Conventional Loan, unconventional benefits
More than a home loan. A lot more.
3% down payment available1
Close up to a week sooner with Fast Pass2
Rates as low as % (APR
%)3
Get more from your home loan
Call now to get started: 800-970-7766. Or, complete this form and we’ll call you!
Home sweet home is just a call or a click away!
A conventional loan is a great choice that offers greater flexibility, competitive rates and low fees.
Call 800-970-7766 to speak to a PenFed Home Loan specialist or click the link below to take the next step.
Your benefits
PenFed’s Conventional Loans feature flexible fixed-rate and adjustable-rate options. Plus, you receive money-saving benefits before, while, and long after you buy or refinance.
Before you buy and during your purchase
- Get an edge over the other buyers with a full up-front loan approval4
- Lock in your rate for up to 60 days5 while you shop
After you buy or refinance
- Save with a wide range of complimentary and discounted homeowner services
- Rest assured, we’ll service your PenFed home loan for life
Disclosure
1Member must meet HomeReady or first-time homebuyer (FTHB) programs eligibility requirements. Talk to a PenFed Mortgage Loan Officer for additional details.
2Borrower must provide eConsent, agree to participate in the Fast Pass program, and provide required documentation within 5 business days of application. Participation does not guarantee approval. Talk to a PenFed Mortgage Loan Officer for additional details.
3Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on discount point, which equals
percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $400,000; loan-to-value ratio of 75%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1995. Speak to a PenFed Mortgage Loan Officer for additional details.
The applicant is responsible for the following fees and costs at the time of closing: appraisal fee, tax service fee, title fees, transfer tax fees, credit report fee, flood cert fee, recording fee, survey if required and work verification fee, escrow reserves and interest due until first payment. Other costs may be included due to program specific circumstances. This is not intended to be an all-inclusive list.
Points are the responsibility of the borrower and not covered in promotions.
4Power Buyer Certification is contingent on a full underwriting review and approval of loan documentation and other creditworthiness conditions. Offering is subject to change at any time, some loan programs may be excluded. Talk to a PenFed Mortgage Loan Officer for additional details.
5Power Buyer Lock While You Shop is applicable to first mortgage pre-approval home purchases that have received approve/eligible finding. Not applicable on HELOC or refinance transactions. To ensure timely closing within the rate lock period, the borrower must provide an executed sales contract and full property address to PenFed within the initial 30 days of the lock period. Extending a rate lock is subject to applicable rate extension fees to be paid at closing. Some loan programs may be excluded. Offering is subject to change at any time, some loan programs may be excluded. Talk to a PenFed Mortgage Loan Officer for additional details.
To receive any advertised product, you must become a member of PenFed.
