Loan Features to Fit Your Needs

When you choose Navy Federal for your mortgage, we’ll make sure you get your best possible rate.

  • Freedom Lock

    Enjoy the freedom to re-lock in at a lower rate. If rates go up, your rate stays the same. If rates go down, you'll have a chance to re-lock within 60 days at the lower rate at no cost to you.1

  • Loans With No Down Payment

    We can help you realize the dream of homeownership with mortgage options with no money down.2

  • No PMI Required

    Make your monthly payments easier to afford with loan options that don’t require Private Mortgage Insurance (PMI).

Mortgage Rates & Loan Options3

No matter what your circumstances are, we have the right home loan for you.

  • VA Loans

    Available exclusively to eligible servicemembers, veterans and their spouses, VA Loans are backed by the Department of Veterans Affairs.

    Interest rate as low as

    3.250%

    APR as low as

    3.845%

    Down payment

    0%

    Term

    10- to 30-year

  • Military Choice

    Ideal choice for servicemembers, reservists and veterans who have already exhausted their VA loan benefit.5

    Interest rate as low as

    4.750%

    APR as low as

    5.038%

    Down payment

    0%

    Term

    16- to 30-year

  • Conventional Fixed Rate

    A great choice for buyers who want a stable monthly mortgage payment.

    Interest rate as low as

    3.375%

    APR as low as

    3.595%

    Down payment

    5%

    Term

    10- to 30-year

  • Homebuyers Choice

    Available to qualified buyers with no down payment required.5

    Interest rate as low as

    4.875%

    APR as low as

    5.166%

    Down payment

    0%

    Term

    16- to 30-year

  • FHA Loans

    Insured by the Federal Housing Administration and ideal for buyers looking for easier qualification and a low down payment option.9

    Interest rate as low as

    3.250%

    APR as low as

    4.581%

    Down payment

    3.5%

    Term

    10- to 30-year

  • Adjustable Rate Mortgages

    These loans begin with a low fixed interest rate for the initial term and then adjust according to an index.

    Interest rate as low as

    3.000%

    APR as low as

    4.011%

    Down payment

    0-10%

    Term

    10- to 30-year

    5/5 Conforming ARM Payment Example11

    Loan Amount: $250,000 Term: 30 years

    Year Interest Rate APR Monthly Payment

    JavaScript is required to compute this table.

    Taxes and insurance not included; therefore, the actual payment obligation will be greater.
  • Interest Only

    Suitable for buyers who want the flexibility to make interest-only payments.

    Down payment

    20%

Home-Buying Expertise With RealtyPlus®

Get matched with a top-performing real estate agent in your area. It’s easy, fast and free. Plus, get a cash-back bonus of up to $5,050.12

Learn More about RealtyPlus.

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.13

Mortgage Learning Center

View More Mortgage Learning Center

Disclosures

1 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 re-lock one time if rates improve. You must contact your loan officer to re-lock a minimum of fourteen (14) calendar days prior to settlement/closing, and your loan must close within sixty (60) days of initial lock.

2 100% financing loans include an additional funding fee, which may be financed up to the maximum loan amount. Product features are subject to approval.

3 This rate offer is effective 1/31/2019 and subject to change. Rates based on creditworthiness, so your rate 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.

4 A VA loan of $250,000 for 15 years at 3.250% interest and 3.845% APR will have a monthly payment of $1,757. A VA loan of $250,000 for 30 years at 3.375% interest and 3.683% APR will have a monthly payment of $1,105. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

5 All Choice loan rates quoted above 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 or a veteran.

6 A Military Choice loan of $250,000 for 30 years at 4.750% interest and 5.038% APR will have a monthly payment of $1,304. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

7 A fixed-rate loan of $250,000 for 15 years at 3.375% interest and 3.595% APR will have a monthly payment of $1,772. A fixed-rate loan of $250,000 for 30 years at 3.875% interest and 4.021% APR will have a monthly payment of $1,176. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

8 A Homebuyers Choice loan of $250,000 for 30 years at 4.875% interest and 5.166% APR will have a monthly payment of $1,323. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

9 Federal Housing Administration (FHA) loans require a minimum of 3.5% down payment. FHA loans are subject to an up-front mortgage insurance premium of 1.75% of the loan amount, in addition to a monthly mortgage insurance premium, depending on the loan term and loan-to-value (LTV).

10 An FHA loan of $250,000 for 15 years at 3.250% interest and 4.581% APR will have a monthly payment of $1,757. An FHA loan of $250,000 for 30 years at 3.375% interest and 4.500% APR will have a monthly payment of $1,105. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

11 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.

12 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 pre-loaded 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. All real estate transactions are negotiable. Standard listing fees apply. Contact RealtyPlus for terms and conditions.

13 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.