As a first-time homebuyer, choosing Navy Federal Credit Union's HomeBuyers Choice program means you don't have to worry about limitations of a down payment.
We offer both conforming and jumbo HomeBuyers Choice mortgages. The maximum loan limit for conforming loans is typically $424,100, though the loan limit can vary by state and county. Jumbo loans are for amounts greater than $424,100.
Fixed rate (payments stay the same through term)
No down payment options1
No Private Mortgage Insurance (PMI) or Upfront Mortgage Insurance Premium (UMIP) required
Interest Rate Rates based on creditworthiness, so your rate may differ
Estimated Monthly Payment $Taxes & insurance not included, therefore the actual payment obligation will be greater.
Included with All Navy Federal Mortgages
Personal guidance from first call to closing
Navy Federal servicing for the life of your loan
1Product features subject to approval. 100% financing loans include an additional funding fee, which may be financed up to the maximum loan amount. Available for purchase loans only.
2Rates are based on evaluation of credit history, loan-to-value, and loan term, so your rate may differ. Rates subject to change at any time. For primary residences only. 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.
Mortgage Application Assistance
To find the best mortgage loan for you, or to get started on your application, just sign in to Account Access, then select the "Mortgage" under the "Open a New Account" tab. For mortgage application questions, please call 1-888-842-6328 to speak with a specialist.
To help fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account, including joint owners.
What This Means For You
When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you.