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Reasons When Refinancing to a Higher Rate can Make Sense

What You’ll Learn:Learn whether refinancing at a higher rate may be the right move for you

Topic Discussed:Refinance, Home equity, Homebuying 101, Getting Started

Expected Read Time:5 MINS

Published: May 12, 2023

Considering refinancing but worried about the higher rate? Here is a list of instances when refinancing at a higher rate may be beneficial
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When is a Cash-Out Refinance Better than a HELOC

What You’ll Learn:Learn about the perks of a cash-out refinance over a HELOC

Topic Discussed:Refinance, Home equity, Homebuying 101, Getting Started

Expected Read Time:5 MINS

Published: May 12, 2023

Considering a Cash-Out Refinance as opposed to a HELOC? Here you'll see how a Cash-Out Refinance may be the better choice for you.
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10 Benefits of Homeownership

What You’ll Learn:The importance of homeownership including building wealth and tax benefits

Topic Discussed:Purchase, Homebuying 101, PenFed Top 10, Getting Started

Expected Read Time:4 MINS

Published: Apr 19, 2023

Is homeownership right for you? Explore 10 of the top benefits of homeownership, from building equity to tax savings.
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What Homebuyers Need to Know About Closing Costs

What You’ll Learn:Average percentage for closing costs, typical fees, and ways you can save money

Topic Discussed:Purchase, Homebuying 101, First Time Home Buyer, Getting Started

Expected Read Time:3 MINS

Published: Apr 19, 2023

Learn who pays mortgage closing costs, how to estimate homebuyer cost to close, what fees make up closing costs, and ways to save.
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How to Get a VA Loan

What You’ll Learn:Steps involved in getting a VA loan

Topic Discussed:Purchase, VA Loans, First Time Home Buyer, Getting Started

Expected Read Time:3 MINS

Published: Apr 07, 2023

To get a VA loan, you have to be eligible. Find out what the requirements are, how to get your Certificate of Eligibility (COE), and what fees come with a VA home loan.
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Buying Your First Home with a VA Loan: Getting Started

What You’ll Learn:Three key steps to follow before moving forward with a VA Loan.

Topic Discussed:Purchase, Homebuying 101, VA Loans, Getting Started

Expected Read Time:5 MINS

Published: Apr 07, 2023

Unsure where to begin as a first-time homebuyer in the military? Read our three-step guide to becoming VA loan-eligible.
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What Insurance Do I Need For My Condo?

What You’ll Learn:Learn about what is and is not typically covered under condo insurance

Topic Discussed:Purchase, First Time Home Buyer, Homebuying 101, Getting Started

Expected Read Time:4 MINS

Published: Mar 23, 2023

Curious about condo insurance coverage? Here's some information to help you better understand standard policy coverages and limitations.
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How to Prepare Your Family and Your Home from Natural Disasters

What You’ll Learn:Learn some of the steps to take in preparation for natural disasters

Topic Discussed:Purchase, First Time Home Buyer, Homebuying 101, Home Ownership

Expected Read Time:4 MINS

Published: Mar 23, 2023

Get guidance on emergency professionals' recommendations for preparing your family and home for natural disasters.
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Tips for Finding Excellent Contractors, Electricians, and Plumbers

What You’ll Learn:Learn the key components every reputable contractor should have

Topic Discussed:Purchase, First Time Home Buyer, Homebuying 101, Home Ownership

Expected Read Time:4 MINS

Published: Mar 23, 2023

Not sure how to decide who to hire for your home renovation, electrical work or plumbing? Here are some tips to help you make a more informed decision.
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Items that are (Probably) not Covered by Your Homeowner's Insurance Policy

What You’ll Learn:Learn about what is typically not covered under your homeowner's insurance polic

Topic Discussed:Purchase, First Time Home Buyer, Homebuying 101, Home Ownership

Expected Read Time:4 MINS

Published: Mar 23, 2023

Curious about you homeowner's insurance limitations? Here are some items that are probably not covered under your policy.
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CONVENTIONAL LOANS

Rates starting at % (APR %)¹

 

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

Home Buying Steps

Mortgage Topics

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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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