Several months ago I asked if PenFed had a low down payment product like 1 or 3% and someone on this board told me the did NOT have any FHA/1st time homeowner load so I skippedcalling them. Now I came to find out they DO and wasted my time joining another CU... all for nothing
lesson - don't believe everything you read.
Could you please send me the link with the info about ?
I tried to apply for a pre-aproval online, but the minimum as a down payment says is 5%, I tried to enter less and I get this message " No Products Available"
I stand corrected. I called and they re verified the info... The low or now DP is for VA loans...not conventional.
The only one that has this is NFCU which I am in the process of applying for.
That ones rate and APR are a little higher but NO PMI!
Also you can refi into a traditional mortgage when the match works out.....which I would do into a 15 otherwise there would be very little
Unfortunately I found out how to join too late to buy the house I'm in.
The only better mortgage program would be a NACA mortgage would is talked about extensively on here.
Alas....I can't do that one in time either. Hoping someone else can.
Thanks for the info.
I wanted to compare Penfed products to NWFCU, and apparently NWFCU is better.
NWFCU offers 3% conventional and 0% down for first time home buyers and It was easy to join them.