PENFED REAL ESTATE REWARDS

Save 1.5% of your loan amount up to $10,0001

with PenFed Real Estate Rewards

HOW IT WORKS

STEP 1:

To learn more, FILL OUT OUR BASIC FORM. Let us connect you with a real estate agent in our national network.

STEP 2:

Review PenFed Real Estate Rewards mortgage products.

collect your rewards

STEP 3:

Purchase your home with our Real Estate Rewards program and claim your benefit.

When you take advantage of PenFed's Real Estate Rewards, you can save thousands when you use certain eligible mortgage products to purchase your homes: 

  • For 5/5 and 15/15 Adjustable Rate Mortgages:
  • PenFed will give a promotional credit of 1.5% of the loan amount up to $10,0001.


  • For Eligible Fixed-Rate Mortgages:
  • Pay no origination fee2 - which could save you thousands. 


  • Veterans: for Eligible Fixed-Rate VA Loans:
  • PenFed Promotional credit of % of the Total Loan Amount3.


Call to learn more.

DISCLOSURES: Print IconPrint

Promotions are in effect as of May 13, 2018 and subject to change without notice. Only purchase transactions are eligible for promotions. To receive any advertised product or service, you must become a member of PenFed.

1 On eligible adjustable rate mortgages, PenFed will give a promotional credit of 1.5% of the loan amount not to exceed $10,000. Available when obtaining an eligible mortgage through PenFed, using a network real estate agent and using our affiliate title providers. In states where PenFed does not have an affiliated title company, and in Florida, New York and Texas, members can choose their own title company and still be eligible for the promotion. Promotion available for the purchase of a primary residence or second home only. Other restrictions may apply.

2 For eligible fixed-rate mortgages, you pay no origination fee. Available when obtaining the eligible mortgage through PenFed, using a network real estate agent and using an affiliated title provider. In states where PenFed does not have an affiliated title company, and in Florida, New York and Texas, members can choose their own title company and still be eligible for the origination fee waiver. 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.

3 On eligible fixed rate VA mortgages, PenFed will give a promotional credit of 1% of the total loan amount. Loan amounts available up to Department of Veterans Affairs' (VA) 2018 loan limits for the One-Unit Limit. While a veteran may use the promotion to acquire a property up to 2-units in size, the total loan amount will be based on the One-Unit (single-family residence) limit for the county in which the collateral is located. Veteran may finance the funding fee and still be eligible for the promotional credit even if the addition of the financed funding fee exceeds the county loan limit.  Available when obtaining an eligible mortgage through PenFed, using a network real estate agent and using our affiliate title providers. In states where PenFed does not have an affiliated title company, and in Florida, New York and Texas, members can choose their own title company and still be eligible for the promotion. Promotion available for the purchase of a primary residence. Applicant is responsible for VA funding fee. Other restrictions may apply.

Check out these examples of Real Estate Rewards

James in Maryland could save $4,440
with Real Estate Rewards.

Mortgage Type:                    Adjustable-Rate

Loan Amount:                      $296,000


Origination fee:                    $0.00

1.5% of loan amount :       $4,440

Total Savings:         $4,440

Ernest in Texas could save $2,680
with Real Estate Rewards.

Mortgage Type:                      Fixed-Rate

Loan Amount:                         $268,000


Origination Fee Waiver:      $2,680

 

Total Savings:               $2,680

SGT Grant in Oregon could save $2,758.11
with Real Estate Rewards.

Mortgage Type:                    Fixed VA Conforming Mortgage

Loan Amount:                      $275,811


Origination fee:                    $0.00

1% of loan amount :       $2,758.11

Total Savings:         $2,758.11

Annie in Delaware could save $10,000
with Real Estate Rewards.

Mortgage Type:                    Adjustable-Rate

Loan Amount:                      $675,000


Origination fee:                    $0.00

1.5% of loan amount :       $10,125.00

Total Savings:               $10,000

KEY TERMS

ORIGINATION FEE

The fee that a mortgage lender charges to create a mortgage secured by real property

CLOSING COST

The total of all the items that must be paid at closing related to your new mortgage.

 

ADJUSTABLE RATE MORTGAGE

An adjustable rate mortgage, commonly referred to as an ARM, is a loan type that allows the lender to adjust the interest rate during the term of the loan. Generally, these changes are determined by a margin and an index so that the interest rate changes, up or down, are based on market conditions at the time of the change. Most often these interest rate changes are limited by a rate change cap and a lifetime cap. If you apply for an adjustable rate mortgage, the lender is required to provide you with an ARM Program Disclosure which spells out the terms of the loan.

TITLE COMPANY

A company that specializes in examining titles to real estate and issuing title insurance.

To be eligible for these promotions you must complete the Real Estate Rewards Contact form or contact us at to be assigned to a network real estate agent through our national referral network. You are also required to use the services of an affiliate title provider.
 

CALL TO LEARN MORE