3.776% APR Pentagon Federal Credit Union Mortgage Rates
Pentagon Federal Credit Union is offering really low rates on their mortgage loans.
They are currently offering a 3.776% APR Rate on a 5/1 year ARM. They are also offering a rate of 3.93% on a 5/5 ARM JUMBO mortgage loan.
I’m not sure if cash out mortgage are hit with points or higher rates. I would imagine as with most other lenders, loan-to-values under 60% will not have a cash out hit to the rate or fees.
Their 30 year fixed rates seem reasonable at 5% with 1 point (all of their 30 year fixed loans require a 1 point origination). However, I think some brokers are able to offer deals better than this. Be careful in selecting your broker just the same as you would in choosing a bank.
Pentagon also claims to pay for most lender fees. Additionally, they offer a 90 day lock on some mortgages free of charge. All Super Jumbo loans in Arizona, California, Florida, or Nevada have a max loan-to-value of 70%. All other states have a maximum loan-to-value of 75%. Most banks will have this provision to protect themselves from further deteriorating values in certain regions.
There is however an upfront $65 application fee which seems to be well worth it.
See more of Pentagon Federal Credit Union Mortgage Rates…
Keep in mind:
Pentagon does not finance co-op, agricultural, or business loans. Investment properties or refinancing of existing Pentagon Federal mortgages are not offered low lender fees. Pentagon Federal will pay for your credit report, flood search, tax set up, and appraisal fees. The fact that they pay for your appraisal fees is unusual and a bonus. Pentagon Federal Credit Union will not pay for third party fees if your loan is withdrawn, does not close, or if the purchase contract is terminated. These fees will then be your responsibility.
Probably a good idea for you to just call them and ask for a representative. Pentagon Federal Credit Union seems to be affiliated with the US government somehow. Military receive free account, as do family members of military. If you are not either, you can easily become a member by making a donation to some non-profit for a small amount of money (like $20 or $30). Just call 1-800-247-5626. They are very helpful.
Visit Cash Out for the lowest mortgage rates available.