Navy Federal Mortgage Review 2023

Good for: military members and their families looking for low-down-payment mortgages.
By Phil Metzger and  Taylor Getler 

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Our Take


NerdWallet rating 

The bottom line:

Navy Federal Credit Union has a military focus with an online application and easy-to-find rates, but the website does not offer customized rates based on credit score or other factors before you apply.

Navy Federal
Navy Federal: NMLS#399807
National / regional
Min. down payment
Loan types and products
Purchase, Refinance, Jumbo, Fixed, Adjustable, VA, Home Equity

Pros & Cons


  • Offers a wide range of affordable mortgage products, including 0%-down-payment loans, designed for military members.
  • Offers HELOCs and home equity loans.
  • Offers low rates compared with most lenders, according to the latest federal data.


  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.
  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

Compare to Other Lenders

NerdWallet rating 
NerdWallet rating 
Min. credit score


Min. credit score


Min. down payment


Min. down payment


Loan types and products

Purchase, Refinance, Home Equity, Reverse, Jumbo, Fixed, Adjustable, FHA, VA, USDA

Loan types and products

Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, Home Equity

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Full Review

What borrowers say about Navy Federal mortgage

NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. To assess borrowers’ subjective experiences with lenders, NerdWallet has gathered customer satisfaction ratings from J.D. Power and Zillow.

  • Navy Federal Credit Union receives a 760 out of 1,000 in J.D. Power’s 2022 U.S. Mortgage Origination Satisfaction Study. The industry average for origination is 716. (Mortgage origination covers the initial application through closing day.)

  • Navy Federal Credit Union receives a 746 out of 1,000 in J.D. Power’s 2022 U.S. Mortgage Servicer Satisfaction Study. The industry average for servicing is 607. (A mortgage servicer handles loan payments.)

  • Navy Federal Credit Union receives a customer rating of 4.22 out of 5 on Zillow, as of the date of publication. The score reflects more than 115 customer reviews.

Navy Federal mortgage variety of loan types

  • 5 of 5 stars

Members can choose from a wide variety of purchase and refinance loans, including 10- to 30-year fixed-rate loans and adjustable-rate mortgages, VA loans, jumbo loans, and loans for second homes and investment properties.

Navy Federal also has two cornerstone loans geared toward military members and their families: the HomeBuyers Choice Mortgage and the Military Choice Mortgage. Both offer 100% financing without requiring mortgage insurance premiums.

Navy Federal HELOC

The lender also offers a home equity line of credit, or HELOC. These first or second mortgages are a way for homeowners to access existing home equity without refinancing or selling their home. Funds obtained with a second mortgage can be used for expenses such as home improvements, education costs or debt consolidation. Borrowers who get a HELOC through Navy Federal Credit Union can also take advantage of their 20-year draw period, which is twice as long as the standard 10.

Navy Federal mortgage ease of application

  • 5 of 5 stars

Navy Federal has a digital application that allows you to upload documents, connect to your bank accounts to verify assets, get notified when you reach milestones, receive personalized help from credit union representatives and check the status of the loan.

Credit union members can also start an application over the phone or in person at a Navy Federal branch.

You’ll need to be a member of the credit union before you apply. To be eligible, you or a family member must have a qualified connection to the armed forces or Department of Defense. Eligibility requirements are broad, but you’ll have to prove eligibility when you sign up.

Navy Federal mortgage rates and fees

  • 3.5 of 5 stars

  • Navy Federal Credit Union earns 3 of 5 stars for average origination fee.

  • Navy Federal Credit Union earns 4 of 5 stars for average mortgage interest rates.

Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.

Navy Federal mortgage rate transparency

  • 4 of 5 stars

Navy Federal’s website displays sample interest rates for most of the mortgages it offers, along with annual percentage rates. You can also see monthly payment examples for certain products. The website does not offer personalized rate information based on location or credit score.

Alternatives to Navy Federal mortgage

Here are some comparable lenders we review that borrowers can consider.

PenFed is another credit union that receives similar high marks for offering a wide variety of loan types, while Veterans United is among our top picks for VA lenders.

Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.

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More from NerdWallet


NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: variety of loan types (purchase, refinance, fixed and adjustable, for example), ease of application, rates and fees and rate transparency. Among the factors we consider when scoring these categories are options to apply for and track loans online, the level of detail about mortgage rates on lender websites and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These scores generate ratings from 1 star (poor) to 5 stars (excellent).