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PenFed Credit Union Mortgage Review 2026
Last updated on June 23, 2026
Written by
Editor & Content StrategistCo-written by
Contributing WriterWritten by
Editor & Content StrategistCo-written by
Contributing WriterMany or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Why trust NerdWallet
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Our Take
4.0
Home loans overall
NerdWallet rating
The Nerdy headline:
PenFed Credit Union specializes in both conventional and VA lending, but its specialty loan lineup is limited. Getting a custom rate requires sharing contact information, and membership is mandatory — though anyone can join. Most likely to appeal to VA loan borrowers.
Jump to:Full Review
PenFed: NMLS#401822
Min. credit score
620
Min. down payment
3%
Loan types and products
Purchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, VA, FHA
Pros
- Offers fully-underwritten preapproval with the option of a 60-day rate lock.
- Offers closing cost credits with a PenFed-affiliated agent.
- Specializes in both conventional and VA lending.
Cons
- Getting customized mortgage rates requires providing contact information.
- Specialty loan offerings are limited.
- Average combined rates and fees are on the high side, according to recent data.
Lender | Min. credit score | Min. down payment | |
|---|---|---|---|
 Visit Lenderat NBKC at NBKC | 620 | 3% | Visit Lenderat NBKC at NBKC |
 Visit Lenderat New American Funding at New American Funding | N/A | N/A | Visit Lenderat New American Funding at New American Funding |
 Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC | 580 | 3.5% | Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC |
 4.0 Visit Lenderat GO Mortgage at GO Mortgage | 620 | 3% | Visit Lenderat GO Mortgage at GO Mortgage |
 Visit Lenderat Veterans United at Veterans United | 620 | 0% | Visit Lenderat Veterans United at Veterans United |
Full Review
At a glance: PenFed mortgage options
Pentagon Federal Credit Union, better known as PenFed, is a credit union based in Virginia. Loans are available to members nationwide, and credit union membership is open to everyone.
🏠 Common mortgages
• Fixed or adjustable rate loans
• Conventional loans
• FHA loans
• VA loans
• Jumbo loans
• Rate-and-term refinance loans
💵 Home equity
• HELOC
• Cash-out refinance loans
» MORE: Read NerdWallet's review of PenFed HELOCs
PenFed special offers and discounts
A few things stood out in our research that make PenFed worth noting for home buyers:
- Power Buyer Certification with up to 60-day rate lock: PenFed offers preapproval and the ability to lock in your rate for up to 60 days while you shop.
- Closing cost credits with PenFed-affiliated agents: Buyers who use a PenFed Realty–affiliated agent can save on closing costs.
What does PenFed specialize in?
A lender’s experience with your loan type can make a big difference. We looked at the latest federal data to find the types of mortgages PenFed handles most often.
Conventional loans made up the majority PenFed’s mortgage originations, followed by VA and FHA.
How we score PenFed’s home loans
Like to read the fine print? We do, too. Each year, NerdWallet writers and editors review the latest data and research on mortgage lenders, including federal data, and use a consistent method to score them based on what matters most to borrowers.
PenFed earned a 4-star home loans overall rating from NerdWallet. Here’s how that score breaks down across our five weighted subcategories.
Poor
Rates and fees (30%)
Rates and fees determine how much a loan will cost you overall. NerdWallet reviews the latest federal data to score each lender’s average APR spread — a measure that combines interest rates and fees. A higher score means lower typical costs compared to other lenders.
Good
Product accessibility (20%)
We evaluate how widely available a lender’s products are across the U.S. and how accessible they are to different financial profiles. A higher score means broader availability and more flexible requirements. A lower score means fewer options or stricter requirements.
Good
Customer experience (20%)
We evaluate customer experience by testing and reviewing features like the online application, mobile app, and availability of phone or chat support. A higher score means a smoother, more convenient experience and easier access to help. A lower score means more friction or fewer support options.
Average
Loan variety (15%)
We evaluate loan variety based on the range of home loan types a lender offers. A higher score means more options, while a lower score means a more limited selection.
Average
Rate transparency (15%)
We review how clearly lenders share rate information on their websites, including sample rates and tools to estimate personalized rates. A higher score means it’s easy to find clear, comprehensive details and compare rates. A lower score means less information is available, often requiring you to contact the lender.
🤓
NerdWallet’s ratings are objective and well-researched (we have the spreadsheets to prove it). But choosing a mortgage lender isn’t just about a star rating or a score breakdown. It’s also about finding the right lender for your unique situation. So yes: you can learn a lot from how the mortgage Nerds scored PenFed’s home loans. But you’re the expert when it comes to the features of your own best-match mortgage lender.Nerdy Tip
PenFed mortgage reputation and customer experience
NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we pulled the latest customer satisfaction scores from Zillow, and we contacted PenFed’s customer support.
Zillow Mortgage Lender Customer Rating
4.62
out of 5
Average rating as of the date of publication.
Rating reflects only 100 customer reviews.
PenFed mortgage customer service options
Here’s how you can get in touch with PenFed.
Ways to reach PenFed
Physical branches . . . . . .
Phone support . . . . . . . . .
Mobile app . . . . . . . . . . . .
Online chat (bot) . . . . . . .
Online chat (human) . . . .
» MORE: How to apply for a mortgage
🤓 Our Nerds say... Membership required
Dawnielle Robinson-Walker, editor and content strategist
You can reach PenFed by phone or at a branch. Branch locations are spread across about a dozen states, but existing members can also use PenFed’s mobile app. And don’t forget: you’ll need to be a PenFed member to get a loan. Thankfully, membership is simple — just open a savings account online with a $5 deposit.
Alternatives to PenFed mortgage
Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.
If you’re focused on VA loans, Veterans United originates the most VA loans in the U.S.
For borrowers who want the benefits of a military-friendly credit union, Navy Federal and Andrews Federal Credit Union could be good options to explore.
» MORE: Best mortgage lenders
More from NerdWallet
Methodology
NerdWallet rates mortgage lenders based on what matters most to borrowers: rates and fees, product accessibility, customer experience, rate transparency and the range of loan options.
We review more than 40 lenders and score them using a weighted system that prioritizes affordability and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, making loans widely available, clearly displaying rate information and supporting borrowers from application through closing.
We use a mix of lender-provided information, publicly available data and our own research and analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.