A refinance that works for you

¹Except 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.

Some products quoted may require a loan origination fee.

VA Mortgages: For loan amounts from $50,000 to $766,550. If loan amount is higher than $766,550 to $3,000,000, higher rates may apply. Veterans will have greater access when using their no-down payment home loan benefit. Veterans seeking to obtain what are commonly referred to as "jumbo" loans, or Veterans living in higher-cost markets, will no longer be subject to the Federally-established conforming loan limit maximums. After January 1, 2020, Veterans may obtain no-down payment VA-backed loans in all areas of the country, regardless of home prices. The amount of the loan will be determined on available entitlement and the location of the property. See www.benefits.va.gov.

Conforming Mortgages:  For loan amounts from $50,000 to $806,500. Loan amounts up to $1,209,750 are available in Alaska, Guam and Hawaii. For purchase and limited cash out refinance, the maximum loan-to-value (LTV) and combined loan- to-value (CLTV) for a one unit property is 95% except for First Time Homebuyer and Home Ready programs which permit 97% financing. Loan amounts up to $806,500 are available in Puerto Rico and the maximum LTV and CLTV is 95%. Loans with a LTV of 80% or greater are subject to private mortgage insurance (PMI). PMI is applicable to conventional and not VA. The LTV and CLTV limits may vary depending on the property type, loan limit, loan program and occupancy.

Jumbo Mortgages: Available for loan amounts above $766,550 up to $3,000,000 in most states. For Alaska and Hawaii, available for loan amounts above $1,149,825 up to $3,000,000. Jumbo loan eligibility criteria varies depending on Loan-to-value ratio, credit score, loan amount and occupancy. Additional limitations may apply.

To receive any advertised product, you must become a member of PenFed.