Navy Federal Credit Union Mortgage

Navy Federal Credit Union Mortgage is a credit union that offers loans for buying a home, refinancing and cash-out refinancing. On its own site it lists Conventional, VA, Jumbo, Homebuyers Choice (0% down) and Military Choice (0% down) loans. Navy Federal membership: armed forces, Department of Defense, veterans and their families, with a Membership Savings Account of at least $5. At least one borrower must be a member for initial approval. Who can borrow, as the lender publishes it: Navy Federal Credit Union Mortgage does not publish a minimum credit score on the pages we read. Minimum down payment: 0% (0% on VA, Homebuyers Choice and Military Choice; conventional fixed requires at least 5%; 3% down on Homebuyers Choice waives the 1.75% funding fee). Costs and timing: 1% origination fee on its advertised Choice rates, waivable for a 0.25% higher rate. Choice loans carry a 1.75% funding fee. No application fee, and Navy Federal says it never requires PMI. Rate lock: No-Cost Freedom Lock: a 60-day lock with up to two float-downs (total drop up to 0.25%) at no charge. A 90-day extended lock may cost 0.125% of the loan amount. The lock is set after a purchase agreement is submitted. Closing time (its own claim): Typically 30 days to close a purchase and 30 to 45 days for a refinance (Navy Federal's own estimate). Navy Federal Credit Union Mortgage publishes an example rate table with its assumptions (shown on this page, dated October 14, 2026). It is the lender's illustration, not a quote for you: your own rate depends on your credit, down payment, property and state. We read these figures from Navy Federal Credit Union Mortgage's own pages on October 14, 2026; the pages are listed under 'Where these numbers come from'.