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As of:      20 November 2009 01:01 AM ET

Fixed Rate Loans
For primary residences and second homes only. Interest only payment options are available on 30 year products only. Bi-weekly options are available on Conforming and Jumbo loans. Rates quoted below require a 1% loan origination fee. The origination fee may be waived for a 0.25% increase in the interest rate. For loans greater than $417,000, mortgage insurance is required if the LTV exceeds 80%.

Product Interest Rates as
low as		 Discount
Points		 APR as
low as		 Interest Rates as
low as		 Discount
Points		 APR as
low as
30Yr Conforming
4.625%
1.125
4.811%
4.750%
0.250
4.859%
30Yr Super Conforming
4.750%
1.125
4.937%
4.875%
0.250
4.985%
30Yr Jumbo
4.750%
1.125
4.937%
4.875%
0.250
4.985%
15Yr Conforming
4.125%
0.875
4.406%
4.250%
0.250
4.437%
15Yr Super Conforming
4.250%
0.875
4.532%
4.375%
0.250
4.563%
15Yr Jumbo
4.250%
0.875
4.532%
4.375%
0.250
4.563%

Government Loans (Veterans Administration and Federal Housing Administration)
Rates quoted below require a 1.00% origination fee. The origination fee may be waived for a 0.25% increase in the interest rate. Maximum loan amount for VA loans is $1,094,625 and for FHA loans is $729,750. All VA loans are subject to a funding fee of up to 3.30% of the loan amount. FHA loans require a minimum of 3.5% downpayment. Mortgage insurance is required for all FHA loans.

Product Interest Rates as
low as		 Discount
Points		 APR as
low as		 Interest Rates as
low as		 Discount
Points		 APR as
low as
30Yr VA
4.625%
1.125
4.991%
4.750%
0.250
5.038%
30Yr FHA
4.625%
1.125
5.398%
4.750%
0.250
5.443%
15Yr VA
4.125%
0.875
4.715%
4.250%
0.250
4.745%
15Yr FHA
4.125%
0.875
4.838%
4.250%
0.250
4.867%
1Yr FHA ARM
5.125%
0.375
3.273%
5.250%
0.000
3.266%
3Yr FHA ARM
5.875%
0.375
4.069%
6.000%
0.000
4.083%


Adjustable Rate & Balloon Loans
For primary residences and second homes only. Adjustable rate mortgages are variable and your annual percentage rate may increase after the original fixed rate period. The 2yr ARM is available for primary residences only. Other ARM options are available, including interest only payment options, except for the 2yr ARM. The 2yr ARM requires a 0.75% loan origination fee which may be waived for a 0.25% increase in the interest rate. All other rates quoted below require a 1% loan origination fee which may be waived for a 0.25% increase in the interest rate. For all ARM loans, except 2yr ARM, regardless of loan amount, and for balloon loans greater than $417,000, mortgage insurance is required if the LTV exceeds 80%. Payments on all ARMs and Balloons are based on a 30-year amortization.

Product Interest Rates as
low as		 Discount
Points		 APR as
low as		 Interest Rates as
low as		 Discount
Points		 APR as
low as
2Yr ARM
4.625%
1.125
3.754%
4.750%
0.250
3.686%
3Yr ARM
4.500%
1.125
4.083%
4.625%
0.250
4.024%
3Yr Jumbo ARM
4.875%
1.125
3.926%
5.000%
0.250
3.867%
5Yr ARM
4.750%
1.125
4.344%
4.875%
0.250
4.302%
5Yr Jumbo ARM
5.125%
1.125
4.218%
5.250%
0.250
4.178%
7Yr Balloon (w/ REFI option)
5.500%
0.750
5.809%
5.625%
0.250
5.846%
7Yr Jumbo Balloon (w/REFI option)
5.875%
0.750
6.191%
6.000%
0.250
6.226%

Low Down Payment Loans
For primary residences only. All Conforming and Jumbo HomeBuyers Choice rates quoted below require a 1.00% loan origination fee, except for Active Duty Choice that requires a 0.75% origination fee. The origination fee may be waived for a 0.25% increase in the interest rate. All Conforming and Jumbo HomeBuyers Choice loans are subject to a funding fee of up to 1.75% of the loan amount. Active Duty Choice loans are subject to a funding fee of 1.25% for purchases. HomeBuyers Choice loans are eligible for Limited Cash Out only; cash back may not exceed 2% of the loan amount or $2,000. HomeBuyers Choice and Active Duty Choice loans are not eligible for streamline refinances.
Product Interest Rates as
low as		 Discount
Points		 APR as
low as		 Interest Rates as
low as		 Discount
Points		 APR as
low as
30Yr Active Duty Choice
6.250%
0.750
6.516%
6.375%
0.250
6.594%
30Yr HomeBuyers Choice
6.250%
0.750
6.591%
6.375%
0.250
6.668%
30Yr Jumbo HomeBuyers Choice
6.875%
0.750
7.229%
7.000%
0.250
7.305%
15Yr HomeBuyers Choice
6.000%
0.625
6.540%
6.125%
0.250
6.606%
15Yr Jumbo HomeBuyers Choice
6.625%
0.625
7.175%
6.750%
0.250
7.240%

INTEREST RATES SUBJECT TO CHANGE-- THIS IS NOT A COMMITMENT
Navy Federal Credit Union is pledged to the letter and spirit of U.S. policy for the achievement of Equal Housing Opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining home financing because of race, color, religion, sex, physical impairment, family status, age or national origin.


INFORMATION APPLICABLE TO ALL MORTGAGE LOANS

Rates and terms are based on an evaluation of each member's credit history, loan-to-value (LTV), occupancy, payment type, loan amount and loan purpose, so your rate and terms may differ. All loans are subject to credit approval. Questions? Please contact Navy Federal at 1-888-842-NFCU (6328) or visit www.navyfederal.org

Navy Federal also offers home loans for investment properties. When reviewing quotes from other lenders, make certain you obtain the discount points and any origination fees for comparison with Navy Federal's rates. APRs reflect downpayment/equity, unless otherwise noted. Rates quoted above are based on 80% LTV. In California and Florida, the maximum LTV is 90% for all loans except Government loans.

Conforming Loans: Loan amounts up to $417,000. In AK and HI, the Conforming loan limit is $625,500. Super conforming Loans: Loan amounts greater than $417,000 and up to the maximum county loan limit. In HI, the maximum loan limit is between $625,501 to $938,250. The maximum loan limit varies by county. Jumbo Loans: Loan amounts greater than $417,000 and higher than the maximum county level loan limit. The Jumbo rates quoted above are for loan amounts above $417,000 up to $729,750. Jumbo loans above $729,750 require a rate increase of 0.125%. These loan limits do not apply to Jumbo HomeBuyers Choice loans.

Two Unit Properties
The minimum downpayment for a two-family property is 20%.
Conforming loan limit for two-family properties is $533,850. In Alaska and Hawaii, the Conforming loan limit for two-family properties is $800,775. Super Conforming loan limit for two-family properties is $625,500.

Any refinance mortgage where the proceeds will be used to pay any debt other than debt used in the purchase of the home is considered a cash-out refinance. Additional discount points will apply to cash out loans, which are based on credit history and loan-to-value.

Loans with subordinate financing and loans secured by condominium properties may require additional discount points. Conforming loans secured by 2 unit properties or manufactured homes are subject to an additional 1.00% discount point.

Mortgage Loans: A sample principal and interest payment on a $250,000 fixed rate loan at 4.959% APR for 30 years is $1,304.12.



NFCU RATE LOCK POLICY

PURCHASE LOANS

Standard Price Lock Commitment for Purchase Loans
- 60 days at no additional cost

Extended Price Lock Commitment for Purchase Loans
- 90 days - additional 1/8 discount point or 1/8% in rate
- 120 days - additional 1/4 discount point or 1/8% in rate
- 180 days - additional 1 discount point or 1/4% in rate

Float to Lock Commitment for Purchase Loans means that you want to allow the interest rate and/or discount points to float with the market. You must lock in your interest rate and/or discount points at least seven (7) business days prior to settlement/closing.

Freedom Lock Option for Purchase Loans, is currently a special lock option offered at no cost with maximum rate reduction up to 0.25%. This special lock option is only available for 60 day pricing commitments. Your rate and/or discount points will be locked at the time of application but you will have the opportunity to re-lock one time if rates improve up to seven (7) business days prior to settlement/closing. This special lock option applies to all loan types. Your loan must close within 60 days of application.

REFINANCE LOANS

The Standard Price Lock Commitment for Refinance Loans is 45 days from the date of receipt of your loan application. On VA and FHA loans the Standard Price Lock Commitment is 60 days from the date of receipt of your loan application.

The Freedom Lock Commitment for Refinance Loans means that your rate and/or discount points will be locked at the time of application but you will have the opportunity to re-lock one time if rates improve up to seven (7) business days prior to settlement/closing. There is an additional cost of 1/4 of 1% for the refinance freedom lock option. Freedom Lock option is not available on VA and FHA refinance loans.

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