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PenFed Lowers Mortgage Rates Again! 5/5 2.75%, 30 Yr 3.375% (Limited Time Offer)
Today I received an email from PenFed (Pentagon Federal Credit Union) touting new lower mortgage rates: "Limited-Time Offer -- PenFed Lowers Mortgage Rates AGAIN!"
The 5/5 adjustable rate mortgage is now just 2.75%, with no origination fees and PenFed paying closing costs up to $10K. (There's also the 5 year HEL with a 1.99% rate; the HEL rate is not new.)
https://www.penfed.org/55-Adjusta...-Mortgage/
https://www.penfed.org/Home-Equit...-Overview/
The 30-year fixed rate mortgage is now just 3.375%, with no origination fees (per fine print on the application page).
https://www.penfed.org/30-Year-Fixed-Mortgage/
PenFed used to charge a 1% origination fee on all fixed rate mortgages, but right now the 30-year fixed rate mortgage seems to be exempt!
There are many ways to join PenFed; for example, you can make a donation to the National Military Family Association. The PenFed website has further details: https://www.penfed.org/
The 5/5 adjustable rate mortgage is now just 2.75%, with no origination fees and PenFed paying closing costs up to $10K. (There's also the 5 year HEL with a 1.99% rate; the HEL rate is not new.)
https://www.penfed.org/55-Adjusta...-Mortgage/
https://www.penfed.org/Home-Equit...-Overview/
The 30-year fixed rate mortgage is now just 3.375%, with no origination fees (per fine print on the application page).
https://www.penfed.org/30-Year-Fixed-Mortgage/
PenFed used to charge a 1% origination fee on all fixed rate mortgages, but right now the 30-year fixed rate mortgage seems to be exempt!
There are many ways to join PenFed; for example, you can make a donation to the National Military Family Association. The PenFed website has further details: https://www.penfed.org/
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Community Wiki
Last Edited by rdmustang1
May 1, 2013
at
08:12 AM
EVEN BETTER! PenFed 5/5 down to 2.5% with 0 points
...
A good site to follow daily rate movements and lender intraday price movements: http://www.mortgagenew
...
PenFed Calculator
https://penfed.mortgage
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...
A good site to follow daily rate movements and lender intraday price movements: http://www.mortgagenew
...
PenFed Calculator
https://penfed.mortgage
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.
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Do you think I would qualify for this Penfed? I know little about it other than seeing it listed on creditboard forums... but Im tired of renting... for the money I spend a month, I WANT SOMETHING TO SHOW FOR IT!
Thanks,
Here's the direct line and extension to their loan officers:
Loan Officers Direct:
800-970-7766 ext 1717
Mortgages to be paid with this loan $XXX,000.00
Pentagon Federal Credit Union's origination charge $65.00
Your charge for this interest rate $0.00
Required services we select $379.36
Appraisal Fee $300.00
Credit Report $13.36
Flood Certification Fee $7.00
Tax Service Fee $59.00
Title services and lender's title insurance $1,385.50
Government recording charges $165.00
Transfer taxes $1,457.50
Initial escrow deposit $2,041.67
Your new loan amount ($XXX,000.00)
Estimated Cash Required at Closing $5,494.03
Need to confirm that there's no origination fee Penfed usually charged in the past.
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Mortgages to be paid with this loan $XXX,000.00
Pentagon Federal Credit Union's origination charge $65.00
Your charge for this interest rate $0.00
Required services we select $379.36
Appraisal Fee $300.00
Credit Report $13.36
Flood Certification Fee $7.00
Tax Service Fee $59.00
Title services and lender's title insurance $1,385.50
Government recording charges $165.00
Transfer taxes $1,457.50
Initial escrow deposit $2,041.67
Your new loan amount ($XXX,000.00)
Estimated Cash Required at Closing $5,494.03
Need to confirm that there's no origination fee Penfed usually charged in the past.
My quotes on closing costs came in substantially lower than yours.
About $5700 for 15 yr and $2700 for 30 yr fixed for a 280K loan. I have 30% equity in my home.
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Anyone have any idea how much title insurance would cost? I would be refinancing a little less than $70k. Any recommendations for where I should get some quotes? I don't remember where I got mine when I originally bought the house (or how much it cost).