PenFed Mortgage Rates 2025
Complete Guide to Credit Union Home Loans & Current Rates
Competitive Rates
Starting from 6.75% APR
VA Loans
$0 Down Payment
Low Fees
1% Max Origination
Current PenFed Mortgage Rates – January 2025
Updated daily rates for all loan programs with competitive terms
30-Year Fixed
APR: 6.932%
15-Year Fixed
APR: 6.452%
VA Loan
APR: 6.821%
FHA Loan
APR: 6.712%
PenFed Rate Trends – Last 12 Months
Important Note
Rates shown are estimates and may vary based on credit score, loan amount, down payment, and other factors. Use our PenFed Mortgage Calculator for personalized estimates.
PenFed Mortgage Loan Programs
Choose from a variety of loan options designed to meet your needs
Conventional Loans
- Fixed and adjustable rates available
- Down payment as low as 3%
- Loan amounts up to $1.5 million
- Competitive rates for members
VA Loans
- $0 down payment required
- No private mortgage insurance
- Capped processing fee at $995
- Flexible credit requirements
FHA Loans
- 3.5% down payment minimum
- Flexible credit guidelines
- Government-backed security
- Ideal for first-time buyers
Jumbo Loans
- Loan amounts above conforming limits
- Competitive jumbo rates
- Fixed and ARM options
- High-value property financing
Refinancing
- Lower your monthly payment
- Cash-out refinancing available
- Streamlined VA refinancing
- Quick approval process
Construction Loans
- Build your dream home
- Construction-to-permanent loans
- Competitive construction rates
- Expert construction guidance
Why Choose PenFed for Your Mortgage?
Discover the advantages of working with America’s largest credit union
Member Benefits
- Low Fees: Maximum 1% origination fee ($1,995 cap)
- Competitive Rates: Member-exclusive pricing
- Fast Processing: Quick approval and closing
- Personal Service: Dedicated loan specialists
Military Focus
- VA Specialists: Expert VA loan processing
- No PMI: VA loans with no mortgage insurance
- Flexible Terms: Accommodating military life
- Worldwide Service: Support wherever you’re stationed
Ready to Calculate Your Payment?
Use our comprehensive mortgage calculator to estimate your monthly payments with current PenFed rates
Calculate Your PaymentPenFed vs Other Mortgage Lenders
See how PenFed compares to major banks and lenders
| Feature | PenFed | Wells Fargo | Chase | Bank of America |
|---|---|---|---|---|
| 30-Year Fixed Rate | 6.875% | 7.125% | 7.250% | 7.000% |
| Origination Fee | 1% max ($1,995) | 0.5% – 1% | 0% – 1% | 0% – 1% |
| VA Loan Processing | $995 cap | Varies | Varies | Varies |
| Minimum Down Payment | 0% (VA), 3% (Conv) | 3% | 3% | 3% |
| Rate Lock Period | 60 days | 60 days | 60 days | 60 days |
| Customer Service | Award-winning | Good | Good | Good |
Why PenFed Stands Out
As a credit union, PenFed returns profits to members through better rates and lower fees. Their military focus and specialized VA loan programs make them ideal for service members and veterans.
Frequently Asked Questions
Get answers to common questions about PenFed mortgages
Who can join PenFed?
PenFed is open to military members, veterans, Department of Defense employees, and their families. You can also join through qualified associations or by opening a savings account with a $5 minimum deposit.
What credit score do I need?
PenFed typically requires a minimum credit score of 580 for FHA loans and 620 for conventional loans. VA loans may have more flexible requirements for qualified veterans.
How long does approval take?
PenFed typically provides pre-approval within 24-48 hours and full underwriting within 7-10 business days. Their streamlined process helps ensure faster closings.
Can I refinance with PenFed?
Yes, PenFed offers refinancing options including rate-and-term refinancing, cash-out refinancing, and VA streamline refinancing (IRRRL) for existing VA loans.
What are the loan limits?
PenFed offers conventional loans up to $1.5 million and follows standard conforming loan limits. VA loans have no maximum limit but are subject to entitlement amounts.
Are there prepayment penalties?
No, PenFed does not charge prepayment penalties on their mortgage loans. You can pay off your loan early or make extra payments without additional fees.
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