No Down Payment Required
We want you to realize the dream of homeownership now—without years of waiting to save for a down payment. Our Homebuyers choice loans offer 100% financing on purchases, making them a great choice for first-time homebuyers.1
Fixed Rates & Consistent Payments
With a fixed interest rate, your monthly payment to principal and interest will remain the same for the life of your loan.
No Private Mortgage Insurance Required
Most lenders require the borrower to purchase PMI unless they can make a down payment of 20%. This loan doesn’t require PMI, which saves you money each month.
Seller Contribution of Up to 6%
The seller is allowed to contribute up to 6% of the value of the home toward your closing costs, saving you money.
If you're looking to refinance your home, but have low equity, this could be a good option for you. Refinance up to 97% of your home's value.
|Term||Interest Rates As Low As||Discount Points||APR As Low As|
|30 Year Jumbo||4.500%||0.500||4.784%|
Discount Points: The interest rate above shows the option of purchasing discount points to lower a loan’s interest rate and monthly payment. One point amounts to 1% of the loan amount and is paid at closing. Points don’t always have to be round numbers. Purchasing 1.5 points would cost $3,000 on a $200,000 mortgage.
Jumbo Loans: Loans over a certain amount are called jumbo loans. In most states, mortgage loans greater than $484,350 are jumbo loans. In AK and HI, any loan over $726,525 is considered a jumbo loan.
Why Choose Navy Federal?
Great loans. Expert guidance. Best-in-class loan service. As a Navy Federal member, you get access to additional benefits to help save you time and money. Get your loan, real estate agent, title services and loan servicing all through us.
Mortgage Learning Center
The Mortgage Process
It starts with a pre-approval and finishes with your perfect home. We've broken down the process to make it easier for you.Learn More about The Mortgage Process
A pre-approval lets sellers know you're a serious buyer and gives you more negotiating power when it comes time to make an offer.Learn More about Get Pre-Approved
Monthly Mortgage Payments
Use this calculator to estimate what your monthly mortgage payment could be.Learn More about Monthly Mortgage Payments
Making a Payment
Find out what makes up your monthly mortgage payments and learn about convenient payment options.Learn More about Making a Payment
Find out how we calculate your escrow payments and get answers to your most frequently asked questions.Learn More about Understanding Escrow
If you’ve experienced property damage, here’s everything you need to make your insurance claim process as easy as possible.Learn More about Insurance Claims
1 May include an additional funding fee, which may be financed up to the maximum loan amount. Product features are subject to approval. ↵
2 This rate offer is effective 12/15/2019 and subject to change. 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 interest rate. Many of these programs carry discount points, which may impact your rate. ↵
A Homebuyers Choice loan of $250,000 for 30 years at 4.375% interest and 4.657% APR will have a monthly payment of $1,248.
A Jumbo Homebuyers Choice loan of $485,000 for 30 years at 4.500% interest and 4.784% APR will have a monthly payment of $2,457.
Taxes and insurance not included; therefore, the actual payment obligation will be greater.
Jumbo Loans: Loan amounts greater than $484,350. In AK and HI, the Conforming loan limit is $726,525. The Jumbo rates quoted above are for loan amounts above $484,350 up to $2,000,000. ↵
4 The cash-back bonus is offered in most states and is available for individual sales and purchases of property; offer limited to one cash-back bonus per property with no limit on the amount of times you may use the program. In some states, a gift card or commission credit at closing may be provided in lieu of the cash-back bonus. The program is not available in IA or outside the U.S. Cash-back bonus is not available in AK, LA or OK. In KS and TN, a gift card with preloaded points that are ready for spending at specified retail establishments after closing will be issued. State regulations in KS limit the dollar amounts and the type of incentive. In MS, NJ, and OR, a commission reduction may be available at closing. Please check with the program coordinator for details. This is not a solicitation if you are already represented by a real estate broker. The cash-back bonus is only available with the purchase or sale of your home through the use of a program-referred and -approved real estate agent. The size of your cash back award depends on the value of the property you are buying or selling. Obtaining the full $8,000 cash back award requires transacting in a property valued at $1.75 million or greater. To calculate the size of you potential cash back, please visit navyfederal.org/realtyplus. All real estate transactions are negotiable. Contact RealtyPlus for terms and conditions. Standard listing fees apply. ↵