Pentagon Federal Credit Union - to refinance

etheran_IHB

etheran_IHB

New member
Has anyone use the Pentagon Federal Credit Union to refinance? Also has anyone tried to become a member by paying a fee?



If anyone has, please let me know.



What are the major criterias? I have a jumbo loan with probably 75% LTV.



Thanks.
 
I'm a PenFed member through NMFA. It was $20 to join NMFA and you do not need to renew your membership with NMFA to stay a credit union member with PenFed.



PenFed is a great credit union with some great CD, auto, and mortgage rates. More recently though, they seemed to have added some rather steep origination fees, so it may not be as good a deal as it used to. I?ve also heard that they are pretty overloaded right now and take a very long time to process your application. They do have excellent customer service.



You can get some good threads about them at the <a href="http://www.bogleheads.org/forum/search.php">Boglehead</a> forum - just search for "PenFed".



Hope that helps!
 
There are a few threads here regarding PenFed. Here's one:



<a href="http://www.irvinehousingblog.com/forums/viewthread/4169/">http://www.irvinehousingblog.com/forums/viewthread/4169/</a>



Seems to be mostly positive remarks.
 
I got a HELOC at Penfed last year; their rate is prime minus 0.5% - hard pressed to find any HELOC below prime.



Since the Fed made the fed funds rate 0%, that made the prime rate rock bottom. My HELOC is 2.5%.



I looked into refinancing my primary thru penfed but their super-conforming rates + 1 point are not that enticing.
 
[quote author="ABC123" date=1253975293][quote author="kursky11" date=1253973577]<blockquote>PenFed is a great credit union with some great CD, auto, and mortgage rates</blockquote>


I agree that's why I want to join PenFed. What office should I go?



kursky11</blockquote>


Je ne parle pas fran?ais.



Am I going to get a virus for clicking on that website? There hasn't been any more dossiers since January. What's a dossier?</blockquote>


Dude, do me a favor, don't quote spammers... especially when they have links. Thanks.
 
$417k to $729k High Cost Area Jumbo Conforming rates are usually .125% off of sub $417k rates. Anything over $729k is relatively higher. My company has a terrible 30 fixed over $729k. BofA right now has been very, very strong on their over $729k jumbo 30 fixed. Thats what happens when you get a boat load of TARP funds. Can't vouch for PenFed, but if your loan is sub $729k, everyone will have a competitive rate.



My .02c



Soylent Green Is People.
 
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