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Different Types of Mortgage Refinances

What You’ll Learn:Determine What Are the Different Types of Mortgage Loans

Topic Discussed:Refinance, Conventional loans, Home Ownership

Expected Read Time:5 MINS

Published: Mar 11, 2022

Discover the best refinance options including refinancing from FHA to conventional, VA streamline refi's, refinancing home equity,1st & 2nd into one loan.
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Do Sellers Prefer Conventional Loans?

What You’ll Learn:Why Some Sellers Prefer Conventional Financing

Topic Discussed:Purchase, Conventional loans, VA Loans, Closing on a Home

Expected Read Time:6 MINS

Published: Jan 07, 2022

Is there a difference between FHA vs. Conventional for seller? From days to close, credit scores, and appraisal guidelines see what sellers are considering.
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Top Four States to Buy Rental Property

What You’ll Learn:

Topic Discussed:Purchase, Conventional loans, First Time Home Buyer, Getting Started

Expected Read Time:5 MINS

Published: Jun 11, 2021

Investing in rental property can be rewarding. Read on to discover the top four states to purchase 1-to-4-unit rental properties and tips to help along the way.

Questions to Ask When Buying a Vacation Home

What You’ll Learn:

Topic Discussed:Purchase, Conventional loans, First Time Home Buyer, Getting Started

Expected Read Time:5 MINS

Published: Jun 11, 2021

Buying a vacation home is exciting, but there's a lot to consider from location, financing, down payment, and cap rate. Read on to see what questions to ask when buying a vacation home.

FHA vs. Conventional Private Mortgage Insurance

What You’ll Learn:

Topic Discussed:Purchase, FHA Loans, Conventional loans, Getting Started

Expected Read Time:3 MINS

Published: Jun 04, 2021

Understand private mortgage insurance (PMI) by answering these questions: How much is PMI? Do conventional and FHA loans have PMI? How can you get rid of PMI?

Conventional Loan Down Payment

What You’ll Learn:

Topic Discussed:Purchase, Conventional loans, First Time Home Buyer, Getting Started

Expected Read Time:4 MINS

Published: May 28, 2021

How much down payment do you need for a conventional loan? Get the answer to that and learn more about conventional loans.

How Is a Jumbo Loan Different than a Conforming Loan?

What You’ll Learn:Is a jumbo loan right for you

Topic Discussed:Purchase, Jumbo Loans, Conventional loans, Getting Started

Expected Read Time:4 MINS

Published: Apr 02, 2021

Jumbo loans make luxury homes a reality. Read on and find out what a jumbo loan is, what makes a mortgage jumbo, and what the benefits of a jumbo loan are.
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VA Loan Compared to a Conventional Loan

What You’ll Learn:What are the differences between VA and conventional loans

Topic Discussed:Purchase, VA Loans, Conventional loans, Getting Started

Expected Read Time:10 MINS

Published: Feb 19, 2021

Discover what the difference between a VA loan and a conventional loan is. Answer the question of if a VA loan is better than a conventional loan?
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What Is a Conforming Loan?

What You’ll Learn:How conforming loans work and if they're right for you

Topic Discussed:Purchase, Conventional loans, First Time Home Buyer, Getting Started

Expected Read Time:2 MINS

Published: Nov 10, 2020

A conforming loan is based on guidelines set by government sponsored entities. It is important to understand what a conforming loan is and its differences from other mortgage loans.
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What Is a Conventional Loan?

What You’ll Learn:What a conventional loan is and if it's right for you

Topic Discussed:Purchase, Conventional loans, First Time Home Buyer, Getting Started

Expected Read Time:2 MINS

Published: Nov 10, 2020

Find out what conventional loans are and how they differ from other loans like VA and FHA. Discover the benefits, credit requirements, and if a conventional mortgage is right for you.
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CONVENTIONAL LOANS

Rates starting at % (APR %)¹

 

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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

Home Buying Steps

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PenFed HELOC

Rates as Low as % APR with flexible use of funds

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

Disclosures

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.

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