No-Down-Payment Option for Servicemembers

A good choice for servicemembers, veterans and reservists who have already exhausted their VA Loan benefit.

Loan Features

  • Fixed rates and consistent payments
  • No Private Mortgage Insurance required
  • No down payment required1
  • Seller contribution of up to 6% allowed

Rates23

Term Interest Rates As Low As Discount Points APR As Low As
30 Year 4.375% 0.500 4.657%
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 $679,650 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.

Learn Moreabout mortgages with Navy Federal

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 $5,050.5

Learn More about RealtyPlus.

Mortgage Learning Center

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Homeowner Resources

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Disclosures

1 100% financing loans 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 7/18/2019 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.

3 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.

4 A Military 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 Military 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 $679,650. The Jumbo rates quoted above are for loan amounts above $484,350 up to $2,000,000.

5 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. All real estate transactions are negotiable. Standard listing fees apply. Contact RealtyPlus for terms and conditions.