¹Rates are updated daily at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on discount point, which equals 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.

²VA Fixed Rate

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.

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.

³Closing Costs covered are Credit Report Fees, Flood Certification, Tax Service Fees, VA Funding Fees, Title Fees, Recording Fees, and Transfer Taxes. Other fees may & taxes apply such as discount points, pre-paid interest, property taxes, and property insurance, which will be the member's responsibility.

⁴Conventional Fixed Rate

Investment properties not eligible for offers.

All Fixed Rate Mortgage Programs: 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.

Conforming Mortgages: For loan amounts from $50,000 to $726,200. Loan amounts up to $822,375 are available in Alaska, Guam and Hawaii. For purchase and limited cash out refinance, the maximum loan-to-value (LTV) and combined loan- to-value (CLTV) for a one unit property is 95% except for First Time Homebuyer and Home Ready programs which permit 97% financing. Loan amounts up to $647,200 are available in Puerto Rico and the maximum LTV and CLTV is 95%. Loans with a LTV of 80% or greater are subject to private mortgage insurance (PMI). The LTV and CLTV limits may vary depending on the property type, loan program and occupancy.

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.

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.

The above disclosures applies to non-Veteran’s Administration (VA) loans. VA loans have different guidelines and eligibility requirements.

⁵Fixed Jumbo Mortgage

Investment properties not eligible for offers.

All Fixed Rate Mortgage Programs: 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.

Jumbo Mortgages: For loan amounts above $726,200 to $5,000,000. For purchase and limited cash out refinance, the maximum loan-to-value (LTV) is 80% and the maximum combined loan-to-value (CLTV) is 80% for a one unit property. The LTV and CLTV limits may vary depending on the property type, loan program and occupancy.

NOTE: Points are the responsibility of the borrower and not covered in promotions.

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.

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.

The above disclosure applies to non-Veteran’s Administration (VA) loans. VA loans have different guidelines and eligibility requirements.

⁶Members are eligible to receive the real estate broker paid closing credit when their transaction is completed with both PenFed mortgage and the referred PenFed real estate network agent to purchase their new home. Member must use the PenFed qualified real estate network agent assigned to member to close their real estate transaction. If Member has already closed on a property or are currently using, and wish to continue using, an unqualified PenFed network real estate agent, Member will not qualify for this benefit. Real estate broker paid closing cost credit will be $1,000 for purchase prices up to $699,999K and $1,500 for purchase prices over $700,000. Credit must be listed on the sales contract or addendum, and on the final Closing Disclosure (CD). Members can obtain lender and real estate services separately, but the real estate broker paid closing cost credit will not apply. The seller and/or other credits must be reduced if the loan has reached the maximum allowable credit limit per the loan product. Due to state guidelines the broker paid the real estate broker paid closing cost credit is not available in AK, IA, KS, LA, MO, MS, OK, OR or TN.