POWER BUYER

The Edge you need to win in today's home buying market

  • Compete with Cash buyers
  • Sure Sale - When Selling
  • Lock While You Shop
  • Fast Access to Equity

What is the Power Buyer Advantage?

This video will help guide you through the key advantages of the Power Buyer program, which provides you with the tools you need to succeed in this highly competitive housing market

Advantages When Buying a Home

Everything you need to make home buying successful

Power Buyer Certification

Credit card

Credit Check

Underwriting review

Certificate is valid for 60 days (from time credit is ordered)

Compete with cash buyers  by optaninig up-front approval to purchase a home based on your financial profile

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

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.

Lock While You Shop

Credit card

Shop for your new home knowing your interest rate is secured

Take up to 60 days to shop for your new home

Speak with a loan officer to lock your rate

Rate lock can be extended for up to 30 days

Credit check

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

REQUIREMENTS:

  • Rate lock and locked-in terms are valid once and good for 60 days.
  • Only a loan officer can lock in a rate.
  • Property address and contract should be provided within 30 days to meet closing date on or before rate lock expires.
  • Rate lock can be extended for 30 days at an additional cost.
  • One time use of a float down option is available for an addtional fee.
  • Not valid for HELOC or refinance transactions.

Advantages When Selling

Everything you need to sell your home fast

Power Selling Tools

Credit card

Sure Sale takes the worry out of buying while trying to sell an existing house

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

Receive a competitive offer on your home in as little as 24 hours

Avoid risking a potential buyer having their financing fall through

Choose a flexible close date so contigent buyers avoid costs

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

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