loans. In most states, mortgage loans greater than $726,200 are jumbo loans. In AK and HI, any loan over $1,089,300 is considered a jumbo loan.

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10

For non-owner occupied homes only, in which the property generates income from rent. Investment property mortgages require a 1.00% loan origination fee. The origination fee may be waived for a 0.25% increase in the interest rate.

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