Navy Federal Credit Union · Credit union
Navy Federal Credit Union
Review published mortgage options and requirements, then request a personalized quote from the lender.
Key borrower, credit, property-use and reserve requirements have not been verified for this selection.
Availability: Navy Federal membership required. All member business and origination materials provided in English only. All loans subject to approval.
Our take: Pros & Cons
What we like
- Homebuyers Choice offers purchase loans with no down payment in most states.
- Homebuyers Choice does not require private mortgage insurance.
- Homebuyers Choice has fixed principal and interest payments.
What to consider
- All loans are subject to approval; one active Choice loan is permitted per member.
- Choice loans require a 1% origination fee and 1.75% funding fee, with published rate-increase or down-payment waiver options.
- LTV restrictions apply to refinance and non-primary residence loans.
AI-generated lender-level assessment based on published information. Not a verified assessment of Homebuyers Choice Loan; confirm program-specific conditions below.
Additional lender considerations
- Advertised rates are as low as and depend on creditworthiness, LTV, occupancy, property type and purpose.
Newcomer requirements
Homebuyers Choice Loan
Fit not assessed · Check fit
Verified published requirements for this program. Rate-example assumptions are separate and do not establish eligibility or approval.
- Minimum down payment
- Purchase loans require no down payment in most States. LTV restrictions apply to refinance and non-primary residence loans.
View full lender requirements
- Minimum down payment
- Purchase loans require no down payment in most States. LTV restrictions apply to refinance and non-primary residence loans.
- Other conditions
- All Choice loans require a 1% origination fee, which may be waived for a 0.25% increase in the interest rate. All Choice loans are subject to a funding fee of 1.75% of the loan amount, which may be financed up to the maximum allowed loan amount. A funding fee may be waived for a 0.375% increase in the interest rate or with a 3% down payment. Purchase loans require no down payment in most States. LTV restrictions apply to refinance and non-primary residence loans. One active Choice loan is permitted per member. All loans subject to approval.
Questions to confirm with the lender (15)
These requirements have not been verified for this program:
- SSN
- ITIN
- U.S. credit history
- Foreign credit history
- No credit history
- Residency / visa
- Minimum credit score
- Income documentation
- Employment documentation
- Foreign income
- Foreign assets
- Reserves
- State restrictions
- Property restrictions
- Occupancy
Requirements last reviewed: Oct 27, 2026 · Official requirements source
Rates and costs
Homebuyers Choice Loan
Rates are available on request
No reviewed advertised rate example is linked to this program.
How to apply
Homebuyers Choice Loan
Document requirements are not confirmed. Ask the lender for its program-specific checklist.
- Confirm the program's identity, residency, credit and property requirements with the lender.
- Use the official application channel to request pricing for your actual scenario.
- Review the lender's written Loan Estimate, including costs and cash to close.
Published eligibility and availability do not guarantee approval. Confirm membership, relationship, property and occupancy conditions with the lender.
Sources and methodology
About this lender
Navy Federal mortgage options include Homebuyers Choice financing for eligible members. The Homebuyers Choice program offers no-down-payment options in most states, subject to approval, fees and occupancy-specific LTV restrictions.
Legal lender: Navy Federal Credit Union
Lending channel: Direct lending
Provider type: Credit union
Lending channels: Direct lending. Origination status: Not stated.
NMLS identifier: 399807
More lender directory information
Direct application information ↗
Navy Federal membership required. All member business and origination materials provided in English only. All loans subject to approval.
Directory verified: 2026-10-27 UTC · Official directory source ↗
Official mortgage terms · Profile reviewed: Oct 27, 2026
- Official lender source · Last checked Oct 27, 2026
What do APR, points, LTV and reserves mean?
- APR
- An annualized borrowing-cost measure that includes interest and certain loan charges. Read it alongside the interest rate and fees.
- Discount points
- An upfront charge expressed as a percentage of the loan amount. Compare the quoted interest rate and the points together.
- LTV
- Loan-to-value: the loan amount relative to the property's value.
- Reserves
- Assets the lender may require you to retain after closing. Requirements differ by program.