Mortgages: Get Preapproved for a Home Loan (2023)

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Get the Right Mortgage and Save Money, Too

When you close on a home loan with Navy Federal, you could savean average of $2,500with our low rates and fees and no PMI requirement.1 And, if you buy or sell a homethrough RealtyPlus®, you could also getup to $9,000 cash back.2

Mortgages: Get Preapproved for a Home Loan (1)

Rates & Loans Options

VA Loans

Interest as Low As 5.500%

APR as Low As 6.237%

Conventional Fixed Rate

(Video) Get PreApproved for a Home Loan - 2023 Tips & Tricks

View All MORTGAGES rates and options Payment Examples3

Why Choose Navy Federal for Your Mortgage?

We have a loan option for you and special features to make sure you get a great deal.

  • Preapprovals in seconds
  • Special Freedom Lock—your rate is protected4
  • VA Loan expertise—we're a top lender!
  • Loan options with no down payment5
  • No PMI required
  • Rate match guarantee6

Learn More about Navy Federal Mortgage Loans

Enjoy a Smooth Mortgage Experience With HomeSquad

Fast Preapprovals, Step-by-Step Guidance and 24/7 Access to Your Loan Status

Learn More about HomeSquad

Mortgages: Get Preapproved for a Home Loan (2)

Where Are You in Your Journey?

Whether you’re gathering information, crunching the numbers or preparing to fill out your application, we have the tools and resources you need.

Learn More about the homebuying journey

(Video) Buying a home in 2023? | Tips on getting pre-approved for a mortgage loan

Mortgage Calculators

From estimating closing costs to deciding how much home you can afford, our calculators can help you make decisions about your mortgage.

See All Calculators

Mortgages: Get Preapproved for a Home Loan (3)

Mortgages: Get Preapproved for a Home Loan (4)

Up to $9,000 Cash Back With RealtyPlus2

Use RealtyPlusto choose a top-performing real estate agent in your area, and you could earn upto $9,000 cash back. Exclusive for Navy Federal members.

Find Out How Much Cash Back with RealtyPlus

Mortgage Refinancing

Already have a mortgage and want to refinance for a different interest rate or shorter term? We have loans that might be a good fit.

Learn More about mortgage refinancing

Mortgages: Get Preapproved for a Home Loan (5)

(Video) How To Figure Out If You "Pre-Qualify" For a House! (without talking to a lender)

Homeowner Resources

  • Mortgages: Get Preapproved for a Home Loan (6)

    Managing Your Mortgage or Equity Loan

    HomeSquad provides a one-stop resource for all your mortgage management needs.

    Learn Moreabout Managing Your Mortgage or Equity Loan

  • Mortgages: Get Preapproved for a Home Loan (7)

    How to Make Mortgage Payments

    Find out what makes up your monthly mortgage payments and learn about convenient payment options.

    Learn Moreabout How to Make Mortgage Payments

  • Mortgages: Get Preapproved for a Home Loan (8)

    What's an Escrow Account?

    Find out how we calculate your escrow payments and get answers to your most frequently asked questions.

    Learn Moreabout What's an Escrow Account?

  • Mortgages: Get Preapproved for a Home Loan (9)

    Alternatives to Foreclosure

    If circumstances arise that make it difficult for you to keep up with your mortgage payments, there are a variety of programs that may be available to help.

    Learn Moreabout Alternatives to Foreclosure

View MoreHomeowner Resources

(Video) 5 Things NOT To Do After A Mortgage Pre-Approval

Still have questions? Visit our Mortgage FAQs.


Average savings calculation based on an internal analysis of 2022 Navy Federal Credit Union 30-year fixed mortgage rates, fees and points and comparable rates, fees and points as published by Freddie Mac (see on a $330,000 home loan.


The cash-back bonus is offered in most states and is available for individual sales and purchases of property; offer limited to one cash-back bonus per property with no limit on the amount of times you may use the program. In some states, a gift card or commission credit at closing may be provided in lieu of the cash-back bonus. The program is not available in IA or outside the U.S. Cash-back bonus is not available in AK or OK. In KS and TN, a gift card with preloaded points that are ready for spending at specified retail establishments after closing will be issued. State regulations in KS limit the dollar amounts and the type of incentive. In MS, NJ, and OR, a commission reduction may be available at closing. Please check with the program coordinator for details. This is not a solicitation if you are already represented by a real estate broker. The cash-back bonus is only available with the purchase or sale of your home through the use of a program-referred and -approved real estate agent. The size of your cash-back award depends on the value of the property you are buying or selling. Obtaining the full $9,000 cash-back award requires transacting in a property valued at $3 million or greater. To calculate the size of your potential cash back, please visit the RealtyPlus website: All real estate transactions are negotiable. Contact RealtyPlus for terms and conditions. Standard listing fees apply. The program award is not available in certain transactions with restricted agent commissions (including many new construction, For Sale by Owner, or For Sale by iBuyer transactions). Your assigned agent can help you identify any transactions where the award would not be available. This program is offered, in part, by Realogy Lead Management Services, Inc. d/b/a Realogy Leads Group (RLG). RLG may receive a co-operative brokerage fee as a result of a referral to the real estate companies listed above. Program terms and conditions are subject to change at any time without notice. Additional terms, conditions, and restrictions apply.


A VA loan of $300,000 for 15 years at 5.500% interest and 6.237% APR will have a monthly payment of $2,451.
A fixed-rate loan of $300,000 for 15 years at 5.500% interest and 5.694% APR will have a monthly payment of $2,451.
Taxes and insurance are not included; therefore, the actual payment obligation will be greater. For primary residences and second homes only. If you have less than your VA home loan entitlement, limitations to your loan amount may apply. This rate offer is effective 02/24/2023 and subject to change. Rates based on creditworthiness, so your rate may differ. All loans subject to credit approval. Rates quoted require a loan origination fee of 1.00%, which may be waived for a 0.25% increase in the interest rate. Many of these programs carry discount points, which may impact your rate.


Special Freedom Lock is available for new applications on purchase and refinance loans at no additional fee for a 60-day lock. You must request the Special Freedom Lock option during the initial lock request. You may request a lower rate no more than two times, with a maximum cumulative interest rate reduction of 0.50%. You must monitor rates to decide when to exercise the option to lower the rate. All requests for a lower rate must occur at least seven (7) calendar days before closing.


Product features subject to approval. Available for purchase loans only. Loans are subject to an additional funding fee, which may be financed up to the maximum loan amount.


Guarantee to receive rate match only applicable if all conditions are met. Available for purchase and refinance first mortgages. Certain product exclusions may apply. You must lock your rate with Navy Federal prior to submitting rate match request to qualify.A Loan Estimate and the rate lock disclosure from the competing lender must be received within 3 calendar days of locking with Navy Federal. The rate must be locked with the competing lender. The date of the Loan Estimate and the lock effective date with the competing lender must be within 3 calendar days of the rate lock with Navy Federal. Please note that no other documentation may be used to show competitors' terms. The terms of the competing loan must be identical to Navy Federal's loan; for example, a 30-year, fixed-rate product with mortgage insurance is not identical to a Navy Federal 30-year, fixed-rate product that does not have mortgage insurance. If the loan does not close within the commitment period, the rate match may be voided. NOTE: The initial Loan Estimate from a wholesale lender/broker is not an acceptable document for a rate match submission unless the Lender Information section on the Loan Estimate is completed. To receive $1,000, you must provide a signed, executed copy of the final Closing Disclosure and a copy of the final mortgage note within 30 calendar days of your loan closing with the original competing lender. Not valid if original loan terms or conditions change prior to closing. Once approved, $1,000 will be automatically deposited into your Navy Federal account within 30 calendar days of receiving the necessary documentation. Recipient is solely responsible for any personal tax liability arising out of this incentive.

(Video) Pre Approval Tips 2022 | Buying a House


Does pre-approval mean you get the mortgage? ›

You will complete a mortgage application and the lender will verify the information you provide. They'll also perform a credit check. If you're preapproved, you'll receive a preapproval letter, which is an offer (but not a commitment) to lend you a specific amount, good for 90 days.

How far in advance should I get preapproved for a house? ›

The best time to get pre-approved for a mortgage is at least one year before you decide to purchase. As a home buyer, pre-approvals are for your benefit, so it's never too early to get one. Getting pre-approved early is an advantage because one-third of mortgage applications contain an error.

Can I get preapproved for a mortgage with an existing mortgage? ›

Let the representative know at the beginning of the conversation that you have an existing mortgage loan. Tell the lender the amount of your down payment for the new purchase. This amount, along with the documentation on your current mortgage, helps the lender determine a pre-approval amount for a new loan.

How many mortgage preapprovals should I get? ›

Many experts recommend getting at least three preapproval letters from three different lenders. Each mortgage lender will give you a unique offer with its own interest rates, loan amounts, origination fees, and other upfront closing costs.

How much can I borrow with a 700 credit score? ›

You can borrow $50,000 - $100,000+ with a 700 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.


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