​Navy Federal Credit Union mortgage review 2025 

Founded by a group of Navy Department employees in 1933, Navy Federal Credit Union has expanded into the largest credit union in the U.S., opening membership to all service members, veterans, Department of Defense employees and their families. It’s among the largest providers of VA loans, mortgages for military families that don’t require down payments or private mortgage insurance. It also offers proprietary loans that can make homeownership affordable.Learn MoreApply online for personalized ratesConventional, VA, Military Choice, Homebuyers Choice, refinancing, HELOC10-30 yearsNot disclosed5% for conventiona, 0% for VA, Military Choice and Homebuyers Choice Terms apply.View MoreNavy Federal Credit Union mortgage reviewPros and cons of Navy Federal Credit UnionNavy Federal Credit Union types of home loansHow do I qualify for a Navy Federal Credit Union mortgage?Benefits and discountsRefinancingCustomer serviceHow Navy Federal Credit Union compares to other lendersHow do I apply for a mortgage with Navy Federal Credit Union?Is Navy Federal Credit Union right for me?Navy Federal Credit Union FAQOur methodologyPros and cons of Navy Federal Credit Union mortgagesProsSome of the lowest VA loan rates on the market Will match competitor’s rate or pay $1,000Military Choice Loan lets sellers contribute up to 7% to closing costsCan lower mortgage rate without refinancingConsLimited to to active-duty military veterans, Department of Defense staff and their familiesCredit score requirements not disclosedFHA and USDA loans are not availableNavy Federal Credit Union types of home loansNavy Federal offers conventional, VA and jumbo loans in all 50 U.S. states.Fixed-rate: Borrowers keep the same rate for the life of their loan. Navy Federal Credit Union offers fixed-rate terms between 15 and 30 years.Adjustable-rate: Adjustable-rate mortgages (ARMs) start with a fixed rate for a set period and then adjust at regular intervals. NFCU offers ARMS with fixed rates for the first three or five years.VA loans: Veterans and active-duty service members can apply for this lower-rate loan without a down payment or private mortgage insurance. NFCU finances VA loans up to $2 million.Jumbo loans: A jumbo loan exceeds the conforming limits set by the Federal Housing Finance Agency. Navy Federal Credit Union issues jumbo loans of up to $2 million for those who put 10% or more down and $1 million for those who put at least 5% down.How do I qualify for a Navy Federal Credit Union mortgage?Credit score: Varies, although non-traditional forms of credit and a borrower’s past relationship with NFCU will be considered. Down payment: 5% Debt-to-income ratio: Varies. Lenders typically require borrowers to have a DTI of no more than 50%.Benefits and discountsNavy Federal Credit Union offers a variety of unique programs for borrowers.Military Choice loanLike a VA loan, this zero-down payment mortgage is available to military members with no mortgage insurance. But Milit