Navy Federal mortgage programs are designed to fit your needs and include:
Use the following chart to compare features for our mortgage programs.
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- You want the stability of fixed monthly payments.
- You expect interest rates to rise.
- You plan to stay in your home for a long time.
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- Fixed payments for the life of the loan
- 15- or 30-year terms
- No PMI for most loans
- Biweekly payments available
- Jumbo financing available
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- You're a first-time homebuyer.
- You can make a low down payment.
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- Fixed payments for the life of the loan
- 15- or 30-year terms
- No PMI
- Loans up to $650,000
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- You're an active duty member.
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- Fixed payments for the life of the loan
- 30-year term
- No PMI
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- You're an eligible veteran.
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- Fixed payments for the life of the loan
- 15- or 30-year terms
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- You're a first-time homebuyer seeking a low down payment.1
- You need more flexibility in qualifying.
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- Competitive rates
- Offers a refinancing option for members with first mortgages from other lenders
- Loan amounts up to $729,750 in some high-cost markets2
- Fixed-rate, 15- and 30-year repayment terms on purchases and refinances
- 1/1 and 3/1 FHA Adjustable Rate Mortgages
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*Loans are subject to an additional funding fee, which may be financed up to a maximum loan-to-value of 95%.
Further restrictions may apply in Florida and California.
1Federal Housing Administration (FHA) loans require a minimum of 3% down payment.
2Applies to large metropolitan areas as defined on FHA Web site. |
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- You need a larger loan amount but want to keep your payments lower.
- You plan to move or refinance in a certain number of years.
- You expect your income to increase.
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- Lower fixed-rate loan payments for the initial term
- Initial term of 3-, 5-, or 7-years followed by 1-year interest rate adjustments
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(A special Navy Federal program)
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- You're looking for an alternative to refinancing with a guaranteed rate every two years.
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- Lower fixed-rate loan payments for the initial term of 2 years
- Interest rate adjusts every 2 years
- Easy refinance option
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- You want a lower interest rate and monthly payments.
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- Payments based on a 30-year fixed-rate term for 7 years
- After 7 years, choose to pay balance in full or refinance
- Jumbo financing available
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