PenFed Mortgage Refinance Review

#17 in Mortgage Refinance

 

PenFed is a credit union dedicated to helping its members get access to financial services nationwide. It currently has over 1.4 million members and over $19 billion in assets. It is an equal housing lender and has helped members avail of home loans and mortgage refinancing services.

 

Types of Home Refinancing Mortgages

  • Fixed Rate Mortgages
  • Adjustable Rate Mortgages
  • VA Fixed

 

Other home loan options

Home equity loans

 

Qualifying for Mortgage Refinance

  • Proof of income
  • Proof of assets
  • Complete accounting of debts
  • Proof of insurance
  • Personal information and background
  • Documents for special circumstances

 

Refinance Mortgage Rates

Mortgage Types

APR

30 Year FRM

3.747%

20 Year FRM

3.586%

15 Year FRM

3.106%

10 Year FRM

3.085%

15/15 ARM

3.353% (initially)

5/1 ARM

3.042% (initially)

5/5 ARM

3.329% (initially)

At the day that the review was made and mortgage rates were checked, PenFed’s rate were lower or at least at par with national mortgage rates.

 

Why Mortgage Refinance at PENFED

PenFed lets homeowners take control of their mortgage payments by offering a variety of fixed, adjustable and VA programs. Applying for home refinancing is easy with its online application portal. Good mortgage rates and multiple mortgage options makes PenFed one of the better deals when it comes to home refinancing.  

 

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