How is Navy Federal with home loans?

Question

I've heard about NFCU rates fluctuating with the market.  Is this a problem and should it be a deal breaker?

Hamp Lee III · Answer

Navy Federal does have competitive rates. Make sure you shop around when you’re ready to buy.

Doug Spence · Answer

@Richard Hawley I have not heard good things about NFCU on the home loan side. I would definitely shop around. When I bought my primary with a VA loan two years ago, the lender I used was able to close in 17 days... I guarantee NFCU can't do that. The 17 day close made our offers more appealing to sellers!

Thomas Nordberg · Answer

I have used Navy Fed Personally, and had several clients use them as well. They, in my experience, have decently competitive rates on VA loans, as well as some 0 down portfolio loans (in the event you are running up on the max of your VA entitlement).

The main complaint I have heard is that their closing / underwriting times are long and the underwriters often ask for docs at the last minute. They have been pretty easy to work with in my experience though, and my closings are usually able to close in the 30 day range.

Keith Morrison · Answer

NFCU has a good loan product and allow to lock the rate and even change it if it goes lower before closing.

I had a VA loan with them.

But all lenders rates change daily with the market.

Kyle Tusing · Answer

Are you speaking in terms of the rate changing in general or is it changing over the time of the loan? If it is over the time of the loan that is an ARM which is different from normal conventional loans. If the overall rate is just changing with the market that is how all rates work.