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> > > Mortgages At-A-Glance Comparison Chart

Mortgages At-A-Glance

Navy Federal mortgage programs are designed to fit your needs and include:

Navy Federal servicing for the life of your loan
No hidden fees
Great rates
Qualify with little money down

Use the following chart to compare features for our mortgage programs.

Loans with FIXED payments for the life of the loan

Loan	May be right for you if...	Benefits
Conventional* Apply Now	You want the stability of fixed monthly payments You expect interest rates to rise You plan to stay in your home for a long time	Fixed payments for the life of the loan 15- or 30-year terms No PMI for most loans Biweekly payments available Jumbo financing available
HomeBuyers Choice* Apply Now	You're a first-time homebuyer You can make a low down payment	Fixed payments for the life of the loan 15- or 30-year terms No PMI for most loans Biweekly payments available Jumbo financing available
Active Duty Choice^®* Apply Now	You're an active duty member	Fixed payments for the life of the loan 30-year term No PMI
Veterans Administration (VA) Apply Now	You're an eligible veteran	Fixed payments for the life of the loan 15- or 30-year terms
Federal Housing Administration (FHA) Apply Now	You're a first-time homebuyer seeking a low down payment¹ You need more flexibility in qualifying	Competitive rates Offers a refinancing option for members with first mortgages from other lenders Maximum loan amounts are determined by location Fixed-rate, 15- and 30-year repayment terms on purchases and refinances 1/1 and 3/1 FHA Adjustable Rate Mortgages
*Loans are subject to an additional funding fee, which may be financed up to a maximum loan-to-value of 95%. Further restrictions may apply in Florida and California. ¹Federal Housing Administration (FHA) loans require a minimum of 3.5% down payment.

Loans with FLEXIBLE payment options

Loan	May be right for you if...	Benefits
Adjustable Rate Mortgage (ARM) Apply Now	You need a larger loan amount but want to keep your payments lower You plan to move or refinance in a certain number of years You expect your income to increase	Lower fixed-rate loan payments for the initial term Initial term of 3-, 5-, or 7-years followed by 1-year interest rate adjustments
ARM Advantage (A special Navy Federal program) Apply Now	You're looking for an alternative to refinancing with a guaranteed rate every two years	Lower fixed-rate loan payments for the initial term of 2 years Interest rate adjusts every 2 years Easy refinance option
7-Year Balloon Apply Now	You want a lower interest rate and monthly payments	Payments based on a 30-year fixed-rate term for 7 years After 7 years, choose to pay balance in full or refinance Jumbo financing available

Loans for additional property needs

Loan	May be right for you if...	Benefits
Second Home Apply Now	The financing is for a weekend or vacation home that you may want to rent out for a portion of the year	15- or 30-year terms No PMI for most loans
Investment Apply Now	The financing is for an investment property	Various repayment terms available After initial term, choose to pay balance in full or refinance
*Loans are subject to an additional funding fee, which may be financed up to a maximum loan-to-value of 95%.