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NFCU to Cover Closing Costs for Borrowers

Mortgage borrowers utilizing Navy Federal Credit Union to purchase a home loan can now receive up to $2,500 toward their closing costs through the financial institution. The promotion from Navy Federal will only last for a limited time, giving buyers the rare chance to relieve the burden of fees incurred from purchase or refinancing transactions.

According to a company statement from Navy Federal’s assistant vice president of mortgage products, Barbara Sheehan, “This promotion can be used towards a member’s closing costs or as credit for the fees that are paid outside of closing costs like the appraisal fee or a credit report.”

Navy Federal was the 28th most prolific originator in the U.S. during the first quarter of this year, based on data from National Mortgage News, and the credit union reported around $1.1 billion in funded mortgage loans during that period.

Known as the largest credit union in the country, with an estimated 3.7 million members, the company boasts $46 billion in assets. Nave Federal caters to all military and civilian personnel within the Department of Defense.


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