PENFED MORTGAGE Loans

Great Mortgage Rates For Your Next Home

Mortgage Loans types Include VA, Fixed, Adjustable Rate, and More!

AT A GLANCE

Our Most Popular Loan Options

Your rate, payment, and costs, could be higher. Get an official Loan Estimate before choosing a loan. The following rates are based on a credit score above . Click on the Learn More button for more details.

5/5 ARM

Adjustable Rate Mortgage

Term Rate APR PRINICIPAL & INTEREST*
First 60 $
Next 300 $
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After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

*Payments shown do not include taxes or insurance, actual payments may be greater. Rates and offers are in effect as of , offered for a limited time and subject to change without notice. Example based on $ loan. Other restrictions apply. Rate is variable and can increase by no more than percentage points after the initial five year period and at each subsequent annual rate adjustment, with a lifetime maximum adjustment of % (% for this example). Since the value of the index in the future is unknown, the First Adjustment Payments displayed are based on the current index plus margin (fully indexed rate) as of the date above.

30-YEAR

Fixed Rate

Rate APR Principal & Interest
$
Apply Now

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

*Payments shown do not include taxes or insurance, actual payments may be greater. Rates and offers are in effect as of , offered for a limited time and subject to change without notice. Example based on $ loan. Other restrictions apply. 

Estimate Your Cost

Mortgage Calculators

$
$
Down payments less than 20% of property value may require Private Mortgage Insurance (PMI).
*Calculations represent initial ARM payments based on 30 year amortization. Interest and payments will adjust periodically based on agreement.
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$1538.00
Start Application

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

Click Here For Closing Cost Calculator

The application of additional loan level pricing adjustments will be determined by various loan attributes such as Loan-To-Value (LTV) ratio, credit score, transaction type, property type, product type, occupancy, and subordinate financing. The calculator above is for educational purposes only. Your actual rate, payment, and costs could be higher.

$
Loan to Values (LTV) of 80% and above may require Private Mortgage Insurance (PMI).
*Calculations represent initial ARM payments based on 30 year amortization. Interest and payments will adjust periodically based on agreement.
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$1538.00
Refinance NOW

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

Estimate Your Closing Costs

The application of additional loan level pricing adjustments will be determined by various loan attributes such as Loan-To-Value (LTV) ratio, credit score, transaction type, property type, product type, occupancy, and subordinate financing. The calculator above is for educational purposes only. Your actual rate, payment, and costs could be higher.

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$
$
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RATIO SLIDER
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Apply Today

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

When you're buying a home, mortgage lenders don't look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating. Use our home affordability calculator to determine how much of a mortgage you may be able to obtain. The calculator above is for educational purposes only. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.

THE DIFFERENCE BETWEEN ARM AND FIXED RATE MORTGAGES

When choosing between an adjustable rate mortgage (ARM) or fixed rate, it’s important to understand how they work and what your needs are.  Meet Matt and The Dawsons and see what choice they made.

adjustable rate mortgage

ADJUSTABLE-RATE MORTGAGE

With an adjustable-rate mortgage, the interest rate may change in relation to an index and payments may go up or down accordingly.

Matt relocates frequently for work.

frequently relocates
Graph showing arm interest rates over time
lower initial interest rates

Matt enjoys the lower initial interest rate.                                 

fixed rate mortgage

FIXED-RATE MORTGAGE

With a fixed-rate mortgage, the interest rate and the monthly payment of principal and interest stay the same during the life of the loan.

The Dawsons love the area where they live and found their dream home.

dream home
with Fixed Rate mortgages, monthly payments never change
longer term stable payments

The Dawsons prefer the predictability of long-term, stable payments.

How long am I going to stay in my home?  

If you don’t plan to stay in your home for a long time you may want to consider an ARM, which typically has a lower initial interest rate than a fixed rate and you may save money in interest charges. The money you save could be put toward retirement, paying off debt, building an emergency fund, and more.

What can I afford?

  Knowing how much you can afford to pay month to month in mortgage payments will also help you decide between an ARM or fixed-rate mortgage. 

 

 

Looking for an investment property?

An investment property can be used to provide and supplement income. Whether you are considering buying a property to lease out, renovate and lease or simply hold for a few years, a balloon mortgage might be just the right option for you.

10-YEAR
BALLOON

Investment Property Mortgage

Rate APR Principal & Interest**
$

**This payment example assumes a loan with points, a loan amount of $ and an estimated property value of $143,000. Payments shown do not include taxes or insurance escrows; actual payments may be greater. Note: this is a 10-year fixed rate mortgage amortized over 30 years with the balance due and payable in full at the time of maturity. Loan matures in 10 years; you may apply to refinance the balloon payment ($ in this example) at maturity.

Apply Now

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

LEARN MORE

Outstanding service ethic.

Washington, DC

The American do-it-yourself mentality has driven our nation’s dynamic success at every level. The power of personal investment and pride get things accomplished on time and on target.

Ready To Take The Next Step?

My parents started with PenFed, and so did I.

San Francisco CA

I joined PenFed because both my parents were members - so glad I did. PenFed helped me get a great rate on my first new car.

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Consistent low rates and easy to work with.

Newark NJ

I went to Penfed to see if I qualified for a mortgage. My friends told me about all the trouble they've had using other lenders, but penfed made everything easy for me. Thank you Sarah and PenFed!

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Wherever I travel, I can work with PenFed.

Atlanta GA

I just started using Penfeds new Travel AMEX card on my last trip to Basal - my other cards charge me just for being away but not this card with Penfed.

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