Great Rates for Everyone

Welcome. What are you looking for today?

Buy a home or refi your loan
Use our realtors® and save money
Get cash with a Heloc

Buy a Home

Review our great rates,
calculate your monthly
payment, and apply.

Refinance your Loan

See our great rates, calculate your refi opportunities, and apply.

Request a Call

Talk to a loan officer on your schedule, not ours.

Work with one of our Realtors® and save up to $20,0001 on your mortgage.

Save 0.5% of your loan amount up to $20,0001 when you use a network real estate agent and preferred title provider to buy your next home using any Fixed, VA, or ARM PenFed first mortgage product!

Get Cash with a Heloc

Use the equity you’ve built in your home to access funds for major expenses with a 10-year line of credit followed by a 20-year repayment period.

GREAT RATES AWAIT

We offer a wide range of loans to meet your needs — and great rates to match your budget.

Conventional
Fixed Rate Loans

INTEREST RATES
AS LOW AS
APR AS
LOW AS
Term
15 Year
30 Year

VA Loans
 

INTEREST RATES
AS LOW AS
APR AS
LOW AS
Term
15 Year
30 Year

Real Estate
Rewards

Save 0.5% of your loan amount up to $20,0001 when you use a network real estate agent.

Heloc

Use the equity you've built in your home to access funds for major expenses.

Our Members love us. You will, too.

  • Consistent low rates and easy to work with.
    “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!”
  • Outperforming the competition.
    “For peace of mind we called two other companies to make certain we were making the best decisions for our family and in just a few conversations it was clear PenFed was the only choice...”
  • Achieving the American Dream.
    “The [PenFed] Dream Makers’ Grant saved us from having to spend even more money on closing costs and allowed us to put more money into making the house our home”
  • Navigating the loan process.
    “Being a veteran, I was eligible for a VA loan and Rob [at PenFed] was able to work with us to get this started and potentially save me and my family a lot of money…. He took any amount of time I needed to explain the programs and find the best fit for me and my family.”

WHY CHOOSE PENFED?

Our mission is to empower the financial well-being of our members.

Owned
by Our Members
Established in 1935, PenFed today is one of the country's strongest and most stable financial institutions serving 1.7 million members worldwide with $25 billion in assets.
Nationwide
& Puerto Rico
We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, and Okinawa.
24/7
Access
We are federally insured by NCUA and we are an Equal Housing Lender. We are available online to members worldwide, seven days a week, twenty-four hours a day.
50th most innovative company of 2019
PenFed Credit Union has been ranked one of the Most Convenient Credit Unions of 2018 by MagnifyMoney.com
PenFed Credit Union has been named one of the top three Best Credit Unions of 2019 by MyBankTracker.com
Pentagon Federal Credit Union to create nearly 600 new jobs in San Antonio

We can help you find the right loan

Disclosures

* All rates and offers are in effect as of December 02, 2019, offered for a limited time and subject to change without notice. To obtain any advertised rate, you may have to pay a one-time origination fee. Restrictions apply to existing PenFed mortgage borrowers. Other restrictions may apply. Contact your PenFed Mortgage Representative for any applicable additional restrictions and details about your loan.

To receive any advertised product you must become a member of PenFed by opening a share (savings) account. Federally insured by the NCUA.

We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

** Rates 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.

1 Applicant is responsible for VA funding fee.

VA Mortgages: The maximum loan amount for a VA loan is the VA County Loan Limits. Can exceed VA County Limits to finance the funding fee on purchases only. Amount of loan will also be determined on available entitlement.

Funds must be used to purchase or refinance a property that will be the primary residence. Refinances of existing VA-guaranteed for purposes of lower interest rate also allowed (is not required to be primary residence).

For purchase applications, please submit a copy of your fully signed ratified purchase agreement to lockrate@penfed.org in a timely manner to ensure PenFed can meet your closing date.

The applicant is responsible for the following fees and costs at the time of closing: Appraisal fee, tax service fee, application fee or CLO access fee, if applicable, 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.

Escrows may be waived if LTV is 80% or less in all states.

Additional reserve requirements may apply.

If you withdraw an application that was locked and reapply within 30 days, the new application is subject to worst case pricing.

2 Conventional Fixed Rate.

Investment properties not eligible for offers.

All Fixed Rate Mortgage Programs: The application of additional loan level pricing adjustments will be determined by various loan attributes to include but not limited to the loan-to-value (LTV) ratio, credit score, transaction type, property type, product type, occupancy, and subordinate financing.

Conforming Mortgages: For loan amounts from $25,000 to $484,350.00. Loan amounts up to $679,650.00 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 $484,350.00 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). The LTV and CLTV limits may vary depending on the property type, loan program and occupancy.

For purchase applications, please submit a copy of your fully signed ratified purchase agreement to  lockrate@penfed.org  in a timely manner to ensure PenFed can meet your closing date.

The applicant is responsible for the following fees and costs at the time of closing: Appraisal fee, tax service fee, application fee or CLO access fee, if applicable, 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.

Escrows may be waived if LTV is 80% or less in all states.

Additional reserve requirements may apply.

If you withdraw an application that was locked and reapply within 30 days, the new application is subject to worst case pricing.

The above disclosures applies to non-Veteran’s Administration (VA) loans. VA loans have different guidelines and eligibility requirements.

3Fixed Jumbo Mortgage

Investment properties not eligible for offers. 

All Fixed Rate Mortgage Programs: The application of additional loan level pricing adjustments will be determined by various loan attributes to include but not limited to the loan-to-value (LTV) ratio, credit score, transaction type, property type, product type, occupancy, and subordinate financing.

Jumbo Mortgages: For loan amounts above $484,350.00 to $2,000,000.00. For purchase and limited cash out refinance, the maximum loan-to-value (LTV) is 90% and the maximum combined loan-to-value (CLTV) is 90% for a one unit property. The LTV and CLTV limits may vary depending on the property type, loan program and occupancy.

NOTE: Points are the responsibility of the borrower and not covered in promotions.

For purchase applications, please submit a copy of your fully signed ratified purchase agreement to lockrate@penfed.org in a timely manner to ensure PenFed can meet your closing date.

The applicant is responsible for the following fees and costs at the time of closing: Origination fee, if any, Appraisal fee, tax service fee, application fee or CLO access fee, if applicable, 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.

Escrows may be waived if LTV is 80% or less in all states.

Additional reserve requirements may apply.

If you withdraw an application that was locked and reapply within 30 days, the new application is subject to worst case pricing.

The above disclosure applies to non-Veteran’s Administration (VA) loans. VA loans have different guidelines and eligibility requirements.