30 Year VA Fixed Rate Mortgages – Purchase
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30 Year VA Fixed Rate Mortgages – Purchase

You’ve served us. Now, we want to help you get ahead with this secure, predictable mortgage.

Apply Now
Apply before becoming After your application we'll help you: 1. Discover how you're eligible to become a PenFed member 2. Open a Savings/Share Account and by depositing $5.


Rates As Low As1 Points APR As Low As1



* Payment Example

The following payment example assumes a purchase loan with points and that the purpose of the loan is to purchase a property, with a loan amount of $ and an estimated property value of $. Property located in Fairfax County, VA. The property is an existing single family home and will be used as a primary residence. The rate lock period is 45 days and the assumed credit score is .

At a interest rate, the APR for this loan type is . The monthly payment schedule would be:

  •  payments of $ at an interest rate of
  • 1 payment of $ at an interest rate of 

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.


  • Predictable payments
  • Low down payment

• Offers not available on investment properties

• Based on loan amount, higher rates may apply

Find answers about VA mortgage loans by visiting our VA Mortgage FAQ page

Disclosures: Print Icon Print

1All rates and offers are in effect as of , 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. Other restrictions may apply. Contact your PenFed Mortgage Representative for any applicable additional restrictions and details about your loan. 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.

To receive any advertised product you must become a member of PenFed. Federally insured by the NCUA.

VA Mortgages: For loan amounts from $50,000 to $510,400. If loan amount is higher than $510,400 to $1,500,000, 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.

Applicant is responsible for VA funding fee. Funds must be used to purchase or refinance a property that will be the primary residence. Refinances of an existing VA-guaranteed mortgage for the purpose of lowering the interest rate is also allowed (is not required to be primary residence).

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.

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

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

VA Mortgage Frequently Asked Questions

Posted December 2014
by PenFed Team

Though there are many options for home loans, members of the military looking to buy a new home should take a look at VA Mortgages. This type of loan, regulated by the Department of Veterans Affairs, has some decided advantages over conventional mortgages: namely that you don’t necessarily need to put up a down payment and you won’t have to pay private mortgage insurance even if you don’t meet the typical down payment requirements.

Want to know more? Read our list of frequently asked questions to find out what you need to know about VA home loans.

What Does a VA Loan Offer?

VA mortgages are particularly compelling because they don’t always require a down payment (or a large down payment). While you can sometimes find loans with low down payment requirements, they typically require you to pay PMI (private mortgage insurance) to protect the lender in case you default — but with VA mortgages, there’s no PMI since the VA guarantees the loan. Each service-member or veteran that meets eligibility requirements has a basic entitlement, which is the amount the VA will guarantee to the lenders. Lenders will typically offer up to four times that amount in a mortgage without a down payment, which can make a VA loan an easy way to get in to a new home.

However, some VA loans do have a funding.

What Can I Do With A VA Loan?

VA mortgages can help you build, purchase, renovate, or refinance your primary home. Second homes or vacation homes aren’t eligible.

What Will a VA Loan Cost Me?

VA loans have a funding fee you must pay to the VA (or finance as part of your loan) — though disabled veterans and surviving spouses are typically exempt. The exact fee varies depending on the type of service and how much of a down payment you’re putting down, with higher fees for lower down payments. However, even if you don’t pay a down payment, you won’t have to pay any type of mortgage insurance — which is definitely an advantage if you can’t come up with the 20% down payment typically required to avoid PMI on a conventional loan.

Before you decide to go with a low or no down payment VA loan, you’ll want to do the math: will it cost you more or less in the long-run to pay the up-front financing fee than to pay the down payment and get a conventional mortgage?

Can I Qualify For A VA Loan?

Veterans and current members of the military (including Reserves and National Guard) are eligible for VA loans once they meet active duty service requirements (which vary). Surviving spouses may also qualify.

Though VA loans are typically easier to qualify for than conventional loans, lenders may require a certain credit score to get a loan or get the best rates — talk to your lender and don’t be afraid to shop around to find a lender that offers you the best terms.

VA loans follow a process very similar to conventional loans, but in addition to the regular paperwork you will need a certificate of eligibility from the VA to apply and a VA appraisal of the property (which your lender should take care of).


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