PenFed mortgage offers loans through a credit union. They claim to be able to offer the lowest rates for a mortgage loan. You can get a loan for 10 to 30 years, and you can get a fixed rate or an adjustable rate loan. The credit union contains more than 1.4 million members. Established in 1935, PenFed mortgage rates will provide you with the opportunity to save money. This article will provide the latest and most up-to-date mortgage information for this company.

PenFed Current Mortgage Rates

You will want to look at the current PenFed rates to see if you can obtain a good rate on your mortgage. You can find the latest mortgage rates on PenFed’s website.

Type of Mortgage Rate

Interest Rate APR (Annual Percentage Rate) Estimated Monthly Payment
30-year fixed 3.75% 3.88% $1157.79
20-year fixed 3.50% 3.68% $1449.90
15-year fixed 3.12% 3.32% $1740.92
10-year fixed 3.00% 3.29% $2414.02
5/1 ARM 3.00% 3.69% $2282.78
5/5 ARM 3.00% 3.15% $2007.16

***Mortgage rates change every day; therefore, you need to check back on the website for the latest mortgage rates.

Bonus read – FHA Mortgage Rates

PenFed Mortgage Rates Additional Information

PenFed allows you to obtain a mortgage without perfect credit. You only need a 620 credit score to apply. You must be a member of the credit union; however, that is an easy process. All 50 states offer these loans. And you can obtain a 10, 15, 20, or 30-year loan. You can also get a fixed rate or an adjustable rate mortgage. Fixed mortgage rates are better for people who are intending to stay in the home for a long period of time, and adjustable rate mortgages are better if you are not planning to stay in the home.

30-year mortgage rates might be a little higher than 20-year mortgage rates or 15-year mortgage rates. However, your monthly payment will be lower with a 30-year term.

If you need a larger loan, jumbo mortgage rates are available. And if you wish to refinance your loan, you can check out the refinance mortgage rates. You want to look at the current mortgage rate trends when searching for a loan.

A mortgage rate calculator will help you know how much your monthly payments will be, so you can know how much you can afford.

Monthly Mortgage Payment Example

Type of Mortgage Rate 30-year fixed rate 20-year fixed rate 15-year fixed rate
Mortgage Amount $250,000 $250,000 $250,000
Interest Rate 3.75% 3.50% 3.12%
APR (Annual Percentage Rate) 3.88% 3.68% 3.32%
Number of Payments 360 240 180
Average Monthly Payment $1157.79 $1449.90 $1740.92
Total Amount of Interest $166,804.03 $97,975.83 $63,365.43
Total Amount Paid $416,804.03 $347,975.83 $313,365.43

***The values in this table are approximate results of our calculations and can vary based on the type of credit you opt for. Please note that these are our examples and not offered by the financial institution.


PenFed mortgage rates will provide you with the opportunity to achieve the goal of owning a new home. You can go online to apply for the mortgage, and the lender will make it as easy as possible. You can also sign the paperwork, and be on your way to owning a new home.