30 Year VA Fixed Rate Mortgages
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30 Year VA Fixed Rate Mortgages

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.

30-Year VA Mortgage Rates

Rates As Low As1 Points APR As Low As1



* Payment Example

The following payment example assumes a 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 . The property is located in Alexandria, VA and is within Fairfax county. The property is an existing single family home and will be used as a primary residence. The rate lock period is 60 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
  • payments 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
  • Free 60 day rate lock
  • Low down payment
  • Eligible for PenFed Real Estate Rewards

• For home purchases or refinancing

• VA’s 2018 Loan Limits are the same as the Federal Housing Finance Agency’s limits - 2018 Loan Limits (Effective January 1, 2018). Learn More

• Offers not available on investment properties

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

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1Rates 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 obtain any advertised rate, you may have to pay a one-time origination fee.

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.

All rates and offers are in effect as of , offered for a limited time and subject to change without notice. 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.

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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