To receive the advertised product, you must become a member of PenFed Credit Union, which is federally insured by the NCUA.
1Members 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 $699,999 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 real estate broker paid closing cost credit is not available in AK, IA, KS, LA, MO, MS, OK, OR or TN.
2Power Buyer Certification is contingent on a full underwriting review and approval of loan documentation and other creditworthiness conditions. Offering is subject to change at any time, some loan programs may be excluded. Talk to a Penfed Mortgage Loan Officer for additional details.
3Power Buyer Lock While You Shop is applicable to first mortgage pre-approval home purchases that have received approve/eligible finding. Not applicable on HELOC or refinance transactions. To ensure timely closing within the rate lock period, the borrower should provide an executed sales contract and full property address to PenFed within the initial 30 days of the lock period. Extending a rate lock is subject to applicable rate extension fees to be paid at closing. Some loan programs may be excluded. Offering is subject to change at any time, some loan programs may be excluded. Talk to a Penfed Mortgage Loan Officer for additional details.
Power Buyer Solutions are subject to change at any time and without notice. Talk to a PenFed Mortgage Loan Officer for additional details.
Certain loan types may not be eligible for Power Buyer.
40% APR for 6 months. After that, a fixed APR between 7.99% and 17.99% applies. Your fixed APR applicable after the promo expiration will be determined at the time of loan disbursement and will be based on your application and credit information. The 0% APR for 6 months offer is valid for consumers working with a PFR agent. To be eligible for the 0% APR for 6 months, you must submit a PenFed Makeover Advantage Loan application through your PFR agent. "0% APR" means all loan payments received in the 6 months following loan origination will be applied exclusively to your unpaid loan balance. After 6 months, your loan payments will be applied to the unpaid loan balance and applicable finance charges.