Navy Federal Credit Union Mortgage Review 2025

Navy Federal Credit Union overview

Navy Federal Credit Union is a credit union and full-service lender for military members, veterans and their families. It was established in 1933 and operates as a member-owned credit union with 14 million members serving all 50 U.S. states. 

Navy Federal originated more than 80,000 mortgages in 2024, ranking it fifth nationally, according to federal data. In addition to mortgages, Navy Federal provides loan servicing, title services and real estate services. It also offers banking products, credit cards, auto loans, student loans and personal loans. 

Pros and cons of Navy Federal Credit Union

How Bankrate scored Navy Federal Credit Union

Affordability: 4.8/5

Navy Federal Credit Union’s combination of attractive rates and low fees puts it at a high 4.8 out of 5 stars for affordability.

• Interest rates: Overall, Navy Federal Credit Union’s mortgage rates are competitive compared to Bankrate’s averages.
• Down payment: Navy Federal specializes in VA loans, which don’t require a down payment in most cases.
• Closing costs: Navy Federal typically charges a 1 percent origination fee, in line with other lenders. It doesn’t charge processing or underwriting fees, however, and there’s no cost to relock your rate on purchases or refinances.

Availability: 4.8/5

Navy Federal Credit Union scores 4.8 out of 5 stars for availability, thanks in part to a global presence and a range of loan options. The catch, of course: You can only become a member if you or a family member has served.

• Home loans offered: Navy Federal Credit Union provides conventional loans as well as VA loans, Military Choice loans and Homebuyers Choice loans, along with options to refinance your existing mortgage. The credit union also offers investor loans.
• Footprint: Navy Federal operates in all U.S. states and abroad, with more than 360 branches worldwide.
• Where to find: You can apply for a mortgage with Navy Federal Credit Union online, by phone or in person at a branch location.

Borrower experience: 4.8/5

Navy Federal Credit Union has a good reputation in terms of customer service, but it doesn’t make it as easy as some other lenders do to compare mortgage rates online. It scores a 4.8 out of 5 stars for borrower experience.

• Preapproval and application process: The origination process with Navy Federal begins with a preapproval, which you can obtain online in mere seconds, if qualified. In some cases, you can get preapproved instantly through the credit union’s home loan management platform, HomeSquad. Generally, though, you can expect a response from a loan officer within six to 10 days after applying. You can communicate with the lender through secure messaging online, via chat or through social media. You can also sign certain loan documents using e-sign, and pay your mortgage through the credit union’s app. For a purchase, closings typically take 30 days. Refinance closings can take 30 to 45 days.
• Transparency: Navy Federal’s website displays informational mortgage rates only. To learn your specific rate and any fees, you’ll need to contact the credit union directly.
• Customer service: You can reach Navy Federal’s customer service team at 888-842-6328, Monday through Friday from 9 a.m. to 6 p.m. ET. The credit union also has an online chat option available 24/7.

Navy Federal Credit Union reputation

Navy Federal Credit Union has been in business for 90 years and had an “excellent” rating from Trustpilot as of this review. According to J.D. Power, Navy Federal had an above average score for customer satisfaction in 2024.

Navy Federal Credit Union special offers

Rate-match guarantee

Navy Federal offers a rate-match guarantee: If you find a better rate with another lender, the credit union will match it or give you $1,000. To qualify for the guarantee, you’ll need to lock in your rate with Navy Federal before you make the rate-match request, then submit the other lender’s loan estimate and rate-lock disclosure within three calendar days of locking with Navy Federal. If the credit union can’t match the competitor’s rate, you’ll need to provide Navy Federal with your signed closing disclosure from the other lender within 30 calendar days of your closing.

Refinancing with Navy Federal Credit Union

Navy Federal Credit Union offers both rate-and-term and cash-out refinancing options for conventional loans, plus the VA Interest Rate Reduction Refinance Loan (IRRRL, or streamline refinance). It tends to offer competitive refi rates, especially VA rates.

Along with these more standard offerings, it has some refinance options that set it apart:

• Homebuyers Choice refinance: This option allows newer homeowners to do a cash-out refinance for up to 97 percent loan-to-value (LTV).
• 5/5 ARM: This option is an adjustable-rate mortgage, or ARM, that starts with a low introductory rate for five years, then adjusts once every five years after that. You can refinance into this product to take advantage of the low initial rate.

How to apply for a mortgage with Navy Federal Credit Union

You can apply for a mortgage with Navy Federal Credit Union online, by phone at 877-573-2324 or in person at a branch location.

• Methodology

  To determine a mortgage lender's Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender's products and services. To assign our ratings, we assessed each mortgage lender across three core areas:

  • Affordability: Annual percentage rate (APR) - 80%; assistance for first-time homebuyers - 10%; down payment - 10%

  • Availability: Loan products - 50%; licensing - 40%; credit score - 10%

  • Borrower experience: Rate transparency - 35%; customer service - 35%; convenience - 20%; rate locks - 10%; reputation (if applicable)

  Learn more about our methodology.