PenFed 5 Year Adjustable Rate Mortgage 3.718% APRPentagon Federal Credit Union is offering a 5 year adjustable rate mortgage as low as 3.718 APR. We were quoted this rate for a 5 year ARM, with 30 year amortization, on a conforming loan of $400,000 with .375 points, for a purchase with 20 percent down in Fairfield, Connecticut. The monthly payment on this loan is $1,967.76, this does not includes taxes and insurance. The total estimated closing costs for this loan is $4,689.66. Here is a breakdown of the closing costs: Lender
APR / Rate
Fees / Points
Payment
 NMLS #1835285
5.296%
15-Year Fixed
5.125%
$4,500
Includes 0.625 points for $2,500
Lender Fees: $2,000
$3,190 /mo
 NMLS #2578474
5.370%
15-Year Fixed
5.250%
$3,150
Includes 0.525 points for $2,100
Lender Fees: $1,050
$3,216 /mo
 NMLS #1067
5.486%
15-Year Fixed
5.375%
$2,888
Includes 0.722 points for $2,888
Lender Fees: $0
$3,242 /mo
 NMLS #757416
5.513%
15-Year Fixed
5.375%
$3,616
Includes 0.904 points for $3,616
Lender Fees: $0
$3,242 /mo
 NMLS #1025894
5.525%
15-Year Fixed
5.375%
$3,932
Includes 0.808 points for $3,232
Lender Fees: $700
$3,242 /mo
 NMLS #6606
5.763%
15-Year Fixed
5.625%
$3,592
Includes 0.898 points for $3,592
Lender Fees: $0
$3,295 /mo
 NMLS #401822
6.175%
15-Year Fixed
6.000%
$4,495
Includes 0.625 points for $2,500
Lender Fees: $1,995
$3,376 /mo
NMLS #1835285
6.259%
5-Year ARM
6.125%
$5,724
Includes 0.931 points for $3,724
Lender Fees: $2,000
$2,431 /mo
NMLS #1835285
6.266%
30-Year Fixed
6.125%
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
$2,431 /mo
NMLS #2578474
6.336%
30-Year Fixed
6.250%
$3,650
Includes 0.650 points for $2,600
Lender Fees: $1,050
$2,463 /mo
NMLS #1067
6.451%
30-Year Fixed
6.375%
$3,208
Includes 0.802 points for $3,208
Lender Fees: $0
$2,496 /mo
NMLS #757416
6.558%
30-Year Fixed
6.490%
$2,836
Includes 0.709 points for $2,836
Lender Fees: $0
$2,526 /mo
NMLS #1025894
6.577%
30-Year Fixed
6.490%
$3,604
Includes 0.726 points for $2,904
Lender Fees: $700
$2,526 /mo
NMLS #401822
6.632%
30-Year Fixed
6.500%
$5,495
Includes 0.875 points for $3,500
Lender Fees: $1,995
$2,529 /mo
NMLS #6606
6.717%
30-Year Fixed
6.625%
$3,828
Includes 0.957 points for $3,828
Lender Fees: $0
$2,562 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
The mortgage quote we were given is for a single family home, with a 20 percent downpayment in Fairfield, Connecticut. We were also quoted a 5 year ARM with a 40 year amortization schedule, the rate on this loan was 3.73% and the monthly payments were lowered to $1,798.25 because of the 40 year amortization. You pay less monthly but you will pay more interest in the long run. Mortgage rates, terms and closing costs will differ depending on the state, cost and your credit score. PenFed is a credit union so you will have to join PenFed to qualify for these great rates. There is certain criteria you have to meet to be eligible to join. Visit their website, Pedfed.org, to find out more. Explore Other Mortgage and Refinance Offers
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