/2016_-_Q1_Year_To_Shine/logo.png "Pentagon Federal Credit Union"){kind=logo}
REQUIREMENTS:
- Full underwriting review
- Loan documentation approval
- Other creditworthiness conditions
Please note that approval is based on no material adverse changes in financial condition, creditworthiness, or employment status.
Rates starting at % (APR
%)¹
Affordable home ownership.
Quick equity access
Lock while you shop2
Power Buyer Certification
Credit Check
Underwriting review
Certificate is valid for 60 days (from time credit is ordered)
Compete with cash buyers by obtaining up-front approval to purchase a home based on your financial profile
Lock While You Shop
Shop for your new home knowing your interest rate is secured
Take up to 60 days to shop and close on your new home
Speak with your loan officer to lock in your rate
Rate lock may be extended for an additional 30 days
REQUIREMENTS:
- Rate lock and locked-in terms are valid and must close within 60 days of lock
- Lock and Shop only available with Power Buyer certification
- Only a loan officer can lock in your rate
- Credit check required
- Property address and contact must be provided within 30 days to meet closing date on or before rate lock expires
- Rate lock can be extended for additional 30 days for a prorated daily fee of max .25 pt
- Some loan programs may be excluded
Power Selling Tools
Cash Buyer Financing lets you leverage the advantage of paying for your home with cash - you can tap into the equity of your new home in as little as 30 days
Choose a flexible close date so contingent buyers avoid costs
Disclosures
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 1.25 discount point, which equals 1.25 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.
²Power Buyer Lock While You Shop is applicable to first mortgage pre-approval home purchases that have received approve/eligible finding. Not applicable on HELOC or refinance transactions. To ensure timely closing within the rate lock period, the borrower should provide an executed sales contract and full property address to PenFed within the initial 30 days of the lock period. Extending a rate lock is subject to applicable rate extension fees to be paid at closing. Some loan programs may be excluded. Offering is subject to change at any time, some loan programs may be excluded. Talk to a PenFed Mortgage Loan Officer for additional details.
Power Buyer Certification is contingent on a full underwriting review and approval of loan documentation and other creditworthiness conditions. Offering is subject to change at any time, some loan programs may be excluded. Talk to a PenFed Mortgage Loan Officer for additional details.
Power Buyer Solutions are subject to change at any time and without notice. Talk to a PenFed Mortgage Loan Officer for additional details.
Certain loan types may not be eligible for Power Buyer.
General Disclosures
Points are the responsibility of the borrower and not covered in promotions.
To receive any advertised product, you must become a member of PenFed.
