Pentagon Federal Credit Union; Alyssa Powell/Business Insider
Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards.
Overall lender rating
| Feature | Insider rating (out of 5) |
| Loan types | 3 |
| Affordability | 3.5 |
| Customer satisfaction | 3.5 |
| Trustworthiness | 5 |
| Total | 3.75 |
Pros and cons
| Pros | Cons |
|
|
Pentagon Federal Credit Union mortgage rates
Pentagon Federal Credit Union doesn’t have general mortgage rates information on its website. Other lenders may provide sample mortgage rates so you can get a better understanding of what the current market is like.
If you’re interested in seeing a personalized rate for a mortgage, PenFed has you fill out a form.
Pentagon Federal Credit Union vs Navy Federal mortgages
|
PenFed Credit Union |
Navy Federal Credit Union |
|
Types of home loans Conforming, jumbo, VA, HELOC |
Types of home loans Conforming, jumbo, VA |
|
Standout feature Up to $2,500 in lender credit |
Standout feature Alternative credit data |
PenFed and Navy Federal Credit Union are both solid options if you want a lender that emphasizes services and products for military members or families.
You may prefer Navy Federal if you have a poor or low credit score. You can provide alternative credit data, like utility bills, when you apply for a home loan. At PenFed, you’ll have to show your credit score if you apply.
If you have a decent credit score, PenFed offers $500 to $2,500 in lender credit for all members, depending on how much you borrow.
Pentagon Federal Credit Union vs. Alliant mortgages
|
PenFed Credit Union |
Alliant Credit Union |
|
Types of home loans Conforming, jumbo, VA, HELOC |
Types of home loans Conforming, jumbo, HELOC |
|
Standout feature Up to $2,500 in lender credit |
Standout feature Alliant Home Rewards program |
| Get Started |
PenFed is the clear option if you want to apply for a VA mortgage or refinance one. Alliant Credit Union doesn’t deal with VA mortgage. You also may be eligible for up to $2,500 in lender credit when you apply for a VA mortgage through PenFed.
You may like Alliant Credit Union if the Alliant Home Rewards program sounds appealing. Through Alliant Home Rewards, you can get a cash-back reward of up to $6,500. You’ll be partnered with a real estate agent that will help you find a home, and after the closing process, you’ll be eligible for the reward. The amount will depend on the home purchase price.
There are limits in reward values in some states, and you can’t get a reward if you buy a home in Arkansas, Iowa, Louisiana, or Missouri.
How Pentagon Federal Credit Union mortgages work
PenFed is featured on our best banks and credit unions for military members and their families guide. You don’t have to be affiliated with the military to join, though — anyone is eligible for membership as long as you fill out a form and open a savings account with a $5 minimum deposit.
PenFed has about 50 branch locations in 13 US states, Washington, DC, and on 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:
- conforming mortgages
- jumbo mortgages
- fixed-rate mortgages
- adjustable-rate mortgages
- VA mortgages
- HELOC
There are also refinancing options for conventional and VA mortgages.
The credit union doesn’t have any FHA, USDA, new construction, or reverse mortgage options. You’ll also need to have a good credit score to apply for a loan. PenFed doesn’t accept any alternative forms of credit.
Customer service about mortgage products is available through telephone. If you have general questions about mortgages, you can call Monday through Friday, from 8 a.m. to 8 p.m. ET, Saturdays from 8 a.m. to 11 p.m. ET, or Sundays from 9 a.m. to 5:30 p.m. ET.
If you’re applying for your first or second mortgage and have specific questions about the applications or process, you’ll have to call another number that has availability Monday through Friday, from 9 a.m. to 10 p.m. ET, or Saturday, from 9 a.m. to 6 p.m. ET.
Is Pentagon Federal Credit Union trustworthy?
PenFed doesn’t have any recent public controversies. The financial institution has also received an A+ rating from the Better Business Bureau. BBB ratings indicate whether a company responds efficiently to customers’ 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 whether a lender is a good fit, talk to friends or family who have worked with the lender. You can also read online customer reviews.
Pentagon Federal Credit Union mortgage FAQ
What credit score do PenFed mortgages use?
You’ll need a minimum 650 credit score to get a conforming mortgage with PenFed.
Can anyone use Pentagon Federal Credit Union?
You’ll have to join the credit union to get a mortgage, but it’s easy to become a member — you don’t need to be affiliated with the military. To join, open a
Mortgage and refinance rates by state
Check the latest rates in your state at the links below.
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming
Powered by WPeMatico
