Before you choose a real estate agent – call PenFed first. We can offer you much more than just a mortgage.
When you use a network real estate agent and preferred title providers to buy your home using certain types of mortgages, you could save up to $10,0001 in closing costs or thousands of dollars on origination fees.
When you use Real Estate Rewards for an eligible adjustable rate mortgage, PenFed pays many closing costs up to $10,0001 and waives the origination fee (if applicable). For eligible fixed-rate mortgages, you pay no origination fee2 – which could save you thousands.
MONTH FUNDING January 2016
MORTGAGE TYPE Adjustable-Rate
LOAN AMOUNT $296,000.00
MORTGAGE TYPE Fixed-Rate
LOAN AMOUNT $268,000.00
To be eligible for these promotions you must complete the Real Estate Rewards Contact form or contact us at 1-800-556-8077 to be assigned to a network real estate agent through our national referral network. You are not required to use the services of any PenFed affiliate, however discounts and credits may not apply.
See which PenFed Products qualify for Real Estate Rewards.
The fee that a mortgage lender charges to create a mortgage secured by real property.
The total of all the items that must be paid at closing related to your new mortgage.
An adjustable rate mortgage, commonly referred to as an ARM, is a loan type that allows the lender to adjust the interest rate during the term of the loan. Generally, these changes are determined by a margin and an index so that the interest rate changes, up or down, are based on market conditions at the time of the change. Most often these interest rate changes are limited by a rate change cap and a lifetime cap. If you apply for an adjustable rate mortgage, the lender is required to provide you with an ARM Program Disclosure which spells out the terms of the loan.
A company that specializes in examining titles to real estate and issuing title insurance.
Promotions and interest rates subject to change without notice. Only purchase transactions are eligible for promotions. To receive any advertised product or service, you must become a member of PenFed.
1Available when using a network real estate agent and our preferred title providers. For New York and Texas properties borrowers may use any title company to obtain the closing cost credit. Should this loan be paid off within 36 months, the member must repay PenFed a prorated amount of the total closing costs paid by PenFed except those paid to PenFed affiliated title companies. PenFed will pay your closing costs up to $10,000 including but not limited to: appraisal fee, tax service fee, CLO access fee, title fees, transfer tax fees, credit report fee, flood certification fee, recording fee, survey if required and work verification fee. This does not include: escrow, interest, homeowner’s insurance, lender’s title insurance, or owner’s title insurance, the cost for a structural engineering or similar report, should the appraiser request one, or points to buy a rate down or applied to a loan. Promotion available for the purchase of a primary residence or 2nd home only. Other restrictions may apply. See contract addendum for details.
2 Purchase only with at least a 15% down payment. The application of additional loan level pricing adjustments will be determined by various loan attributes to include but not limited to the loan-to-value (LTV) ratio, credit score, transaction type, property type, product type, occupancy, and subordinate financing. Loan level pricing adjustment or points to buy a rate down are the responsibility of the borrower and not covered in promotions.
This is to give you notice that PenFed has a business relationship with PenFed Realty, LLC. PenFed Realty, LLC is wholly owned by PenFed and this referral may provide PenFed a financial or other benefit.
Set forth below is the estimated charge or range of charges for the settlement services listed. You are NOT required to use the listed provider(s) as a condition for the purchase, sale, or refinance of the subject property. THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES.
Provider/Settlement ServicePenFed Realty, LLC/Real Estate Commission
Charge/Range of ChargesCharges may range from 1% to 6% of the sales price plus $295.
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Prudential PenFed Realty is a wholly owned subsidiary of PenFed.
If you are ready to open a new IRA account, please print, complete, and return the IRA application:
IRA Application Booklet
If you have a PenFed IRA and would like to open an IRA certificate, please call a member service representative at 1-800-247-5626.
If you are ready to open a new Coverdell Education Savings Account (ESA), please print, complete, and return the following application:
Coverdell ESA Application
If you have a Coverdell ESA with PenFed and would like to open an ESA Certificate, please call a member service representative at 1-800-247-5626.
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