Navy Federal Mortgage Calculator

Our calculator provides estimates based on the information you input and current market averages. While it’s highly accurate for estimation purposes, your actual mortgage terms may vary based on your specific credit profile, the property location, and Navy Federal’s current rates and underwriting guidelines.

Yes, Navy Federal Credit Union offers competitive rates to all members, with particularly favorable terms for active duty military, veterans, and their families. VA loans through Navy Federal often feature lower interest rates and more flexible qualification requirements compared to conventional loans.

Navy Federal offers several loan programs with different down payment requirements. Conventional loans typically require at least 5% down, while VA loans for qualified members may require no down payment at all. FHA loans through Navy Federal may require as little as 3.5% down.

Private Mortgage Insurance (PMI) is typically required on conventional loans when your down payment is less than 20%. Navy Federal offers several options for PMI, including monthly premiums and single-premium options. VA loans don’t require PMI but do have a funding fee in most cases.

Absolutely! Simply select the “Refinance” tab in the calculator and input your current loan details along with the new terms you’re considering. The calculator will show your potential new payment and how much you might save each month or over the life of the loan.

Navy Federal considers applicants with a wide range of credit scores, but generally, you’ll need a minimum FICO score of 620 for most loan types. VA loans may have more flexible credit requirements. Higher scores typically qualify for better interest rates.

Navy Federal Credit Union often offers competitive rates, especially for its members. As a not-for-profit institution, they can frequently provide lower rates and fees than traditional banks. However, rates change daily, so it’s always good to compare multiple lenders.

The interest rate is the cost you pay each year to borrow the money, expressed as a percentage. The APR (Annual Percentage Rate) includes the interest rate plus other loan costs like points and fees, giving you a more complete picture of the loan’s cost. Our calculator focuses on the interest rate for payment calculations.

While our calculator focuses on monthly payments, Navy Federal’s closing costs typically range from 2% to 5% of the loan amount. For a more precise estimate, you should request a Loan Estimate from Navy Federal after applying for pre-approval.

Our calculator uses average market rates which are updated regularly. However, for the most current Navy Federal mortgage rates, you should check their official website or contact a loan officer directly, as rates can change daily.