Current Processing Times
Our typical processing times, from when a member submits a contract to closing, is 30 days. Due to current volume, please expect processing time between 45 and 60 days.
Navy Federal Mortgage Industry Awards
- Top VA Lender. Expertise in helping servicemembers and veterans take advantage of every benefit they’ve earned.
- Fortune 100. Consistently named one of Fortune 100 Best Companies to Work For.
- KPMG. Ranked No. 1 in the 2018 US KPMG Customer Experience Excellence report.
Guarantee to receive rate match only applicable if all conditions are met. Available for purchase and refinance first mortgages. Certain product exclusions may apply. You must lock your rate with Navy Federal prior to submitting rate match request to qualify. Loan Estimate from competing lender must be dated and received within 3 calendar days of locking your interest rate at Navy Federal. Please note that no other documentation may be used to show competitors' terms. The terms of the competing loan must be identical to Navy Federal's loan; for example, a 30-year, fixed-rate product with mortgage insurance is not identical to a Navy Federal 30-year, fixed-rate product that does not have mortgage insurance. If the loan does not close within the commitment period, the rate match may be voided. NOTE: The initial Loan Estimate from a wholesale lender/broker is not an acceptable document for a rate match submission unless the Lender Information section on the Loan Estimate is completed. To receive $1,000, you must provide a signed, executed copy of the final Closing Disclosure and a copy of the final mortgage note within 30 calendar days of your loan closing with the original competing lender. Not valid if original loan terms or conditions change prior to closing. Once approved, $1,000 will be automatically deposited into your Navy Federal account within 30 calendar days of receiving the necessary documentation. Recipient is solely responsible for any personal tax liability arising out of this incentive.↵
Freedom Lock is available for new applications on purchase and refinance loans at no additional fee, with a maximum interest rate reduction of up to 0.50%. You will have the opportunity to relock twice if rates improve, and your loan must close within sixty (60) days of initial lock.↵
A VA loan of $250,000 for 15 years at 1.750% interest and 2.211% APR will have a monthly payment of $1,580.15.
A fixed-rate loan of $250,000 for 15 years at 1.625% interest and 1.906% APR will have a monthly payment of $1,565.97.
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 effective 09/23/2021 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.