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Navy Federal Credit Union

Make Owning a Vacation Home
of Your Own More Viable!

Thinking of setting down some roots in your favorite getaway spot? Let Navy Federal Credit Union help you finance a weekend or vacation home through a fixed-rate, adjustable-rate or interest-only mortgage.

We offer both conforming and jumbo rate mortgages for second homes. Conforming loans go up to $417,000, except in Alaska and Hawaii, where they go up to $625,500. Jumbo loans are between $417,001 and $2,000,000.

Available options include:

  • 30- and 15-year conforming and jumbo loans
  • no Private Mortgage Insurance (PMI)
  • down payments as low as 5%
  • bi-weekly payments available on some mortgages

To be considered a second home, the property must be:

  • restricted to one-unit dwellings,
  • located a reasonable distance away from the borrower's principal residence,
  • suitable for year-round occupancy, and
  • occupied by the borrower for a portion of the year.

Second homes may be rented out for portions of the year (seasonal rentals); however, rental income cannot be used to qualify. Rental properties and timeshares don't qualify, as the borrower must have exclusive control over the property. The home can't be subject to any agreements that give a management firm control over occupancy.

Rates* Rates as of:

Fixed Rates

Fixed-rate loan payments don't change for the entire term of the loan. Use the calculator to figure out how much you might pay and to view disclosure and payment example information.

Loan Type Interest Rates From* Discount Points APR as Low as
Calculator Apply
Term
15 years
Interest Rate
Rates based on creditworthi­ness, so your rate may differ
Loan Amount
Estimated Monthly Payment
$ Taxes & insurance not included, therefore the actual payment obligation will be greater.
Calculator Apply
Term
15 years
Interest Rate
Rates based on creditworthi­ness, so your rate may differ
Loan Amount
Estimated Monthly Payment
$ Taxes & insurance not included, therefore the actual payment obligation will be greater.
Calculator Apply
Term
30 years
Interest Rate
Rates based on creditworthi­ness, so your rate may differ
Loan Amount
Estimated Monthly Payment
$ Taxes & insurance not included, therefore the actual payment obligation will be greater.
Calculator Apply
Term
30 years
Interest Rate
Rates based on creditworthi­ness, so your rate may differ
Loan Amount
Estimated Monthly Payment
$ Taxes & insurance not included, therefore the actual payment obligation will be greater.

Low Down Payment Options

Low down payment options are also available. Please call a Navy Federal Credit Union loan officer for a quote. Find a Navy Federal mortgage loan officer.

Adjustable Rates

Adjustable rates start with a low, fixed rate, then adjust upward or downward after the initial fixed term according to an index. Use the payment example to figure out how much you might pay and to view disclosure and payment example information. Rates shown in payment examples below are principal and interest only. Taxes and insurance are not included, therefore actual payment obligation will be greater.

Loan Type Interest Rates From* Discount Points APR as Low As First Cap Subsequent Caps Lifetime Cap
2.00% 2.00% 6.00% Payment Example Apply
3/1 ARM
Payment Example
Loan Amount: $250,000
Term: 30 years
YearInterest Rate*APRMonthly Payment (P&I)
Taxes & insurance not included; actual payment obligation will
be greater.
1 % $
4 % $
2.00% 2.00% 5.00% Payment Example Apply
3/5 ARM
Payment Example
Loan Amount: $250,000
Term: 30 years
YearInterest Rate*APRMonthly Payment (P&I)
Taxes & insurance not included; actual payment obligation will
be greater.
1 % $
4 % $
2.00% 2.00% 5.00% Payment Example Apply
5/1 ARM
Payment Example
Loan Amount: $250,000
Term: 30 years
YearInterest Rate*APRMonthly Payment (P&I)
Taxes & insurance not included; actual payment obligation will
be greater.
1 % $
6 % $
2.00% 2.00% 5.00% Payment Example Apply
5/5 ARM
Payment Example
Loan Amount: $250,000
Term: 30 years
YearInterest Rate*APRMonthly Payment (P&I)
Taxes & insurance not included; actual payment obligation will
be greater.
1 % $
6 % $
2.00% 2.00% 6.00% Payment Example Apply
3/1 Jumbo ARM
Payment Example
Loan Amount: $500,000
Term: 30 years
YearInterest Rate*APRMonthly Payment (P&I)
Taxes & insurance not included; actual payment obligation will
be greater.
1 % $
4 % $
2.00% 2.00% 5.00% Payment Example Apply
3/5 Jumbo ARM
Payment Example
Loan Amount: $500,000
Term: 30 years
YearInterest Rate*APRMonthly Payment (P&I)
Taxes & insurance not included; actual payment obligation will
be greater.
1 % $
4 % $
2.00% 2.00% 5.00% Payment Example Apply
5/1 Jumbo ARM
Payment Example
Loan Amount: $500,000
Term: 30 years
YearInterest Rate*APRMonthly Payment (P&I)
Taxes & insurance not included; actual payment obligation will
be greater.
1 % $
6 % $
2.00% 2.00% 5.00% Payment Example Apply
5/5 Jumbo ARM
Payment Example
Loan Amount: $500,000
Term: 30 years
YearInterest Rate*APRMonthly Payment (P&I)
Taxes & insurance not included; actual payment obligation will
be greater.
1 % $
6 % $