Pentagon Federal Credit Union Mortgage Review 2021

The minimum credit score and down payment are for compliant mortgages.

Overall rating of the lender

Advantages and disadvantages

Pentagon Federal Credit Union Mortgage Rates

Pentagon Federal Credit Union does not have general mortgage rate information on its website. Other lenders can provide mortgage rate examples so you can better understand what the current market looks like.

If you would like to see a personalized rate for a mortgage, PenFed asks you to fill out a form.

How Pentagon Federal Credit Union Compares To Other Mortgage Lenders

We compared the Pentagon Federal Credit Union to two other

credit unions
who provide mortgage products: Navy Federal Credit Union and Alliant Credit Union.

Pentagon Federal Credit Union v Navy Federal Credit Union

PenFed and Navy Federal Credit Union are both solid options if you want a lender that emphasizes services and products for military or families.

You may prefer Navy Federal Credit Union if your credit score is low or low. You can provide alternative credit data, such as utility bills, when you apply for a home loan. At PenFed, you will need to show your credit score if you apply.

If you have a decent credit score, PenFed offers a lender credit of $ 500 to $ 2,500 to all members, depending on how much you borrow.

Pentagon Federal Credit Union vs Alliant Credit Union

PenFed is the ideal solution if you want to apply for a VA loan or refinance one. Alliant Credit Union does not process VA loans. You may also be eligible for lender credit of up to $ 2,500 when you apply for a VA mortgage through PenFed.

You may like Alliant Credit Union if the Alliant Home Rewards Program looks attractive. With Alliant Home Rewards, you can earn up to $ 6,500 in cash back. You will be matched with a real estate agent who will help you find a home, and after the closing process you will be eligible for the reward. The amount will depend on the purchase price of the house. There are limits on the value of rewards in some states, and you cannot get a reward if you buy a home in Arkansas, Iowa, Louisiana, or Missouri.

How the Pentagon Federal Credit Union Works

PenFed is featured in our guide to the best banks and credit unions for military personnel and their families. You don’t need to be affiliated with the military to sign up, however – everyone is eligible for membership as long as you fill out a form and open a savings account with a minimum deposit of $ 5.

PenFed has approximately 50 branches in 13 US states, Washington, DC, and military bases in Guam, Puerto Rico, and Japan. You can find a PenFed credit union in the following states:

  • California
  • Florida
  • Georgia
  • Hawaii
  • Maryland
  • Nebraska
  • New Jersey
  • New Mexico
  • new York
  • North Carolina
  • Pennsylvania
  • Texas
  • Virginia

PenFed offers a variety of home loans, including:

There is also refinancing options for conventional and VA mortgages.

The credit union has no FHA, USDA, new construction, or reverse mortgage options. You will also need to have a good credit rating to apply for a loan. PenFed does not accept any alternative form of credit.

Customer service for mortgage products is available by phone. If you have general mortgage questions, you can call Monday to Friday 8 a.m. to 8 p.m. ET, Saturday 8 a.m. to 11 p.m. ET, or Sunday 9 a.m. to 5 a.m. 30 p.m. ET.

If you’re applying for your first or second mortgage and have specific questions about the applications or the process, you’ll need to call another number available Monday through Friday, 9 a.m. to 10 p.m. ET, or Saturday. , 9 a.m. to 6 p.m. ET.

Can the Pentagon Federal Credit Union be trusted?

PenFed has no recent public controversies. The financial institution also received a Note A + from the Better Business Bureau. BBB ratings indicate whether a company responds effectively to customer issues and has transparent business practices.

A good BBB rating doesn’t necessarily guarantee that your experience with a lender will be great. If you want to see if a lender is right for you, talk to friends or family members who have worked with the lender. You can also read customer reviews online.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Rhode Island
Caroline from the south
South Dakota
Washington DC
West Virginia

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